The foundation of a successful special event is good planning. Part of that planning should include an event insurance policy to protect the organizer from injury and property damage claims. At Safeguard Insurance, we’ve been providing special event insurance for 20 years and have covered over 1500 events. Here are some helpful event insurance tips to make sure you find the right coverage.
Verify the Venue Insurance Requirements
Before searching for quotes make sure you understand what coverage is required by the venue. Most commercial locations will require general liability of at least $1,000,000 per occurrence. Larger venues may require higher limits that may require an excess liability policy. You may also find coverage such as workers compensation and hired/non-owned auto liability is required.
It is common for the venue to require you name them as additional insured. Most event insurance policies include this endorsement automatically. There may be an additional premium for certain types of additional insureds, such as government entities that require specific verbiage or a waiver of subrogation.
Consider Liquor Liability Coverage
Many events include the consumption of alcoholic beverages. You should understand the liquor liability laws or “dram shop” laws of the state where your event is taking place. Some event policies include host liquor liability coverage automatically. Other policies exclude any and all claims that result from providing liquor to event patrons. If you are charging for or receiving financial benefit from the serving of liquor, you should consider adding liquor liability coverage to your event insurance.
Vendor Liability and Insurance
If your event includes 3rd party vendors that are selling food, products, or other services you have a vendor liability exposure. Should an event patron be injured at a vendors booth, or sick from consuming a vendors food, the event organizer could also be held liable. Some event insurance policies allow coverage to be extended to the vendors. Or, you could require each vendor to provide you with their own coverage and list you as additional insured. Vendors insurance is generally very inexpensive, often around $50 for a single event.
Work with an Event Insurance Professional
Lastly, make sure you work with an agent that has experience providing event insurance. These event insurance tips are just the beginning of the advice we can offer you. The professionals at Safeguard Insurance have covered over 1500 events in Nevada, Utah, Arizona, and California. We have several event insurance programs available that can cover any size event for up to 90 days. From concerts to weddings, we can help you find the right special event insurance for any situation.