Abandonment cover
Abandonment or event cancellation insurance can be really useful in some cases where you find you incur additional costs in order to ensure an event goes ahead.
Last modified on: 08/11/2011
For example, your soloist might fall sick on the day of the concert, and you find a replacement for a higher fee at short notice. Insurance in this case would cover the additional cost incurred, provided that the total is less than it would cost to abandon the event altogether.
Don't be caught short...
We have experienced some increasingly tough winters in recent years, and extreme and treacherous conditions have caused many concerts to be cancelled around the country. Abandonment cover has saved the purses of many groups affected in this way. Make sure you have adequate cover!
Premiums
Abandonment cover can be purchased for an additional premium, at the following levels (excluding IPT at 6%) from January 2012:
- £2,000 per event (maximum £2,000 per year): premium £10.60 per year
- £5,000 per event (maximum £5,000 per year): premium £31.60 per year
- £10,000 per event (maximum £10,000 per year): premium £51.79 per year
- £25,000 per event (maximum £25,000 per year): premium £117.41 per year
