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Rain Insurance |
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This policy reimburses you for your net loss should the
performance or event be necessarily cancelled, postponed or rescheduled
due to rain. |
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For outdoor events, rain is the most
common problem, but temperature, wind, lightning, fog, ceiling height,
and visibility can also present problems. For indoor events, snow is the
most common problem, but temperature, wind, or icy road conditions can
also present problems.
Rain insurance coverage protects any
outdoor event from lost revenues due to the occurrence of rain (i.e.,
reduced ticket sales, concessions, etc). Furthermore, this unique
coverage can also be structured to recover any un-recoverable expenses
that your event may liable for even though it is rained out (i.e.,
featured entertainment, venue costs, corporate sponsorships, etc.).
The Insured can structure a policy to protect any single and/or
multi-day event as well as seasonal type coverage (i.e., summer months,
etc.) from the negative effects of adverse weather (i.e., concert
series, golf courses, etc.).
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Products like
rain-accumulation or rain-free-hours will allow your organization the
ability to stabilize your bottom line.
Rain-Accumulation coverage allows the insured the ability to
select an increment of total rain accumulation that they feel negatively
impacts their event (i.e. ¼", ½", etc.) over a selected time period
without regard to the number of times rain begins and ends during the
covered hours.
Rain-Free or Dry Hours coverage allows the insured the ability to
select a number of hours within a given time period in which there is no
rain accumulation (i.e., six hours out of a nine hour period during an
event). An o’clock hour in which the agreed upon threshold is not
exceeded (i.e., if the selected rain free threshold is 1/100” (.01)
inch, rainfall within a 60 minute period (an o’clock hour) must meet or
exceed that increment in order to be considered rainfall). Choice of
threshold for this product is 1/100”, 2/100”, 3/100” or 5/100”. |
The only
information needed to provide a free quotation is as follows:
- Type of Event
- Date(s) of Event
- Hours of Coverage (i.e.
6PM-10PM)
- Location (City &
State/Country)
- Amount of Insurance each day
(i.e. expenses, profits)
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Policy pays the agreed value if the specified weather condition occurs
no gross receipts needed - premium must be paid in full 7 days in
advance. |
| Rainfall Guide
These descriptions are
presented as a guide since many variables such as terrain, drainage and
intensity can alter the descriptions.
0.01"
 The
first measurable amount of rainfall reported by The National Weather
Service. This would not leave puddles on the ground and would slightly
wet the surface. Example: A light shower for 2-5 minutes or a drizzle
for 2 hours.
0.10"
A
light rain for 30-45 minutes, moderate rain for 10 minutes or heavy rain
for 5 minutes. Small puddles would form but usually disappear after a
short while.
0.25"
A
light rain for 2-3 hours, moderate rain for 30-60 minutes or heavy rain
for 15 minutes. Many puddles on the ground that do not disappear easily.
0.50"
A
light rain never reaches this amount, moderate rain for 1-2 hours or
heavy rain for 30-45 minutes. Deep standing water for long periods of
time.
Total Rainfall
The
accumulated rainfall over the insured period without taking into account
how many times it rains over that period. Measurements are taken with a
pre-approved rain gauge, an independent weather observer or rainfall
data from the closest National Weather Service approved by Global
Weather |
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