Business Insurance for Festivals, Fairs & Parties
Fall: it’s the season of pumpkins, ghost stories, and apple picking. In New England, fall is one of the most beautiful times of the year. With the changing leaves and the brisk air, autumn leaves little to be desired. During this season, festivals and fairs become increasingly popular. If your business is planning to capitalize on various autumn events, make sure that your commercial insurance meets those needs.
No matter where you are taking your business this fall or who you are inviting in (hello trick or treaters!) make sure your business insurance has you covered. There’s always liability to worry about when your business is part of a festival or hosting an event. This doesn’t mean you should steer clear of getting into the spirit, it just means you’ll want to talk to your business insurance agent about your plans first.
Encharter has a lot of great commercial lines clients and our agents helped come up with some common fall scenarios your business may face.
Take a look at what you need to know about fall your business insurance:
- Festivals & Fairs
- Halloween Events
- Advice for Home Based Businesses
Festivals & Fairs
This time of year you don’t have to look far to find a fall festival or fair for some autumn family fun! There are Pumpkin festivals, Apple Harvest Festivals, Craft Shows and more. If your business and employees are going to be part of one of these great events, there are some important business insurance matters to consider.
If you are hosting the event, it is important to check with your general liability insurance carrier to ensure that these events are covered by your existing policy. If not, it’s possible that you may need a special event policy for the fair or festival.
Likewise, if you are the food vendor, crafter or act performing for the crowd, then you will be asked to provide evidence of your own liability insurance in the form of a certificate. You may even be required to name the organization as additional insured on your policy.
Your insurance agent can help you through the process if it is your first time taking part in an event like this. If a request for something like proof of insurance comes up, they will know what to do. Navigating commercial insurance can be difficult, but your agent can help make the process easier.
Are you hosting a Halloween party? If you will be serving alcohol you need to make sure you have host liquor liability. Depending on your business, this may be included in your policy. If your business does not typically involve parties or serving alcohol you may have to obtain a separate policy.
If you are opening up your business to children for trick-or-treating there is a lot of liability that comes with it. If your children are on your property, your business is taking chances that someone could get hurt or even get sick from the candy provided. In this situation, your general liability coverage would respond to this type of incident. One thing to think about is if you have enough general liability. There is also the option to add more liability or obtain excess liability coverage for your business.
If you are hosting hay rides or haunted houses on your property this fall, make sure you have enough coverage. Especially if this is your business property, if someone is hurt you run the risk of your business being sued. Injuries and accidents happen, these events on your property increase that risk.
Vandalism is another thing that may occur around this it me of year. Kids may think its fun to toilet paper or silly string their friends’ houses, but what about if it is your business. If enough damage is caused to your property then your policy would cover your business for this type of exposure. It would also depend on the policy form that is in place and subject to your policy deductible. If you are worried about not having enough coverage in this situation, talk with your agent about it.
Home Based Businesses
Many homeowner insurance carriers offer a ‘business in home’ endorsement for home-based businesses but it is limited in what it covers and the type of businesses that are acceptable. Acceptable types of businesses include: accountants, beauty salons, barbers, interior designers, drapery makers, tailors, pottery studios and pet groomers, to name a few.
If the scope of your home based business exceeds the capacity or availability of your homeowner insurance company, you may secure a business owner policy (BOP). This BOP can consider a wider array of coverage such as coverage for your business personal property, business liability, products and completed operations, and more. This can help address the need for additional insured status if it requested by a store or a fair if you will be present at the event.
A home based business and hosting a Halloween party can get tricky. The lines may be blurred for where your homeowners insurance ends and your business insurance begins. Especially in this situation, be sure to contact an agent before sending out those invites.