Clarity on costs: How event insurance works (and what to expect)

How much does event insurance cost? It’s a question we hear all the time. And fair enough — if you're planning an event, you want to know what you're getting into. The good news? It’s simpler than you might think. In this article, we explain how event insurance works, what affects the cost, and how you can stay in control of your budget.

One policy, multiple options

With No Risk, you don’t need to piece together different policies. You choose one event insurance policy and select the coverages that suit your event. The most common options include:

• Cancellation: Covers costs if your event unexpectedly can’t go ahead — for example, due to bad weather or permit issues.
• Extreme weather: An add-on for outdoor events. If your event can't proceed safely or responsibly because of extreme weather, this coverage reimburses your costs.
• Non-appearance: Also an add-on to cancellation coverage. Useful if the event depends heavily on one individual (like an artist).
• Liability: For situations where someone files a damage claim against you.
• Equipment: Covers damage to or theft of your own or rented items, like staging, lighting, and sound.
• Personal accidents: Covers medical expenses if someone working at your event is injured.

Which coverages you choose depends on the type and scale of your event. Smaller events often just choose liability coverage. For larger ones, cancellation, equipment, and accident coverage are more commonly added.

Extreme weather and non-appearance coverage are relevant for outdoor events, or if your event heavily depends on one performer. And while every situation is different, the most common order of coverages is: cancellation, liability, equipment, and accidents.

What affects the cost?

Your premium depends on a few key factors:

• Number of attendees
• Total production costs
• Replacement value of rented equipment
• Selected coverages

Cancellation, severe weather, and non-appearance are typically more expensive coverages — but they're also where most of the major claims come from. For larger events (starting at around €100,000 in production costs), they’re often essential.

Note: For larger events, having a safety plan is required — not just for your permit, but also to qualify for liability coverage. This usually applies if your budget is high or the event takes place abroad.

Get instant insight into your premium

Want to know what your event insurance will cost? With No Risk, you’ll find out right away. On our online application page, just enter a few details and you’ll immediately see:

• which coverages you can choose
• how much each one costs
• what your total premium will be

It’s easy to compare, transparent from the start, and helps you avoid surprises.

Smart planning isn’t about cutting corners

We’ll be honest: your insurance needs to be solid. It’s not about finding the cheapest option — it’s about getting the right protection. That said, there are benefits to planning ahead.

In 2023, we saw a clear example of that. Organisers who arranged their insurance in January received full reimbursement for weather-related damages. Those who waited until June were only partially covered, because a clause had been added due to an unusually wet spring.

Booking early means more certainty — and sometimes even better coverage.

Factor insurance into your budget early

Insurance often gets pushed down the list. But with our online tool, you can get a clear picture of your event coverage costs early in the planning phase. That way, you can budget accordingly and avoid last-minute surprises.

Event insurance with No Risk

At No Risk, we don’t offer standard packages. We tailor your policy to your event. You choose what you need, and we make sure it’s properly arranged — clearly, efficiently, and without unnecessary costs.

Curious what your event insurance will cost? Calculate it here or get in touch — we’ll gladly help you figure it out.