Does My Business Need Special Event Insurance?
If you are hosting a dinner, a fundraiser, a wedding, or any other type of event, don’t let a lawsuit prevent you from being successful. Having special event insurance can help protect you from liabilities arising from your event. This coverage is there to help protect against the mishaps that might take place.
What is Special Events Insurance?
This type of insurance coverage is a short-term policy. It helps cover a specific event, party, or celebration you are hosting. There are a lot of parts to a successful event and a lot could go wrong. For instance, if one of your guests drinks too much and gets into an accident. Or, if a candle gets knocked over and causes a fire. Maybe the catering company damages the kitchen of the venue. When these things happen, that’s where it can help with those liabilities.
What Does Special Events Insurance Cover?
Special events coverage can cover some of these things:
- Liquor liability
- General Liability
- Slip and Fall Lawsuits
- Property Damage Lawsuits
The attorney fees, court costs, and settlement costs can add up quickly! But note: this coverage usually only covers the specific event. However, it’s important to talk to your insurance agent to find out the details of your coverage. Talk to them about what is and is not covered in your situation!
Who Needs This Coverage?
If your business is hosting any type of event, it’s worth considering this coverage. There’s a lot that can go wrong! Weddings, fundraisers, company parties, trade shows, and more can benefit from this coverage.
Do I Need Liquor Liability?
Often, liquor liability can be included in your special events insurance coverage. This type of coverage is handy if your event involves alcohol at all. It can help protect against incidents involving alcohol including:
- Property damage
- Someone injures another guest
In certain states, there are laws that hold the host liable for the actions of their guests. So if one of your guests decides to indulge a bit too much, you could be responsible for those consequences. If you have alcohol at your event, getting liquor liability is a good idea.
How Much Does It Cost?
The cost of this insurance coverage can vary depending on your event. For small events, it could be a few hundred dollars. However, if you are putting on an extravagant event, the cost will be higher. Will you be serving alcohol at your event? Liquor liability will also cost more since there is more risk involved! Your coverage limits also dictate the cost of coverage. Talk to your insurance agent to figure out the right amount of coverage for your event.
No matter the size, scale, or grandeur of your event, special event insurance can help protect your from the things you can’t predict. Consider talking to your agent about getting coverage for your next event!
Chat with an Encharter agent about special events coverage today at 888.754.8299!