The spring and summer months open a window of opportunity for family and friends to come together and create wonderful memories. While it’s always a luxury to have the sun shining brightly, hosting an event comes with many other factors to consider. What if your venue goes out of business or a key attendee falls ill? Are you prepared to bounce back if your caterer is suddenly unavailable or attendees no longer have transportation? What happens if someone injures themselves at your event? If a photographer is unable to show up at the last minute, do you have the means to a hire a new one?
Whether you are planning a wedding, graduation, holiday party, business event, fair, craft show or another festivity, there can be a lot to address. Let us share with you what special event insurance covers, so that you have peace of mind and enjoy your event!
Cancellation/Postponement: In the event of cancellation or postponement, this coverage can provide reimbursement for the deposits lost. This will apply if a sudden illness prevents the honorees, parents, grandparents or children of honorees from attending.
Lost Deposits: Lost deposits can provide coverage if a vendor goes out of business, declares bankruptcy, or simply fails to show up. For example, if your band or your limo provider fails to show up, this coverage can reimburse your lost deposits.
Event Photographs & Video: This can provide coverage if your photographer’s film is defective or photos are lost or damaged. Such coverage also protects you in the event the photographer forgets to insert the memory card or fails to remove the lens cap off the camera before taking photos. You will be reimbursed for the cost of reconvening to take new photos or video.
Liability Insurance: Liability insurance protects you in the event of bodily injury, property damage, and personal injuries to your guests at the location of your event. A venue may also require you to secure this coverage prior to hosting. This coverage is sometimes optional; however, it is often the most important coverage. Let’s look at an example of friends and family attempting to catch the bouquet at a wedding. If someone falls to the ground or bumps into another guest, they could choose to sue, should it result in an injury. Liability insurance will provide defense and pay out any settlements if the bride is found negligent.
Liquor Liability: If you plan to serve alcohol at your event, it is recommended that you purchase this optional coverage. It is only available if you have included liability insurance and can be added for a nominal fee. Liquor liability coverage is designed to protect you and your immediate family against alcohol-related accidents. For example, if an accident is caused by an intoxicated guest at or away from the event site, that could result in liability for you.
These examples highlight some of the coverage included in special event insurance. It’s important to review all of your needs with your agent. This insurance can help protect your financial investment and the ones you love in the event of liability. Please contact us today! We can provide you with peace of mind so you can begin looking forward to your special day with family and friends!