Event insurance value.

Event insurance calculator estimates premium and value for protecting major life events. 30,000 wedding × 1.5% premium = 450 insurance. With 3% claim probability × 30,000 = 900 expected claim value. Insurance worth it - covers cancellation, supplier failure, illness, weather. Major events can lose entire investment without insurance.

Example: 30,000 wedding. Insurance premium 1.5% = 450. Expected claim probability 3% (illness, supplier bankruptcy, venue closure). Expected claim 900 (full event value). Net insurance value 450 (positive expected value). Plus catastrophic protection - rare but devastating event cancellation could lose entire 30k investment.

Event insurance scenarios: (1) Weddings (20-100k typical, insurance 150-500). (2) Major birthday parties (5-20k events). (3) Corporate events (10-100k+). (4) Music festivals/concerts (covers cancellation). (5) Religious celebrations. (6) Anniversary events. Common claims: illness preventing key person attending, supplier bankruptcy, venue fire/flood, extreme weather, COVID-style closures. Providers: Wedding Plan, John Lewis Wedding, Direct Line. Read exclusions carefully - weather outdoor events typically excluded unless add-on. Major events with significant prepayments: insurance typically essential. Skip for cheap/recoverable events.

Run it with sensible defaults

Using total event cost of 30,000, insurance premium of 1.5%, claim probability of 3%, the calculation works out to 450.00. Nudge the inputs toward your own situation and the output recalculates instantly. The defaults are meant as a starting point, not a recommendation.

The levers in this calculation

The inputs — Total Event Cost, Insurance Premium %, and Claim Probability % — do not pull with equal force. Not every input has equal weight. Flip one at a time toward extreme values to feel which ones move the needle most for your situation.

How the math works

Premium = event cost × premium %. Expected claim = event cost × claim probability. The working is transparent — you can verify every step yourself in the formula section below. No black box, no opaque "proprietary model".

When to actually change the habit

Most lifestyle spending delivers real value. The exceptions are the ones that stopped delivering months ago but got auto-renewed anyway, and the ones chosen out of defaults rather than preference. Run this, then audit for those two categories — that's where the easy wins live.

What this doesn't capture

The tool prices the money; it can't weigh the enjoyment. A coffee habit, gym membership, or streaming bundle might cost what the math says but deliver value that's harder to quantify. Use the number to make the trade-off visible — the decision is yours.