The Importance of Weather Insurance

Planning an event is stressful in and of itself, with all of the planning that goes into it you don’t want to let anything fall through the cracks. There are certain things that you can’t change such as the weather, but there are things you can do to make up for it. Learn more about weather insurance, and how it will benefit you on the day of your big event.

What is Weather Insurance?

Canceling an event due to adverse weather can mean suffering financial losses. Luckily, weather insurance can help protect against this. Lots of money is spent on marketing and promoting an event, which is why having a backup plan for unexpected weather is important. This insurance will cover almost all events, whether it’s indoors or outdoors, sales promotions, or film productions. Weather insurance helps you worry less about the weather and more about planning the perfect event.

Types of Coverages

With event insurance, there is a lot that goes into it, making it easier to break it down into three major categories: liability of your attendees, protection of property, and coverage of event cancellation. We will go over them in detail below:

  • Liability coverage: Whether you have one person or 500 people attending your event, there is always a change that someone might get hurt. This provides coverage against any legal cost of lawsuits you may face along with coverage on medical expenses of bodily injury. If you plan to provide alcohol at your event, you should also invest in liquor liability.
  • Protection of property: If you’re renting the equipment that you’re throwing the part with, they could potentially be damaged. If that does happen, you will be held liable for it so that’s why purchasing this policy will help to repair or replace any property that was damaged.
  • Event cancellation: There has been a lot of money poured into your event and if it gets cancelled you will have to deal with even more expenses, especially if the event is ticketed. That is why event insurance provides coverages if this does happen and it gives you the ability to insure parts of the event such as a performers appearance.

Types of Weather Insurance

Under weather insurance falls three different categories of subcategories.

  • Rain Insurance: Rainfall is a very popular coverage because heavy rain can completely ruin an event and cause all profits to be lost. Rain insurance will specifically cover any event that has been canceled due to rain conditions.
  • Snow Insurance: Snow can cause a very low turnout at an event, which is why snow insurance can help cover the loss in profits in order to cancel the event.
  • Temperature Insurance: In New England, we can have extreme temperature conditions from below freezing to scorching hot. No one wants to be outside during these days, which is why temperature insurance will help cover the cancellation fees.

When planning an event, it’s important to have all of your ducks in a row, especially when it comes to insurance. At TJ Woods Insurance, we provide weather insurance for any type of situation your business may face. Contact us now for a free quote.