Whether for a concert, festival, sporting event or work function like a trade show, traveling for an event can be very exciting — but also pretty expensive. While unlikely, occasionally big-ticket events can be unexpectedly delayed, which can leave you on the hook for expenses such as lodging, car rentals or meals. And what’s more, sometimes life happens and you may not be able to attend an event due to unforeseen circumstances — and special event tickets are rarely refundable.

For cases like these, it’s wise to protect your financial investment with event delay and cancellation coverage. Here’s what you need to know about event delay and cancellation insurance for both business and personal events, whether the event itself is canceled or delayed at the last minute or you’re simply no longer able to attend due to one of a wide range of potential reasons.

Event insurance in case of a delay

There are many reasons why an event like a concert, sporting occasion, festival, convention, or other special event may end up being delayed. Extreme weather conditions, venue issues, or scheduling conflicts for the performer or presenter are just a few of the most common.

Event insurance can provide coverage for when the start of an event is delayed by at least 12 hours to the next calendar day and you need to make lodging and meal arrangements as a result of the delay. This coverage is available for events for which you’ve purchased your own ticket, and the venue is at least 100 miles from home. Your event delay policy will have a schedule of benefits that outlines the maximum amount for which you can make a claim.

Event cancellation insurance for if you’re unable to attend an event

What happens if you spend a considerable sum of money to attend an event and then you are unable to attend due to unforeseen circumstances? An event cancellation policy may reimburse you for the cost of a nonrefundable, unused event ticket if an unforeseen illness or serious injury prevents you from being able to attend.

Most insurance carriers also provide coverage for if an immediate family member falls ill with a life-threatening injury or illness, or any health issue that requires hospitalization. Other life events that warrant reimbursement are typically the death of an immediate family member, being laid off at work, being required to carry out jury duty, or being involved in a traffic accident on the event date. Members of the military on active duty are also protected if their personal leave is revoked.

A standard travel insurance policy can also come in handy in many instances when your travel plans are forced to change at the last minute. Trip cancellation, trip delay, trip interruption, and standalone cancel for any reason coverage can help protect you from financial loss when even the best-laid plans get turned upside down.

Event cancellation insurance for multi-day events

You can also be protected if you’re unable to attend part or all of a multi-day event or series of events. This type of coverage can come in handy for things like multi-day music festivals, season tickets to the theater, multi-day amusement or theme park tickets, or season tickets for your favorite sports team.

Coverage limits and qualifying events will vary by carrier, but generally, the same unforeseen circumstances qualify for multi-day events as for single-day events. And coverage can reimburse you for a single day missed in the series, even if you’re able to attend the rest of the events.

Coverage options for season or annual passes

Season and annual passes to events or recreational activities can be very expensive, and most purveyors won’t offer refunds if you aren’t able to use your pass.

Particularly useful for ticket purchases such as annual passes to theme parks or season passes to expensive ski resorts, your event policy can reimburse you if you are unable to use your pass for at least 30 consecutive days due to a covered reason. Covered reasons include a serious injury or illness confirmed by a physician, a work layoff, active duty military deployment, or if the serious illness or injury of an immediate family member requires you to provide care for at least 30 days. Your estate can also use the policy to recoup the cost of your season or annual pass in the case of your death.

It’s important to note that for season or annual passes, most insurance companies can reimburse you a prorated amount. For example, if you have a six-month ski resort pass and you’re unable to use the last half of the season due to an injury, you can be reimbursed for half of the amount that you paid up front.

How to file a claim for event cancellation insurance

Regardless of the travel insurance company you purchase through, you’ll always need to provide an original copy of your ticket receipt if you would like to file a claim. The receipt should show the ticket price and any taxes and fees you paid. In the case of a series, seasonal, or annual ticket or pass, the receipt should show the event dates, or the start and end date of the season or term.