Guidance to Festival Insurance for Small Event Organizers
Hosting a festival or fair is exciting, but comes with multiple financial risks. Whether it’s from unexpected cancellations or accidents, organisers need to ensure their small-scale festival is comprehensively covered.
Below, Insure Our Event will explain the key festival insurance policies needed to fully protect a festival or fair, including any attendees and employees.
Why is Festival Insurance necessary?
Both large-scale and small-scale festivals face significant liabilities. For example, a guest could slip and fall, or a vendor’s equipment could get damaged, or extreme weather could force you to cancel the event. Festival insurance is a necessity; without it, you could face extensive costs, compensation fees and legal violations. Comprehensive insurance coverage ensures that your event is safeguarded against financial losses and can continue to run long into the future.
What are the insurance requirements for a small festival or fair?
1. Public Liability Insurance for festivals
Public liability insurance is the most well-known aspect of festival insurance. It is designed to cover injury to attendees or staff as well as property damages to the venue. It also covers damage to any third party possessions or buildings.
Venues will require proof of public liability insurance before allowing an event to proceed. Public liability will also cover any legal fees or compensation costs as a result of an incident. Depending on the scale of the festival, organisers should consider a £2million to £10million limit.
2. Cancellation Insurance for festivals
A cancellation insurance policy helps reimburse costs if your festival or fair is cancelled due to unforeseen events. Circumstances which may cause an insurable cancellation includes sever unexpected weather such as storms or floods. This cover will also provide financial support if the venue closes unexpectedly or is made unavailable.
If stated, cancellation cover can include performers or entertainers in case they cancel or don’t show. Cancellation insurance can cover lost revenue, non-refundable deposits, and rescheduling costs.
3. Employers’ Liability Insurance for festivals
If you hire employees or volunteers to work at your festival or fair, you will be legally required to provide employers’ liability insurance. This coverage helps pay for the medical bills if an employee is injured on-site or while working. It also covers any legal fees or compensations payments if an employee makes a claim. Work-related claims can include payment for lost wages or transport costs.
If you have volunteers working at your event, they also need to be covered. Insure Our Event’s employers’ liability insurance policies will cover volunteers and staff.
4. Event Equipment Cover for festivals
If your festival involves expensive equipment such as sound systems, staging or lighting, event equipment cover is recommended. This coverage protects against theft, fire damage and vandalism. If you hire equipment, then event equipment insurance is vital as to not incur significant fines incase of an incident.
5. Bad Weather Cover for festivals
Most festivals or fairs take place outside. Outdoors event organisers should consider bad weather cover as an add on. Weather can be unpredictable, and bad weather cover helps protect against losses due to extreme weather conditions. This policy will cover postponement or cancelling of the event or the outdoor activities due to severe weather. The policy also insures against additional costs incurred due to disruption.
6. Money Cover for festivals
Festivals and fairs often utilise and take cash. Handling large amounts of cash at a festival is risky. Money cover protects against the theft of cash, both at the event and in transport to the bank. Money cover also insures against employee dishonesty involving festival funds.
How to Choose the Right Festival Insurance Policy Provider?
The two key factors to consider when choosing a festival insurance provider is the price and the policy details.
Insure Our Event offer a instant free quote, allowing event organisers to input the details of their event and see how much a comprehensive policy would cost.
Event organisers are also able to tailor the insurance details to their event. The quote form is fully flexible, offering variable options depending on the size and type of event, as well as the number of attendees, planned activities, and any specific requirements form the venue.
Planning a festival is an important task. To remain fully covered across all payments and hires, organisers should buy event insurance early. Festival insurance ensures that unexpected setbacks don’t turn into financial disasters. By securing the right coverage, you can focus on creating a memorable experience while knowing your event is protected.
