When purchasing event coverage, there are several insurance coverages to consider to protect against potential risks and liabilities associated with hosting an event. The specific insurance policies you need may vary depending on the nature and size of the event, as well as the potential risks involved. Here are some insurance coverages commonly associated with event coverage:
- General Liability Insurance: This coverage is fundamental for event organizers and provides protection against claims for bodily injury or property damage caused to third parties during the event. It typically covers medical expenses, legal fees, and settlements or judgments if you’re found liable.
- Event Cancellation Insurance: This coverage safeguards against financial losses if the event is canceled, postponed, or curtailed due to unforeseen circumstances beyond your control, such as extreme weather, natural disasters, or unexpected circumstances. It can help cover expenses already incurred or lost revenue due to the cancellation.
- Property Insurance: If you own or are responsible for the event venue or equipment, property insurance can protect against damage, theft, or loss of property. It typically covers the physical assets used for the event, such as structures, equipment, and supplies.
- Liquor Liability Insurance: If alcohol will be served at the event, liquor liability insurance is essential. It provides coverage for alcohol-related incidents, such as injuries, property damage, or accidents caused by intoxicated attendees. This coverage is particularly important if you are serving or selling alcohol at the event.
- Workers’ Compensation Insurance: If you have employees or volunteers assisting with the event, workers’ compensation insurance is crucial. It provides coverage for medical expenses and lost wages if an employee or volunteer is injured or becomes ill while working at the event.
- Special Event Liability Insurance: This coverage is specifically designed for events and can provide additional liability protection beyond general liability insurance. It can include coverage for various risks, such as personal injury, property damage, and lawsuits arising from the event.
- Non-Owned and Hired Auto Liability Insurance: If you are renting or using vehicles for the event, non-owned and hired auto liability insurance can protect you from liability in case of accidents or damages caused by those vehicles during the event.