Event Insurance with Geico

If you are planning an event, it is crucial to consider the risks involved and take measures to protect yourself from any unforeseen circumstances. One way to do this is by getting event insurance. In this article, we will take a look at what event insurance is, how it works, and how you can get it with Geico.

What is Event Insurance?

Event insurance is a type of insurance that provides protection against losses or damages that may occur during an event. The policy covers a wide range of events, including weddings, concerts, festivals, and trade shows. It is designed to protect event planners, vendors, and attendees from various risks such as accidents, injuries, property damage, and cancellations.

Event insurance policies can vary depending on the type of event, the number of attendees, the location, and other factors. Generally, it covers liability, property damage, and cancellation or postponement due to unforeseen circumstances.

Liability Coverage

Liability coverage is a standard feature of event insurance. It protects you from lawsuits filed by third parties who are injured or suffer property damage during the event. For example, if a guest slips and falls on the dance floor, and files a lawsuit claiming that you are responsible for their medical bills, event insurance can help cover the costs of the lawsuit and any damages awarded.

Liability coverage can also protect you if your vendors cause damage to the event venue or if a guest’s property is damaged or stolen during the event. It is essential to have liability coverage to protect yourself from these kinds of risks.

Property Damage Coverage

Property damage coverage is another important aspect of event insurance. It covers any loss or damage to the event venue, equipment, or other property caused by accidents, theft, or vandalism. For example, if a vendor accidentally damages a venue’s flooring while setting up, event insurance can help cover the cost of repairs.

Property damage coverage can also protect the event planner’s equipment, such as cameras, microphones, and speakers, which are essential for the event’s success. It is crucial to have property damage coverage to ensure that your event is protected and runs smoothly.

Cancellation/Postponement Coverage

Cancellation or postponement coverage is an optional feature of event insurance. It covers any loss of revenue or expenses incurred due to the event’s cancellation, postponement, or rescheduling. For example, if a hurricane forces you to cancel your outdoor wedding, event insurance can help cover the costs of deposits, vendor fees, and other expenses already incurred.

It is essential to carefully review the policy and understand the terms and conditions of cancellation or postponement coverage. Some policies may not cover all types of events or circumstances, so it is important to speak to an agent and ask questions.

How Does Event Insurance Work with Geico?

Geico offers event insurance through its partner, RVNA. The policy is tailored to meet the specific needs of different events and is available for purchase online. The policy offers coverage for liability, property damage, and cancellation or postponement due to unforeseen circumstances.

To get event insurance with Geico, you can follow these steps:

1. Visit the Geico event insurance webpage.
2. Select the type of event you are planning, such as wedding, concert, or trade show.
3. Enter your event details, such as the date, location, and number of attendees.
4. Choose the coverage options you need, such as liability, property damage, and cancellation or postponement.
5. Review the policy and pay for the coverage.

Once you have purchased the policy, you will receive a certificate of insurance that you can provide to your vendors or event venue to show that you have coverage.

FAQ

1. What does event insurance cover?

Event insurance typically covers liability, property damage, and cancellation or postponement due to unforeseen circumstances. The policy can vary depending on the type of event and its specific needs.

2. Is event insurance required?

Event insurance is not required by law, but it is highly recommended to protect yourself from any unforeseen circumstances.

3. How much does event insurance cost?

The cost of event insurance can vary depending on the type of event, the number of attendees, and the coverage options selected. Generally, the cost ranges from a few hundred to a few thousand dollars.

4. How do I file a claim with event insurance?

If you need to file a claim, you can contact the Geico claims department or the RVNA claims department, depending on the policy. You will need to provide evidence of damages, such as photos or receipts, and fill out a claims form.

5. Can I purchase event insurance for events outside of the USA?

Currently, Geico event insurance is only available for events within the USA.

Conclusion

Event insurance is a crucial aspect of event planning. It protects event planners, vendors, and attendees from various risks and ensures that the event runs smoothly. Geico and its partner, RVNA, offer event insurance policies that are tailored to meet the specific needs of different events. By purchasing event insurance with Geico, you can enjoy peace of mind knowing that your event is protected.