Getting ready for a big trade show or corporate event? Or maybe hosting something all Spring or Summer where lots of visitors will be participating? Whether it's a Farmer's Market, a music concert, or a client reception... if you have an event coming up, have you thought about all the "What if's?" You want to have the right insurance policy in your corner to back you up. Event insurance can help protect your investment. Last minute cancellations, injury liability at the event, property damage, are all matters to consider.
When I buy special event insurance, what does it cover? When an event must cancel, coverage may reimburse you for things like:
If a patron is injured at your event and you're somehow found to be at fault for the injury
One of your vendors damages a door entryway loading into your event
lost deposits and other fees
your event photographer closes shop
your keynote speaker breaks her leg the day before your paid seminar and you have to postpone as a result - rescheduling the venue, the sound/lights, food, all those fees add up fast!
"Often the venue you're hosting at will require you to have a policy in place. Other times you may simply want to instill peace of mind for you and your family," says Pat Leone of CH Insurance. "A massive event like the Utica BoilerMaker with thousands of participants... that's a given that a policy is required. But it may not be as obvious for a business reception with clients off-site and after hours. It's smart to have a policy in place for that too." You'll want to be certain you're clear as to what your policy covers and doesn't cover.
Usually the policy is for only the day of the event but get it to cover the day before the event as well. In the case of a recurring event, your policy of course would need to cover each date. The Insurance Information Institute digs a little deeper into some of the variables involved.
Event liability coverage may help protect you if you're found responsible for property damage or an injury caused during your event, and many venues require you to have it. If the band you hired damages a wall with their gear, for example, this coverage may help pay for repairs. Some policies also cover incidents caused by your guests. If a vendor backs into the building your trade show is in, if someone (a client having a little extra FUN!) gets a little wild on the dance floor and trips a waiter as he walks by, event liability coverage may help pay for medical expenses resulting from an injury. Again, make sure to read your policy to find out what kinds of situations it does and does not cover.
We're In Your Corner
At CH Insurance, we have a team of specialists with deep expertise in special event insurance as well as other forms of commercial insurance. We're here, in your corner, to answer coverage questions and help you find ways to protect what's most important to you.
Here's wishing you smooth sailing on your event. When you have the right policy in place for those unforeseen "What if?" scenarios, you can have the peace of mind that let's you relax and truly enjoy your event!