Say you have been preparing hard for an event and have also sponsors invest their money and on the day of the event your entire show collapses due to terrible weather conditions. Appalling isn’t it? Weather insurance in a time like this can be such a relief. Not just this, weather insurance also provides protection for any financial loss that occurs due to rain, snow, wind and temperature.
Premiums
Weather insurance is said to use a non-standard form and in many cases there might be a deductible too. Weather insurance premiums may vary according to the set unit which can be rain, snow or any other weather measurement.
For outdoor events
In case there is an outdoor event and rain spoils it resulting in loss of revenues, rain insurance coverage provides protection. This policy can also cover for any other liability that you may have to pay for e.g. cost of hiring venue or any corporate sponsorship. You can opt for a structure for a multi-day or single day event and also seasonal coverage. Insurance companies providing weather insurance usually use the National Weather Service reporting station that is closest to verify the weather.
Opting for weather insurance
About 1/3rd of the economy in the country is affected by weather and big insurers are known to have provided weather insurance primarily for big events like a rock concert or a golf tournament. Weather insurance maybe a good option for filmmakers who often go for outdoor shootings.
Although the weather department can be depended upon to know how the weather will be the entire day, it is not possible to get to know the exact data every time. You may not be in a position to know how the weather will be that day and if your event gets ruined, having weather insurance will help.Blog Category