Is there a rain policy?

I have seen the joust canceled once due to rain but all other shows went on

The fair goes on rain or shine.

Rain will only cancel the jousting tourneys to protect the horses and riders. ^-^

It's rare, but KRF does close due to severe weather.

Been there in the rain. The joust might get cancelled but the whole Faire still goes on.

If it rains the show goes on but the tourney is stalled down to a duel. No refunds or return pass. The talent is very appreciative of you coming and seems to put a little extra into their acts but there are still some things that they cannot safely do in the rain. Even if it's not raining and the fields are wet some off these things still apply.

I have been there in the rain

There are no refunds for rain. Or vouchers for another day.

It's also mostly sheltered by trees.