When planning any event, certain things are outside the organizer’s control. The same is true for youth sporting events. Large, non-refundable deposits are often on the line, and organizers are rightfully concerned about what will happen to funding if an event is canceled at the last moment. Event Cancellation Insurance offers a safeguard against potential losses.
New threats are emerging that could affect youth sports. Recently, in the Lehigh Valley, numerous games and outdoor events were canceled due to poor air quality conditions caused by Canadian wildfires. Likewise, a Kansas City, Missouri heat wave caused delays and cancellations over the summer for sports leagues that could not shorten the event’s length or move their games and tournaments indoors.
Youth sports organizers should consider Event Cancellation Insurance to safeguard their investments, ensuring they can focus on hosting an incredible event without concern over uncontrollable outside influences.
What is Event Cancellation Insurance?
Event Cancellation Insurance protects against the costs of canceling, postponing, or rescheduling an event due to a weather-related risk. These risks include severity risks, which occur less often but are more devastating when they do occur, and frequency risks, which occur more often but with less potential damage. Severity risks include significant weather events such as hurricanes, tornados, and wildfires. So, in this case, cancellations caused by poor air quality from wildfires fall under severity risks. Frequency risks include rain, snow, thunder, lightning, heat, and cold. The Kansas City cancellations due to excessive heat are an example of a frequency risk. In both cases, Event Cancellation Insurance coverage can help businesses or even individuals better prepare for what is often a serious financial investment.
Event Cancellation coverage ensures that event organizers are reimbursed for their non-refundable deposits or other fees incurred from canceling, postponing, or rescheduling an event if the obstruction is due to weather-related reasons outside the organizer’s control.
Why do you need coverage for event cancellations?
Most vendors will not offer refunds for cancellations or postponements. Any event organizer risks losing their significant financial investment due to situations outside their control.
Cancellation policies often cover these common causes of sporting event cancellations:
- Adverse weather and catastrophic events
- Power failure caused by weather events
- Venue damage from weather-related events
*NOW is the time to ensure your youth sporting event has cancellation insurance that protects it from a sudden cancellation.
Making the right choice for your business
According to Project Play, over half of American kids aged 6–17 participate in team sports. That’s a lot of events that must be planned (and covered) each year. Youth event organizers and clubs take on significant financial risk, from upfront costs to scheduling headaches for events taking place months in the future, and the resulting financial losses can affect the long-term viability of the events.
Youth Sports Event Cancellation Insurance from McGowan Program Administrators (MPA) ensures event organizers and clubs are protected from unforeseen circumstances that may hurt their businesses. MPA has decades of experience providing targeted insurance programs across all sectors and industries.
**Our event insurance portfolios are comprehensive and customizable to ensure you receive the coverage you need to mitigate risk across ALL Lines of coverage, not just the Event Cancellation.
Contact us today to learn how your event can be safeguarded against being canceled, abandoned, disrupted, or rescheduled.