It has taken months to plan your special event. And if everything goes according to plan, it will be a day to remember, but how often do things work out exactly as planned? Luckily, Markel Specialty event insurance can help you recover from many unexpected situations.
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Event liability insurance
If you are held legally responsible for property damage to the venue or bodily injury to someone injured at your event, event liability insurance can help protect you from financial loss. Coverage highlights include:
Event cancellation insurance
Markel’s event cancellation insurance can help reimburse you for non-refundable deposits and expenses if you need to cancel or postpone your event due to unforeseen circumstances, such as:
Markel's event cancellation coverage, which can be purchased up to 14 days before your event date, also includes coverage for damage to photographs, special attire, lost deposits from no-show vendors, lost or stolen gifts and more.
Business and corporate event insurance
Markel Specialty also offers liability coverage for business and corporate events*. Examples of some of the business events that are covered include:
When is the best time to purchase event insurance?
You should purchase event insurance as soon as you begin to pay deposits. A significant non-refundable deposit is typically required by caterers, photographers and other vendors up front with the remainder due by the day of the event. Markel’s event cancellation coverage can be purchased up to 14 days before the event, and Markel’s event liability coverage can be purchased up to 1 day before the event.
Will I be covered if the weather forces the event to be postponed or cancelled?
Yes. If weather conditions are extreme enough to prevent the honoree or majority of guests from attending your event (such as a hurricane or blizzard), coverage will be provided.
Is there a deductible on event insurance?
Yes. Event cancellation policies require a $25 deductible for each area of coverage. Event liability policies require a $1,000 deductible for property damage.
If someone in my family gets sick before the event, would that be covered?
As long as the illness is not due to a pre-existing medical condition, event cancellation coverage is provided if an accident or illness prevents the guest of honor or an immediate family member from attending the event.
If I receive gifts at my event, will event insurance cover them?
Yes. Gifts that are lost or damaged seven days before and seven days after the event are covered up to the applicable limit set forth in your policy. There is a $300 limit on cash, checks, and gift cards.
Is special attire purchased specifically for my event covered?
Yes, if special attire purchased specially for your event is lost, stolen or damaged before the event, Markel's event cancellation coverage will provide protection. Some exclusions apply.
My event is held outside of the United States. Is it covered?
Yes. Markel's event cancellation coverage is available for events that are taking place in (or cruise ships departing from) the United States and its territories/possessions, Canada, the United Kingdom, Mexico, the Bahamas, Bermuda, and the Caribbean (excluding Cuba). Markel's event liability coverage policies are available for events taking place in (or cruise ships departing from) the United States and its territories/possessions and Canada.
If military leave is withdrawn, does event insurance provide coverage?
Yes. Coverage is provided if the guest of honor is serving full-time, active duty in the armed forces, police, or fire department and must postpone the event due to withdrawal of a previously granted leave or unforeseen deployment.
If my photographer loses my photos, is that covered?
Yes. Markel’s event cancellation policy provides insurance protection if your film or digital files are lost or damaged before you take possession of them. Photographer error (i.e. under or overexposure) is not covered.