Everything You Need to Know About Event Insurance

Event Insurance

Ever wondered what makes a successful event? While celebrating a special moment, you will command all the resources at your disposal to make it a memorable one. For an occasion like wedding which is of immense social and emotional value, you will leave nothing to chances.

Like assets, your events also deserve insurance protection. Recognising this need, insurance providers in India have started to offer an exclusive contract called event insurance policy for covering various types of events.

Things to know before buying event insurance

Before you start looking for the best insurance for event you need to know:

The size of coverage

Your event reflects on the prestige and status of your organisation or family. Functions like a global meet or award distribution ceremony for your company will require big conference venues. It may also involve the travelling and lodging arrangements for a large number of foreign guests and dignitaries.

Cost for hosting events can vary widely. For example, a social ceremony like a wedding can cost anywhere between Rs. 20 lakh to Rs. 5 crore. One the other hand a low-key ceremony like a birthday party of a marriage anniversary celebration, with a small number of invitees, may be covered within the expenses of a few lakhs only.

While buying an insurance policy, it is vital that you have a precise estimation of your expenses and the size of coverage required to balance out the incurred losses, in case of an unforeseen incident.

You can then visit the website of your insurer and use tools like online calculators to find out the premium payable to finance the desired coverage. Innovative plans like wedding event insurance are also available today. They are tailor-made to cater to the requirements of specific events.


While buying event insurance, it is vital to understand the risks that are covered by your plan. The list may include:

  • Cancellation of the event

An event planned with much care and pragmatism may be called off at the last moment due to unavoidable circumstances. It may be due to inclement weather or criminal activities at the venue.

You may also be forced to postpone your event due to a host of other factors like failure of your vendors to live up to their commitments or due to unpleasant circumstances involving the health and wellbeing of your guests or performers.

  • Property damage

There are chances of damage to the movable and immovable properties which are crucial to the successful organisation of the event. Equipment and systems may suffer losses due to various factors during their handling and movement.

  • Personal accidents

In spite of all precautions, there may be inevitable accidents during the event involving your guests. For example, there may be chances of some unpleasant experiences during an adventure sports session at one of the team building events of your organisation.

  • Third-party liability

Various unfortunate incidents related to your events may extend to impact the third parties. For example, a fire at the event venue may spread to the nearby residential area or a vehicle hired for your event may get involved in a road accident.


While modern event insurance plans are expertly designed to take care of all contingencies related to your event, there are a few exclusions. You should remember that your policy coverage may not include losses due to:

  • Acts of sabotage or wilful damage to properties
  • Extreme weather conditions like storm and rain
  • Socio-political unrest like acts of terrorism
  • Action as per Government policy like confiscation of properties by authorities

Planning for your big day is complete only when you avail event insurance to cover all your arrangements. No matter how prudent your preparations are, an event insurance policy is your best protection against contingencies. You can choose from a wide variety of plans which are available in the market today.

Bajaj Finserv has launched pocket-friendly solutions under its Pocket Insurance categoryto cater to precise insurance needs of their customers. There are a range of short-term insurance products – covering specific conditions – available at an affordable one-time premium.

For instance, event insurance plan seeks to provide comprehensive event coverage of up to Rs. 3 lakh for one year, at an affordable premium of Rs. 599 only.  With easy premium payment options available, this policy offers formidable financial cushion in case of any untoward incident during the event.

Howard Fritz
My name is Howard Fritz. I'm a full-time blogger for who loves to share finance & business news. In my free time, I love to learn, read, and travel.

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