What is Event Insurance, and Why is it a Must in 2022?

Now more than ever in the event planning industry, we have to be aware that unpredictable situations can occur. The pandemic has introduced an increased need for flexibility in just about everything in life, and events are no exception. Luckily, you can avoid the headache of dealing with event hiccups or even cancellations by making sure you have a solid event insurance policy in place.

How Does Event Insurance Work?

Throughout the year, our best genuine advice we’ve been offering our clients is to hope for the best but plan for the worst. As we really have no way to predict the next plot twist in the everchanging situation with COVID, the unfortunate reality is that some events this year may have to be postponed. Event insurance provides financial protection in case your own event requires cancellation.

Which Types of Events Does Insurance Cover?

Any events that involve increased expenses qualify for event insurance coverage. In our experience, such events typically include:

·       Weddings

·       Anniversary parties

·       Bar mitzvahs and bat mitzvahs

·       Graduation ceremonies

·       Corporate events

What Does Event Insurance Cover?

The key reason we recommend opting in for event insurance in 2022 is protection against unexpected illness, but there are added protections you may benefit from as well: 

·       Serious accidents resulting in injury

·       Military service requirements

·       Stolen or damage gifts (check if your homeowner’s/ renter’s insurance covers gift status!)

·       Emergency honeymoon cancellation

·       Professional counseling for emotional stress after event cancellation

·       Event liability coverage

We received some unfortunate news this month that someone near and dear to us had to reschedule their wedding due to family illness. While we are saddened by the news, we understand now more than ever, that family comes first. We were reassured by the couple that their hard work in planning this event will not go to waste, as we will be able to celebrate the beautiful couple in the future, when the time is right! This situation reminded us of how important event insurance truly is, because you never know when life will throw you a curve ball.

Event Insurance with Innovative Party Planner

Are you in the midst of planning a party and unsure which insurance package is most suitable for your needs? Our team is happy to help! We can refer you to someone who has experience discussing general liability coverage, product liability coverage, and commercial liability coverages. Our goal is to help our clients prepare for their events. In 2022, that means we are there to help our clients claim financial security just in case the event they dedicated their time to planning requires cancellation.

Plan Your Virtual or In-Person Event with Innovative Party Planners

Innovative Party Planners is your resource for event design and planning in Maryland, Washington, D.C., Pennsylvania and Virginia. To learn more about our event planning services and how we can help make your event one of a kind, contact us by clicking here or call (410) 998-9999.