{"id":13854,"date":"2023-04-26T11:00:07","date_gmt":"2023-04-26T09:00:07","guid":{"rendered":"https:\/\/pibgroupiberia.com\/?p=29073"},"modified":"2025-07-21T11:45:01","modified_gmt":"2025-07-21T09:45:01","slug":"all-about-event-cancellation-insurance","status":"publish","type":"post","link":"https:\/\/pibgroupiberia.com\/en\/blog\/todo-sobre-el-seguros-de-cancelacion-de-eventos\/","title":{"rendered":"Event cancellation insurance: How does it work?"},"content":{"rendered":"<p><strong>When organising an event<\/strong>, There are many issues that need to be controlled. No matter how conscientiously these steps are taken, <strong>there are many unforeseen events that can occur<\/strong>. That is why so many people subscribe to <strong>show cancellation insurance<\/strong>, The aim is to avoid a large financial loss in the event of such an occurrence.<\/p>\n<h2>How does event cancellation insurance work?<\/h2>\n<p>The purpose of this insurance is to enable the event organiser to <strong>protecting against economic losses<\/strong> you are faced with an unforeseen event. Such a problem should lead to the cancellation, postponement or total abandonment of the event.<\/p>\n<h2>What is covered by the event cancellation insurance?<\/h2>\n<p>As with any policy, you must specify a <em>sum insured<\/em>. This is the maximum capital that the company will pay to the insured.<br \/>\nThe expenses that can be compensated are: <em><strong>\u201ccommitted and irrecoverable expenditure\u201d.\u201d<\/strong><\/em>. If they were recoverable, there is no point in insuring them.<\/p>\n<p>We are talking about, among others:<\/p>\n<ul>\n<li>Production costs.<\/li>\n<li>Disbursements such as rents, salaries...<\/li>\n<li>Advertising and sponsorship.<\/li>\n<li>Costs to save the event.<\/li>\n<li>Loss of profits generated.<\/li>\n<\/ul>\n<h3>How far in advance can the policy be taken out?<\/h3>\n<p>Depending on the company, some companies require more or less days in advance. The most common is 14 days (15-16) before the event.<br \/>\nIt is more exceptional, but achievable, to find companies that will cover us as a limit. <strong>10 days before<\/strong> before the show takes place, but this is becoming less and less frequent. That's why we recommend you to plan ahead and do it with enough time.<\/p>\n<p>However, it is essential to have made a transfer to the company. What is known as <em>\u201cliquidate the premium\u201d.\u201d\u00a0<\/em>to the insurer.<\/p>\n<h3>How do I take out insurance?<\/h3>\n<p>Typically, companies will require, in order to budget for it, that <strong>fill in a questionnaire<\/strong>. It contains the essential data of the event. Among others:<\/p>\n<ul>\n<li>Dates and venue of the event<\/li>\n<li>Whether it is outdoors or not<\/li>\n<li>Type of event: sports, popular festivals, concerts or festivals...<\/li>\n<li>Coverage needed<\/li>\n<li>Amounts to be insured<\/li>\n<\/ul>\n<p>This will make it possible to develop the <strong>budget<\/strong>, Once the client agrees, we proceed with the transfer of the premium amount in order to issue the insurance.<\/p>\n<h2>Types of events and shows that can be insured<\/h2>\n<p>They are <strong>many types of events<\/strong> where cancellation insurance can be taken out:<\/p>\n<ol>\n<li><strong>Weddings:<\/strong> has been in vogue for some time now.<\/li>\n<li><strong>Popular festivals:<\/strong> because the cost of orchestras and singers is very high.<\/li>\n<li><strong>Concerts and music festivals.<\/strong><\/li>\n<li><strong>Sporting events.<\/strong><\/li>\n<li><strong>Congresses or conferences.<\/strong><\/li>\n<li><strong>Cotillions and parties.<\/strong><\/li>\n<\/ol>\n<p>For any event in which there is a significant outlay, as well as an expectation of significant benefits, it is possible to take out a policy that meets those needs. They range from large budgets to being able to insure even a \u00abcotillion\u00bb or a wedding, as we can see.<\/p>\n<h2>Event cancellation insurance coverage<\/h2>\n<p>There are several coverages that can be subscribed through these policies. In other words, there are several causes that can trigger the cover:<\/p>\n<ul>\n<li><strong>Force majeure<\/strong>This guarantee covers a wide range of possibilities. In any case, what is extremely important is that the event that generates it must be beyond the control of the Insured.<\/li>\n<li><strong>No-show<\/strong> o unavailability of persons: it is understood that key figures who are indispensable for the development of the activity (artist, sound manager, as examples).<\/li>\n<li><strong>Adverse weather<\/strong>when, due to weather conditions, the event cannot take place.<\/li>\n<\/ul>\n<p><strong>It is not necessary to subscribe to all<\/strong> these coverages. It is possible that due to the type of event in an enclosed location, weather cover is not essential.<\/p>\n<h2>How do you deal with a claim?<\/h2>\n<p>When we talk about the cancellation of an event, the proof of what happens, of what motivates the cancellation, is crucial.<br \/>\nCompanies are very clear in their insurance conditions: photos, written reports, notification as soon as possible.<\/p>\n<p><strong>Depending on the case, different types of evidence are required.<\/strong>. For example:<\/p>\n<ol>\n<li><strong>Due to weather:<\/strong> certificate of Meteorological Institutes<\/li>\n<li><strong>Non-appearance of the artist due to illness:<\/strong> have a medical report<\/li>\n<\/ol>\n<p>It is also possible that the Guardia Civil or local council staff will have to make a report; or have a photographic report...<\/p>\n<p>In addition, contracts must be submitted to demonstrate the expenses with sponsors or with production, showing which expenses are not recoverable, and must be compensated.<\/p>\n<p>It is very important to have a fluid communication with the company, which can help us to make decisions.<\/p>\n<p>If you want to have a <strong>policy with good price and guarantees<\/strong>, contact us. From <a href=\"\/en\/\"><strong>PIB Group Iberia<\/strong><\/a> we have <strong>experience in securing events<\/strong>, and we will help you in all those moments.<\/p>","protected":false},"excerpt":{"rendered":"<p>Vemos las coberturas del seguro de cancelaci\u00f3n, partidas asegurables, tiempo m\u00e1ximo de contrataci\u00f3n&#8230; <\/p>","protected":false},"author":14,"featured_media":13855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":4.9,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[15],"tags":[187],"class_list":["post-13854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-empresas","tag-cancelacion-eventos"],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"_links":{"self":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/13854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/comments?post=13854"}],"version-history":[{"count":0,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/13854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media\/13855"}],"wp:attachment":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media?parent=13854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/categories?post=13854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/tags?post=13854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}