One-day event insurance, also known as special event insurance, is a policy designed to protect your investment in case you need to cancel the event. Most policies will also provide coverage due to the death or serious illness or injury of a key participant in the event. For example, if the groom dies before the wedding, one-day event insurance will cover it.
- Top 4 Providers of One-Day Event Insurance
- Who Needs One-Day Event Insurance?
- What does One-Day Event Insurance Cover?
- How Much does One-Day Event Insurance Cost?
Top 4 Providers of One-Day Event Insurance
After weighing the pros and cons, and looking into customer service, pricing, and claims service, we recommend the following companies.
- Eventhelper.com: Best for Unique Events
- RVNA: Best for Comprehensive Coverage
- Markel: Best for Customizable specialty insurance
- Travelers: Best for Flexible Options
Eventhelper.com: Best for Unique Events
Not only does event helper insure every special event you can think of, from a 10k run to a wedding, rates are very reasonable. You can purchase insurance for an event lasting anywhere from one day to ten days, and they insure all fifty states.
For a retirement party in California with 100 guests, Event helper gave us this quote:
RVNA: Best for Comprehensive Coverage
RVNA offers event insurance starting at $50 and insures events large and small. They’ve been insuring special events for over 25 years, so they know what’s involved and the type of insurance you need.
For an Anniversary party in California, we said we were holding the event for 200 people and were planning to serve alcohol.
They quoted us:
Markel: Best for Customizable Specialty Insurance
Markel was founded in 1930 and they specialize in specialty insurance. They insure everything from horses to weddings. You can add or change the limits on your policy, change deductibles, or customize your policy in whatever way works for you.
For an anniversary party in CA, Markel gave us a detailed quote:
Travelers: Best for Flexible Options
Travelers gave us the most detailed breakdown of what they could offer us, with what limits. If you like detail, or you just have to know about every option, Travelers spells everything out for you.
They quoted us $265 for an anniversary party with 100 people and alcohol being served.
Who Needs One-Day Event Insurance?
One-day event insurance is most commonly associated with weddings (here is the 4 Best Providers of Wedding Event Insurance) , but can also be for:
- Anniversary parties
- Baby showers
- Birthday parties
- Retirement parties
It’s possible your venue has its own liability coverage, so you need to check with them to find out if you need your own event insurance. They may not cover everything, though, so your own event insurance may still be a good idea. Be sure to ask what is and is not covered under the policy.
It’s also possible your vendors have insurance, too. Be sure to check with them to see what sort of insurance they have and what is covered.
If you’re hosting an event in your home, your homeowners insurance offers some protection, but according to the iii, you can also check your credit cards to see what, if anything, they cover in the case of cancellation.
What does One-Day Event Insurance Cover?
Depending on the policy, one-day event insurance covers things like:
- Problems with the site
- Key people (like if the guest or guests of honor become sick)
How Much does One-Day Event Insurance Cost?
Basic one-day event insurance costs about $120 if you don’t add liquor liability insurance and about $260 if you add it in. Alcohol increases the level of risk, meaning there are many more opportunities for guests to either hurt someone or damage property, so insurance rates reflect that.
Some states require you to have host liquor liability insurance, even if you have a vendor serving the alcohol.
What doesn’t One-Day Event Insurance Cover?
Cancellation insurance won’t help for anything under someone’s control. For example, if you’re hosting an anniversary party and the guests of honor announce their divorce, insurance won’t help you.
Typically, one-day event insurance won’t cover:
- Sporting events (they have their own pricing and policies)
- Bachelor/bachelorette parties
- Corporate fundraisers
- Public events, such as exhibitions
- Dance recitals
Costs associated with one-day events put a strain on your wallet. No likes to consider the worst-case scenario, but unfortunate circumstances can and do happen. Getting a one-day event policy will give you peace of mind, and let you enjoy the event when it hopefully goes off without a hitch.
>>MORE: Explore our other articles about different types of event insurance:
- How Much Does Event Insurance Cost?
- The 5 Best Event Insurance Companies
- The Cheapest Event Insurance for 2020
- The 5 Best Providers of Event Planner Insurance
- The 4 Best Providers of Wedding Event Insurance