Allen Financial Insurance Group & The Equestrian Group
Rain Insurance & Weather Insurance
By: Allen Financial Insurance
Whether you are planning a public event such as a parade or vendor fair, maybe even a private beach-side wedding, you may want to protect yourself against financial loss with Rain Insurance.
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.) Products like rain-accumulation or rain-free-hours will allow your organization the ability to stabilize your bottom line.
This policy reimburses you for your net loss should the performance or event be necessarily cancelled, postponed, or rescheduled due to rain fall. 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. The most common events are fairs, festivals, golf tournaments, air shows, art festivals, concerts, TV & Commercial Filming, Corporate functions, Agriculture, Motion Pictures, sporting events, weddings and many more.
Rain Insurance can be purchased by identifying a selected increment of rainfall over a specified time, date, and location and dollar amount of coverage. This is all that is needed to receive a no-obligation quote for a scheduled event from Allen Financial Insurance Group.
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
Rain – Accumulation:
This 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 for a NO-OBLIGATION free quote 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)
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.