Festival Insurance – Here’s how to get cover for your event

From beer and book to folk or food – we Brits love a festival. If you’re hoping to get a slice of the £2.3 billion action, it’s not without risk. From bad weather to threats to public health, there’s plenty that can, and does, go wrong. So festival insurance is an essential cost that shouldn’t be skimped on.

The 12% increase in Insurance Premium Tax, introduced at the start of this month, has seen premiums for all insurance automatically rise. But you can still get a good deal on your festival insurance without compromising on your cover if you shop around. Look to an independent broker with specialist events understanding, like Park Insurance. We’ll tailor your insurance to meet the exact needs of your festival. And we will do the legwork ringing around insurance companies to negotiate a value for money deal for your peace of mind.

Beating the soaring costs of organising a festival

Despite the popularity of festivals, research carried out last year by delivery company ParcelHero suggests that it’s not always an easy way to make money. Even the big guys, like the legendary Glastonbury Festival, struggle to turn a profit amid soaring costs for essentials like insurance and security. Despite selling out in minutes and turning over £37million, profits of just £86,000 for the UK’s biggest music festival represent less than 50p per ticket. Other festivals fare even worse and are either cancelled or fail to reappear the following year.

You need to budget carefully to ensure your event is a financial success. But not taking out insurance is not an option. Instead, help to balance the books by looking for the best value deal on your festival insurance.

  • Look for insurance that can be tailored to the specific needs and size of your event. That way you’ll only pay for the things you need, not the things you don’t.
  • Shop around for several quotes to ensure you’re getting the best price. If you don’t have the time or don’t know where to look for specialist festival insurance, use an expert independent insurance broker like Park Insurance. Whilst we act independently, which means we’re free to source insurance from anywhere, we also have preferred broker status with some of the UK’s biggest insurance providers. That gives us great negotiating power, so we can get the best deal for you with no compromise on your cover.

Festival insurance to protect your event from unpredictable weather

Like swallows, festivals signify the start of the summer. And when you’re talking about the British summer, you know that means almost inevitable rain. In the wet summer of 2012, 57 music festivals alone had to be cancelled along with many other outdoor events.

If your festival has to be cancelled you’ll have to refund ticket holders but you’ll still have to pay costs for everything from your acts to your portaloos. Whilst we can’t predict the weather, when you’re organising a festival, comprehensive insurance can help see you through these tough times.

Public liability insurance for festivals

No matter how meticulously you plan your health and safety, mistakes can happen. From slips and trips over trailing sound system wires to food poisoning or allergic reactions to something you serve, our no-win, no-fee culture means festival organisers are at high risk of facing legal action. Public liability insurance is a must. It will cover your legal costs, and any compensation, if anyone member of the public is injured or their property damaged by something to do with your event.

Other insurance to consider

Employer’s liability insurance – If you employ any members of staff, you’ll need to make sure you have appropriate Employer’s liability insurance. This is a legal essential and without it you can be fined. Like public liability insurance, it pays your legal fees if any member of staff is injured by something to do with your event.

Equipment cover – If you use specialist, expensive equipment for your event, it’s worth taking out additional equipment cover. Speak to your broker for more details.

Risk management service

We work in partnership with Peninsula Business Services, one of the country’s top health and safety and employment law solutions providers. Their team will help eliminate all risk from your event and ensure you comply with the latest legislation for your peace of mind. We’ve managed to secure a special 10% discount for Park Insurance clients. Get in touch to find out more.

Festival insurance you can count on

We understand the amount of work you put into making your event a success. With so many other jobs, it can be easy to leave insurance and just accept the first quote you get. This is where we can help. Our experienced events team understand the unique insurance needs of festivals of all kinds and sizes. We’re an independent, family-run firm, so we’re not tied to any one insurance firm. We’ll shop around to find the best value deal, whilst making sure there are no gaps that could leave you open to risk. Call us today on 0117 955 6835 or get in touch for your free, no-obligation quote.