Putting together an event can be stressful. Dates have to be set, guests invited and a building has to be reserved- not to mention the hard work that it takes to make sure that everything is flawless. But despite the best plans sometimes things don't work out- this is when event insurance comes in. Acquiring event insurance decreases your responsibility for accidents and presents you peace of mind knowing that you're taken care of if anything bad occurs.
What type of coverage does event liability insurance offer? That's determined by the sort of event you're holding. Underwriting a retirement party is different than covering a circus and you may not be able to find a one size fits all insurance plan that covers every type of event. Most insurers cover a wide range of events, but they have separate policies for each type, because each type of event poses different risks and needs a different level and type of coverage. Make sure you speak to a representative to ensure that you've chosen the right coverage type for your event before you purchase your event insurance. There are, however, a couple parts that all insurances share.
First, event insurance primarily protects you, the facility and oftentimes a couple important guests. It is not made to cover people you contract to work at your event. For example, the caterer for your event ought to have their own liability insurance because your insurance most likely won't insure them.
In addition, liability insurance covers you primarily damage to your property and bodily injury claims. A few underwriters add host liquor liability while other insurers bill extra for that type of coverage. Event cancellation and inclement weather protection may also be purchased, but most of the time isn't built in with the general liability policy.
Buying event insurance isn't just a good idea- it's also mandatory for many venues. It's a breeze to find a underwriter online who focuses on the kind of event that you're planning to hold and many of them feature online pages that you are able to fill out for a quote. The price of the policy be determined by how dangerous the event is, the number of people attending and the length of the event.
Just remember- the amount you spend on the insurance policy is always cheaper than the amount you'll have to shell out if anything bad happens and you're uninsured!