What is Event Insurance?

Organising an event involves substantial financial investment. Postponement or cancellation of such events due to unforeseen situations is not only frustrating but also results in massive financial loss. Thus, consider buying an event insurance policy to protect yourself financially against the monetary loss caused due to cancellation of an event. You can get high financial coverage by paying an affordable premium of Rs. 599 per year.

Key Features & Benefits of Event Insurance Policy

Take a look at the following features and benefits of an event insurance policy:

Coverage of up to Rs. 3 Lakhs

You can enjoy a high financial coverage of up to Rs. 3 Lakhs against a nominal premium payment.

Monetary loss during an event? Don’t worry!

This insurance plan provides financial security against a monetary loss caused due to the cancellation of a private event or party.

Cancellation due to fire breakout

Get coverage of up to Rs. 3 Lakhs for the financial loss followed by an event being cancelled for a fire breakout.

How to Purchase an Event Insurance Plan?

You can now purchase an Event Insurance Cover online through Bajaj MARKETS. You only need to follow a few simple steps to complete your purchase from the comfort of your home:

  • Choose "Buy Now"

    Tap on ‘Buy Now’ on the product page.

  • Fill in the Details

    Provide the necessary information in an online application form.

  • Pay the Premium Online

    You can pay the premium online using any payment mode that is convenient for you.

You can pay the premium online using any payment mode that is convenient for you.

 

You will receive the membership and policy details via your registered email.

What’s Covered under the Event Insurance Plan?

You can file a claim against this event insurance policy for the following circumstances covered under this policy:

  • Cancellation of an event due to declared official mourning

Get financial coverage due to a cancellation of the event because of official mourning for the death of the serving Prime Minister, President, or Chief Minister of an Indian state.

Note: Maximum coverage provided is up to Rs. 2.5 Lakhs for the event being cancelled on its first day and up to Rs. 50,000 for the event being cancelled on its second day.

  • Damages caused to sets, prop, wardrobe and equipment

Your insurance provider will reimburse the amount to cover the financial loss arising from damages caused to the prop, sets and equipment by a sudden fire breakout or burglary.

Note: Maximum financial coverage you can get in this situation is Rs. 2 lakh.

Policy Details & Specifications

Check out the policy details mentioned below:

  • Membership fee

The membership fee is Rs. 599 per year.

  • Coverage limit

Get coverage up to Rs. 3,00,000.

What’s not Covered under the Event Insurance Plan?

The event insurance cover does not provide financial coverage for the following situations:

  • Financial losses due to adverse weather conditions

This insurance policy does not cover the financial losses caused due to unfavourable weather conditions, unseasonal or seasonal rains, humidity, fog, or sudden temperature changes.

  • Financial losses due to war, riots, or political disturbances

Financial losses due to the event getting cancelled as a result of riots, terrorism, fear, hoax, war, strikes, bandhs, civil commotions, and malicious activities are not covered.

  • Financial losses due to health or personal reasons

Cancellation of an event due to health or personal reasons such as childbirth, menstruation, or suffering from communicable diseases, suicide, or self-inflicted injury is not covered.

  • Monetary loss due to government interference

It does not cover the financial loss caused due to requisition, confiscation, detention, abandonment or destruction by or order given by any government, local or public authority.

Additional Exclusions

Note the following circumstance that this special event insurance plan does not cover:

  • Financial loss caused due to short circuit of equipment, camera, camera lens and machines.

  • Monetary losses due to performing stunts or acts that result in breaching of the law.

  • Monetary loss due to the delayed baggage.

  • Any financial loss arising because of a family member of an individual performing at your event.

  • Losses in inventory or disappearance of antique animal items or other objects.

How to File a Claim?

You can file a claim against your Event Insurance Cover through either of the following ways:

  • Via website

Directly visit your insurance provider’s website, select the correct option, and submit the necessary details to raise a claim against this insurance plan.

  • Email

Send information about the incident to bagichelp@bajajallianz.co.in.

  • Call

You can contact your insurance provider via a toll-free number at 1800-209-5858 to file a claim.

  • Mailing address

You can send the claim documents to the mailing address of your insurance provider - Bajaj Allianz General Insurance Co. Ltd. Bajaj Allianz House, Airport Road, Yerwada, Pune – 411 006.

Irrespective of which process you select to file a claim, submit the relevant documents and policy number to support your claim.

Customer Care Details

You can contact Bajaj MARKETS if you have any questions regarding the Event Insurance cover via email at insuranceconnect@bajajfinservmarkets.in

Event Insurance - Frequently Asked Questions

  • ✔️Do you need to pay any deductible while raising a claim?

    Yes. You need to pay 5% of the claim amount as deductible or policy excess for your event insurance plan. The minimum deductible payable towards this policy is Rs. 25,000 for every claim you file. 

  • ✔️How will your insurance provider settle the claim?

    Your insurance provider will settle the payment for the claim either through a system cheque or NEFT. 

  • ✔️Does the insurance provide financial coverage for events arranged outside India?

    The insurance provider is not liable for reimbursement for financial losses caused for a cancelled event outside India. Moreover, cancelling events due to an official state mourning in Canada and the US is not covered under this insurance policy. 

  • ✔️Can I renew this insurance plan?

    No, you cannot renew this insurance plan. You need to repurchase the same after it expires.

  • ✔️What is the maximum coverage limit of this insurance plan?

    The maximum coverage limit of this Event Insurance policy is Rs. 3 Lakhs.