Big Moments, Big Risks: Marketing Event Insurance

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Event insurance is equally important for organizers, venues, and event guests. The big event arrives after months of preparation. The event organizers can only hope that everything goes off without a hitch. 

As a broker or agent, you may be painfully aware of the many things that could go wrong when large numbers of people congregate in a small space. Event insurance protects against weather risks, unexpected cancellations, liability, and property damage.

Event insurance policies abound. The challenge lies in demonstrating value within your marketing strategy to help you stand out in this niche insurance market. 

With the right sales and marketing alignment, you can build trust, generate leads, and convert more event planners into policyholders.

Shortcuts

Consider the Scope of the Event Insurance Market

Positioning Your Event Insurance Products

Addressing Common Objections About Event Insurance

Case Study of Successful Marketing for Event Insurance

Event Insurance: Focusing on the Fun, Not the Risks

Consider the Scope of the Event Insurance Market

Much of your marketing strategy for event insurance should revolve around potential event types, key decision-makers, potential event risks, and trends in event planning. 

Types of Events

Think outside the box about the types of events where event insurance is an appropriate safety net. 

Here are some ideas of how to segment your market:

  • Weddings
  • Anniversary parties
  • Class reunions
  • Family reunions
  • Baby showers
  • Quinceaǹeras 
  • Festivals
  • Concerts
  • Corporate Events
  • Community gatherings
  • Trade shows

Keep your eyes and ears open for other event types where the organizers could benefit from an event insurance policy.

Key Decision-Makers

Lots of people may be involved in planning a special event, especially if the attendance will be large. For the best results, you’ll need to find out who the key decision-maker is. The decision-maker may be obvious if the event is a small family function. 

For larger functions, you may need to contact someone serving in one of the following roles:

  • Party hosts
  • Event planners
  • Venue managers
  • Vendors
  • Board members

Here are some steps you can take to identify whose responsibility it is to make financial decisions:

  1. Research: Check out the organization’s website if they have one under the “About Us” or “Leadership” section. 
  2. Search social media: Check out the organization’s LinkedIn, Facebook, or other pages. 
  3. Network: Attend network events such as wedding expos, conferences, or trade shows.
  4. Socialize: Ask people you know if they are planning an event or know someone who is.

Once you identify the right person, you can try to schedule an appointment to help them understand the potential risks of their event and how event insurance can solve the problem. 

Potential Event Risks

Anything could happen that could cause property damage or injuries. Here are some examples of things that could happen at an event that you can share with prospective event planners to encourage them to purchase event insurance:

  • Someone knocks over the wedding cake table
  • Something falls from the ceiling and crashes into the gift table
  • The weather forces the event to be cancelled
  • A guest has a medical emergency
  • A fire breaks out
  • A vendor cancels
  • The crowd gets out of control
  • Someone knocks over and damages the DJ’s equipment
  • A guest gets drunk

As to the final bullet point, event insurance policies don’t typically cover liquor liability. Some policies allow hosts to add liquor liability coverage onto their event policy for an additional premium. 

Hosts who plan on serving alcohol at an event should seriously consider purchasing liquor liability insurance in case guests overindulge in alcoholic beverages. 

Prospects will be more inclined to hear you out when you can demonstrate that you’re in the loop about trends in the event industry. 

Event Trends That Are Reshaping the Industry

Hosts and event planners may be on a quest to wow their guests by creating a one-of-a-kind experience for guests. 

These are some of the recent trends in event planning to discuss with prospects, which will help reinforce the need for event insurance. 

  • Multiple formats: Risks of problems with in-person, hybrid, and virtual attendance
  • Fireworks: Risk of fire hazard or injuries
  • Technology: Risk of malfunction or security risk
  • Liability requirements: Venues require liability insurance

As you gear up to sell event insurance, you’ll need to direct some of your marketing efforts towards selling and cross-selling event insurance. 

Positioning Your Event Insurance Products

Event insurance generally includes liability and property damage coverage. It can also include cancellation coverage and liquor liability, or these may be add-on coverages. 

Cater your marketing materials to the target audiences you want to reach. For example, wedding rings, flowers, and rings will draw the attention of engaged couples and their parents. A photo of a room-filled meeting space will entice a corporate meeting planner to learn more about event insurance. 

Whatever your target audience is, you can create a customized slide presentation for each audience, explain the coverage options, show a value proposition, and highlight your expertise in this niche.

Defining Your Target Audiences

Be clear on your target audience, whether it’s corporate event organizers, wedding planners, festival event coordinators, or family members planning a family event. For example, there are niches within the event insurance niche.

Design your slides so they speak to the joyfulness of their event, the pain points they could encounter, and the solution, which is an event policy.

Highlighting Coverages

Prospects may have a general idea about event insurance but may not understand what coverages they need or how they’d come into play if they have a claim. 

Slides are a good way to break down coverages and what the insurance company would pay in the event of a claim. You may also want to use slides to highlight add-ons, customer service, and the claims process. 

Developing a Clear Value Proposition

The value proposition for event insurance is that the premium is relatively low compared to the available coverage amounts. 

In a perfect world, a well-planned event carries on without an incident. It’s hard to place a value on the host’s peace of mind in knowing everything will be handled smoothly if something unexpected happens that negatively impacts them, their guests, or vendors. 

Building Credibility

Close out your slide presentation with information about you, your business, and the difference you’ve made for your clients. Partnerships will also help you earn trust and credibility. 

As good as your presentation may be, prospects may not be ready to buy immediately. They will likely have some questions, so be prepared to answer them and be able to overcome their objections to making the sale on the spot.

Addressing Common Objections About Event Insurance

A lot of a prospect’s hesitation about purchasing event insurance may have to do with not wanting to incur the extra expense. They may decide it’s not worth the investment. 

The key to getting prospects on board is to present event insurance so that they feel confident with their purchase. 

As with overcoming objections for any other type of insurance, you need to understand that every objection is an opportunity to educate the client and earn their trust. 

Here are some of the common objections you should be prepared to get about purchasing event insurance. 

  • It’s too expensive: Compare the small cost of the policy to the thousands they may have to pay in the event of a claim.
  • I don’t need it:  Share real-world examples of cases where clients like themselves failed to get event insurance, forcing them to pay huge sums out of their pockets.
  • I don’t have time to deal with it right now: Say that it’s understandable considering all they need to prepare for the event. Offer to send a quote and follow up at their convenience.
  • I need to consult with my spouse or partner: Offer to reach out to them and review everything right away. If the timing is not good, schedule a second appointment. 

Offering transparency, answering the hard questions, and sharing real client stories should make the appointment ripe for a sale.  Your expertise, along with a little empathy, should win your prospects over, allowing you to close the sale.  

Case Study of Successful Marketing for Event Insurance

We’ll outline a mock case study of how successful marketing for event insurance can work for you. Let’s say the Hometown Insurance Agency wanted to broaden its product offerings to include event insurance. 

Background

Mary, an independent insurance agent in the Chicago area, enjoyed attending her community’s weddings, festivals, and corporate events. After witnessing some cancellations, accidents, and weather incidents, she realized she could serve her community by offering event insurance. 

Mary set out to position herself as the go-to agent for event insurance to help her community and strengthen her book of business. 

Strategies Used

Targeted Partnerships

Mary built relationships with wedding planners, event venues, and caterers, offering them co-branded brochures about event insurance.

She arranged referral agreements so these professionals could send their clients directly to her when insurance questions came up.

Content Marketing

Mary created a blog series called “What Can Go Wrong at an Event—and How to Protect Yourself”.  She added videos to her blog to deepen engagement. 

She promoted content on social media platforms popular that were with event planners. She also mentioned her services on local Facebook groups where brides and small business owners exchanged advice.

Local Sponsorships

Mary sponsored a booth at a regional bridal expo. She offered a free consultation and a chance to win a “Peace of Mind” consultation on their event insurance and their home and auto policies.

She also gave short presentations at the Chamber of Commerce meetings about risk management for community events.

Simplified Process

Mary invested in a screen-sharing tool that allowed clients to apply for and purchase coverage online.

Measuring Results

Lead Generation: Within 6 months, Mary generated over 150 qualified leads, primarily through referrals and expo contacts, which accelerated her sales.

Policy Conversions: She converted 40% of those leads into policies, totaling over $25,000 in new premium revenue.

Engagement: Her blog posts averaged over 500 views each. Several clients said they discovered her through her “What Can Go Wrong” blog series.

ROI: Sponsoring the bridal expo cost her $1,200, which was offset by the new clients she gained. She could also  repurpose those leads by adding them to her home and auto insurance lead funnel.

Lessons Learned for Other Agents

  • Partnerships amplify reach: Aligning with venues and planners put Mary in front of clients before they even thought about insurance.
  • Education builds trust: Her content marketing positioned her as an expert rather than a salesperson.
  • Events need convenience: The screen-sharing tool reduced friction, making it easy for Mary to close the sale on the first call. 

By measuring leads, conversions, and ROI, Mary doubled down on sponsorships and digital content, while pulling back on less effective print ads.

Key Takeaway

Agents who combine local networking, education-based marketing, and streamlined tools can build a profitable niche in event insurance—while giving clients peace of mind. Mary’s results speak volumes. 

Event Insurance: Focusing on the Fun, Not the Risks

According to Allied Market Research, the global events industry could reach $2.5 trillion by 2035. The most popular events are conferences, exhibitions, corporate events, fundraisers, concerts, sporting events, music and art events, festivals, trade shows, and product launches. 

By starting today, you can tap into this market and keep it going for the next decade, and possibly longer. 

Ideally, an effective marketing strategy for event insurance encompasses digital marketing, community involvement, and partnership strategies. This approach will help you stand out, convert more clients, and build long-term success in the event insurance market. 

CrankWheel’s screen-sharing tool can help simplify and expedite the process for clients needing event insurance. Sales will more likely close on the first appointment. 

To learn more about how easy it is to use CrankWheel and learn more about its features, sign up for a free trial today.