Special event insurance anticipates the unpredictable.
Event planning can be exhaustive, even for a one-time fundraiser or corporate function. While you hope the gathering goes off without a hitch, unforeseen incidents can happen. For instance, a guest slips and falls on a wet floor. Adequate insurance coverage can protect someone hosting, sponsoring or working as a vendor, in the event something goes awry.
In these situations, special event insurance plays an essential role. This group of policies assists with:
- Coverage of property damage to the venue.
- Any injuries that happened during or as a result of your event.
- Helping the insured meet the venue’s insurance requirements.
Consider special event coverage if:
- The venue requires special event insurance.
- Your homeowner’s policy limits do not meet the venue’s insurance requirements.
- Your event goes on for multiple days.
- The event is planned in multiple locations (i.e. traveling lecture series).
- You don’t own the event venue.
Types of Special Event Insurance
As a baseline, events require liability. The following types of coverage may be recommended for these areas.
Event Liability Coverage
Your policy may assist with costs related to:
- Repairing property damage at the venue, including the facility itself and any equipment.
- Medical expenses, in the event someone is injured.
Other Coverage Options
Additional policies or endorsements further address potential incidents that could arise at an event:
- Liquor Liability: If alcohol is negligently served and someone drives drunk, injuring someone or damaging property in the process, you could be held liable.
- Medical Payments: In the event a guest is injured, this policy helps cover medical expenses.
- Vendor Deposits: Helps recoup costs related to closures, double booking and insufficient or low-quality services.
Wedding Event Coverage
Weddings inherently come with their own set of risks. As you plan for this special day, consider the following wedding-specific coverages:
- Event Cancellation: This policy reimburses you for all deposits and fees in the event you have to postpone or cancel and may help you find a new venue.
- Photography and Videography: Coverage for no-shows, lost or damaged files.
- Wedding Attire, Jewelry, Gifts: Endorsements may help replace lost or damaged items.
Who Needs Special Events Insurance?
These policies are recommended for plenty of events, including antique shows, banquets, sporting events, pageants, conventions, galas, job fairs and more. If your private company, nonprofit or local Chamber of Commerce hosts parties, fundraisers, conventions or other large-scale business functions, insurance acts as a safeguard against the potential risks.