Event insurance from Allianz provides protection for events like concerts, festivals, and conferences in case something unexpected happens. It covers expenses related to event cancellation, property damage, liability claims, and other losses. Allianz is one of the largest insurance providers in the world, so their event insurance plans offer comprehensive coverage options for different types of events.
What does event insurance cover?
Event insurance from Allianz can cover a range of potential issues and expenses, including:
- Event cancellation – Covers lost income and expenses if the event is cancelled due to weather, accidents, death/illness of performers, or other unexpected circumstances.
- Property damage – Covers damage to event venue, equipment, decorations, etc. due to fire, storms, accidents, theft, vandalism.
- Liability claims – Covers injuries to attendees or third-parties, property damage liability, libel/slander, liquor liability.
- Vendor insurance – Covers vendor booth contents and liability.
- Accident medical coverage – Covers medical treatment costs for event attendees or participants who suffer injuries.
- Event worker injuries – Covers injuries incurred by event staff, production crew, vendors, volunteers, etc.
The specific coverages included depend on the type of policy and options selected. Event planners can work with Allianz agents to customize a policy meeting their unique needs.
Key policy options
Allianz offers event organizers flexibility to tailor their event insurance coverage. Here are some key options to consider:
Coverage scope – Policies can insure a single event or multiple events throughout a year. Multi-event policies may cost less overall.
Covered causes of loss – Plans can be tailored to cover all risks or named causes like weather, communicable disease, civil unrest, terrorism, etc.
Covered expenses – Policies can include different expense categories like cancellation, property damage, liability claims, accidents, etc.
Coverage limits – Planners select overall policy limits and sub-limits for expense types. Higher limits mean more protection.
Deductibles – Selecting a higher deductible lowers the policy premium but increases out-of-pocket costs if a claim is filed.
Vendor requirements – Policies can require all vendors have their own insurance and name event organizers as additional insureds.
Working with an Allianz agent to review options ensures policies are structured appropriately for each unique event.
Why choose Allianz for event insurance?
There are a few key reasons Allianz is a leading choice for event insurance policies:
- Financial strength – Allianz has an A+ rating from A.M. Best and over $100 billion in assets, providing security.
- Event expertise – Allianz insures events of all types and sizes worldwide, from local fairs to massive music festivals.
- Flexible solutions – Policies can be customized with tailored options for limits, covered losses, etc.
- Streamlined claims – Allianz has an efficient claims process designed specifically for speedy event insurance settlements.
- Added services – Allianz provides risk management resources to help events prevent losses and claims.
- Global capabilities – Multinational organizations can rely on Allianz to consistently insure events across countries.
With robust coverage options, strong financial ratings, and event-specific expertise, Allianz policies provide peace of mind.
How much does event insurance cost?
Event insurance premiums vary based on several risk factors. Some key considerations affecting costs include:
- Type of event – Concerts, conferences, and festivals have different risk profiles.
- Number of attendees – Events with more people may have higher premiums.
- Venue type – Indoor/outdoor venues have different exposures.
- Event duration – Single day or multi-day events have different costs.
- Location – Geographic region and weather patterns influence premiums.
- Alcohol – Events allowing alcohol consumption can see increased premiums.
- Security – More robust security can result in lower premium costs.
- Claims history – Previous losses may increase rates.
- Coverage limits – Higher coverage maximums mean higher premiums.
Here are some average costs for event insurance based on event size:
| Event Size | Average Cost |
|---|---|
| Small event (<500 people) | $150 – $500 |
| Medium event (500-1,500 people) | $1,000 – $2,500 |
| Large event (>1,500 people) | $3,000 – $10,000+ |
These figures are averages only. Exact premiums are determined individually based on an event’s unique characteristics and coverage needs. Event planners can request quotes from Allianz agents to find out precise policy pricing.
How to buy event insurance from Allianz
Buying event insurance coverage from Allianz involves three key steps:
- Research needs – Consider potential risks and liabilities to understand required coverages and ideal policy limits.
- Get quotes – Work with an Allianz agent to receive quotes outlining proposed coverage options and pricing.
- Select and purchase policy – Review quotes, adjust coverages if needed, and purchase an appropriate policy for your event.
Allianz aims to make purchasing event insurance as simple as possible. Their agents have deep expertise that enables tailoring the ideal policy to safeguard events.
Once purchased, Allianz provides policy documents outlining coverages, limits, exclusions, and claims procedures. Event organizers can contact their agent with any questions about the policy or the claims process.
Conclusion
Event insurance from Allianz protects against a wide range of potential liabilities and losses that can threaten events. Policies can cover expenses related to cancellation, property damage, liability claims, accidents, and more.
Allianz offers flexible coverage options and pricing is based on an event’s unique risk profile. By partnering with an experienced Allianz agent, event planners can secure a customized policy providing essential risk transfer solutions tailored to their specific needs. This coverage allows focusing on seamlessly executing events knowing potential liabilities are covered.