Event Insurance

Planning an event is a huge task and involves layers of details. From strategizing the budget to organizing every part of the event, there’s a huge checklist. Often, we invest a lot of funds into organising events like music festivals, concerts, weddings, and more. However, there is also a risk of cancellation or postponement of such events at the last minute due any unforeseen reason.

Therefore, it is necessary to secure your financial investments made for the event to avoid any loss of funds. By availing Event Insurance Policy by Bajaj Finserv, you can safeguard your finances easily. The policy provides a comprehensive coverage against financial losses suffered in an event.

Features and Benefits

Here are the features and benefits of the plan:

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  High sum insured

  Get a coverage up to Rs. 3 lakh at a premium of just Rs. 599 per annum.

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  Protection of financial investment in an event

  The Event Insurance policy helps you secure your financial investment made for any event such as a wedding.

• 

  Multiple payment options

  The plan offers multiple payment options for easy payments. You can choose to pay online through net banking, UPI, mobile wallet, credit card or debit card.

• What’s Covered

  Here are the expenses covered under the plan:

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  Event cancellation due to fire

  The plan offers coverage of up to Rs. 3 lakh for event cancellation due to fire breakout (standard fire and allied perils)

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  Event cancellation due to declared official mourning

  You can avail the coverage if your event is cancelled due to mourning declared on account of the death of the serving President of India/Prime Minister of India/Chief Minister of the State (in India) where the event is being held. The plan offers coverage up to Rs 2.5 lakh for cancellation of the first day of the event and up to Rs. 50,000 for cancellation of the second day of the event.

• 

  Loss or damage to props, sets, wardrobe, equipment

  In case of fire or burglary at the event that results in the damage or loss of props, sets, wardrobe, and equipment, you can get coverage up to Rs. 2 lakh.

• What’s not Covered

  Here are the expenses excluded from the plan:

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  Policy excess

  You have to pay 5% of the claim amount (subject to a minimum of Rs. 25,000 for each claim) as policy excess.

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  Unfavourable weather conditions

  Any losses occurred due to extreme weather conditions, seasonal or unseasonal rains, fog, humidity or temperature changes will not be covered.

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  Losses due to riots, war or political disturbances

  Any losses caused due to riots, war/nuclear material, terrorism, hoax, fear, threat of terrorism, political disturbances including bandhs, strikes, civil commotions or malicious damages will not be covered.

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  Personal or health reasons

  No coverage will be provided if the event is cancelled due to personal or health reasons such as menstruation, childbirth, communicable diseases or intentional self-injury or suicide.

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  Government intervention

  Any losses due to confiscation, requisition, detention, destruction, abandonment by or by order of any government/public/local authority will not be covered.

• 

  Other exclusions

  Some of the other exclusions of the Event Insurance policy are:
     - Loss due to short circuit (for equipment, machines, cameras), camera lens.
     - Loss due to any kind of stunts, or any act leading to a breach of law.
     - Loss due to delay in baggage.
     - Any loss related to family members of the person performing at the event.
     - Inventory losses or mysterious disappearances, antique items, and animals.
     - USA or Canada state mourning will not be covered. Liability covers outside India are also excluded.

You can apply for Event Insurance online in three steps.