From intimate office Christmas parties to extravagant multi-day festivals, any special event you organize and host makes you responsible for your guests, the venue and anyone who could be harmed because of your events. The good news is that event insurance for your event is affordable and can give you the insurance coverage and peace of mind you need so that you can focus on making your event an enjoyable experience your guests will never forget.
Most venues will require you to provide evidence of liability insurance as part of the rental agreement for obvious reasons, but even if they don’t, or you’re hosting an event on your own property, having liability insurance is still the smart decision.
Hosting an Event? Don’t Take Chances
It’s probably easy to understand that as a host, you are responsible for the safety of your guests and the space you’re using and an event insurance policy will help you. What may not be widely known is that you are also responsible for your guests’ actions once they leave the event if it involved the serving of alcohol. So if one or more of your wedding guests, for example, drives home intoxicated and injures someone or causes property damage to the venue, or assaults someone or vandalizes someone else’s property, the affected party could sue you making a wedding a key event that needs event insurance. Even if you are eventually found not to be legally liable, the costs to defend yourself or your company for liquor liability in court can get overwhelming. An event insurance coverage policy for your event can not only cover your legal fees, but it can also cover any settlements you reach, awards for damages you’re ordered to pay and medical bills as well.
What type of insurance do I need for an event?
In addition to Commercial General Liability Insurance for your event, you are also responsible for what may happen to your guests after they leave your festival as a result of alcohol, so liquor liability coverage is an essential add-on to your CGL coverage. Other coverages may apply to your individual event.
How does festival insurance work?
Whether you are hosting the event on property that you or your company owns or whether you are renting a venue for your festival, it would be best to consider Commercial Liability Insurance coverage. Most venues that you rent from will require you to have this coverage in place and often other coverages. Having liability insurance means that you will not have to pay out of pocket if a liability claim is made against your festival. This type of claim can be made through no fault of the event or its organizers. Sometimes, injuries or other mishaps happen when the public is present at a venue.
Other coverages may include Commercial Auto Insurance, Commercial Property Insurance, and others, depending on your setup and event. Liquor Liability coverage can be added to your CGL if you serve liquor at your event.
What is the purpose of event insurance?
Hosting an event means that you become responsible for the attendees. As the host of a festival or event, you have a duty of care to those who attend and who could be injured or have their property damaged and ensure the safekeeping of the venue. Notably, the purpose of event insurance is to ensure that, as the event organizer, you do not have to pay any claims out of pocket. CGL coverage includes the costs of defending against a claim in court and any damages that have to be paid out.
How much does it cost to insure a festival?
The cost to insure a festival will depend on various factors and be related to the risk involved in your particular event. Insurance brokers will assess your risk based on past similar events, events you have previously hosted, the projected number of attendees, the projected revenue, and other factors. Once the risk factors are determined, a quote will be generated.
Other insurance liability factors to consider for your event can include:
- Having clearly visible emergency exits and an evacuation plan for the venue in place
- First-aid facilities and/or personnel on site
- Safety checks for all equipment being used including stages, scaffolding and risers
- Having proper/adequate lighting
- Hiring security personnel
- Using licensed and/or third party bartenders that carry their own insurance
- Policies for bad weather contingencies for outdoor events such as a wedding or other special event
Liability Insurance for Events Big and Small
You can get an event insurance policy no matter what it is. We’ve listed the most common events that are typically available and insured by hosts to protect themselves from event liability for coverage.
- Office and house parties
- Parties in rented venues
- Picnics, barbeques, family and school reunions
- Stag and Does
- Meetings, conventions, conferences
- Job fairs
- Speaking engagements, lectures, workshops
- Award ceremonies
- Charity events
- Plays, festivals, recitals, musicals
- Sporting events, tournaments
- Multi-day events
How much will Liability Insurance Cost for your Event?
The cost for events liability insurance depends on what’s available for the specifics of your event which includes; number of guests, any past claims, the type of event it is and more:
- The venue/location
- Length and date of the event
- Whether alcohol is being served
- Third-party vendors or staff
- The liability limit for your coverage
When it comes to event insurance liability coverage limits for an event, coverage policies quotes typically start at $1,000,000 and can be increased to $2,000,000, $5,000,000 or more. While you might not feel you need that much liability coverage, personal injury claims can easily exceed $1,000,000 per insurance claim and depending on the risk factors, it might make sense to protect yourself with a policy that has a higher limit such as weddings, concerts, and other events – especially when considering the difference in the cost for a higher limit.
For a free, customized quote, get in touch with insurance brokers who will discuss all the details of your event with you for the coverage that makes sense.
Hosting an Event? ALIGNED’s got you Covered
You’ve got enough on your mind as the organizer and host of that New Year’s Eve party, wedding or professional association conference. The last thing you need is having to worry about getting sued for your troubles, especially after the fact. Get in touch with an ALIGNED broker and protect yourself in a matter of minutes so that you don’t have to worry that despite your best efforts, things could still go wrong and you’ll be left to deal with the fallout.
ALIGNED brokers are advocates for you, meaning they work on your behalf to make sure you’re fully protecting while getting you the best rates for that protection. We are liability specialists that care about our clients.
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