You’ve found a great location, spent countless hours pulling your hair out to find the perfect name for your festival. You have organised a line-up that is going to get the crowd partying and you can feel the excitement building from all the chatter across the internet. You take a look at what else needs to be done on the checklist and you notice a small squiggle lacking that same enthusiasm that you put into formulating all your other ideas on the page…. insurance!
It may be an item on a list that doesn’t create much excitement, and is mostly likely something that may not even be used. But there would not be the need for insurance if things didn’t go wrong, and for the small price to pay, it could save you and your event a lot of heartache.
But where do you start? Here at Events Insurance we know how complicated insurance can be, with all the jargon and terminology it is easy to get lost, and really know what you are looking for.
We have come up with a few tips just to help set you off in the right direction to get the policy you need.
When is the best time to buy insurance for my event?
There is a great deal of your time, effort and money invested into get an event just right. Anything that happens that can have negative financial impact, or even worse, putting a stop to the event can be absolutely devastating. Once you start making bookings and paying deposits you will want to be covered for the financial investments that you have made and are at risk of losing, and this would be the best time.
Budgets and Cover
If you’ve spent time working out your budget, make sure you’ve allocated some of this to include your insurance, ensuring you get a level of cover that isn’t too much for what you need, but also check that you haven’t under insured yourself. Think about what your priorities are and what you are really concerned about being covered and check that it is included in the insurance. Check what sections have an excess, so that you can determine whether it would be worth you including that, or not if the excess is bigger than the value you need to insure, then it may not be worth taking that part out.
The cancellation of the event can cause some of the biggest problems to you. Not only is your event at risk of not going ahead, but even if you manage to reorganise the event to a new date and location, all the time and money invested into marketing and promoting the event will be all for nothing. This means that you will have to reinvest all that time and money and promote the new date and venue to ensure your event is a success. So taking out cancellation cover can give you protection if something unexpected happens leading to the cancellation of you event.
Hopefully some of these tips can get you pointed in the right direction. But if you start to feel a bit lost when looking at our range insurance policies or filling out a quote, do not hesitate to get in contact with one of our team who are on hand to go through your event and guide you to get the policy that suites you best.