Weather insurance protects any financial loss you may incur due to specific weather perils, such as rain, snow, extreme temperatures, wind, etc. Weather insurance can help offset decreased attendance and/or sales in that your expenses and profits can be insured.
- The costs varies by time of year and location.
- Our minimum premium is $600.
- Coverage is tailor-made for each event or business.
- All limits are an agreed amount. This means that whatever amount you insure is what you get.
- There are no co-insurance penalties and no proof of loss is required.
- The only trigger for payment is the agreed peril occurring during the agreed time period.
How Weather Insurance Works
The only information we require to provide a free quotation are the date(s) of the event, hours of coverage, location, amount of coverage desired, and the type of weather peril (i.e.: excess/lack of rainfall, snowfall, extreme temperature or wind).
Premium rates generally vary depending on the above parameters. For example, a special event such as a one-day concert, fair or festival may require a rate of between three (3%) and twelve (12%) percent. Longer term coverages for risks such as promotions, business interruption, or municipal snow remove can run upwards of three (3%) to five (5%) percent. Rates may be reduced by either:
- Reducing the number of hours/days of coverage
- Adding an alternate "rain date" for the event
- Increasing the "triggering" rainfall/snowfall amount
But weather insurance isn't only for outdoor events and shoots; it can also help offset the operating costs of indoor events. Many sporting events, conventions, shows, concerts, expos, etc. can be adversely affected by the weather because people may have trouble attending. Obtaining weather insurance and insuring that snow, rain, hurricanes, etc. do not keep people from attending is the smartest way to keep your expenses from eating up your bottom line.
How much rain might affect your event? See the rain guidelines.