When you are planning a wedding, an anniversary party, or a fundraiser; insurance usually is a topic that doesn’t come up. In today’s lawsuit-happy society, it might be wise contact your independent insurance agent about purchasing a special event insurance policy. This kind of insurance policy can help protect your investment in the event and provide liability coverage for various kinds of claims. Speak with one of our friendly and helpful agents to get the correct coverage.
What is Special Event Insurance?
A special event insurance (through Travelers Insurance) is an insurance policy that helps protect your investment for your wedding, anniversary party or fundraiser. If for some reason you need to cancel the event unexpectedly, this coverage can help protect you from lost deposits. This policy also provides liability coverage in case you are deemed liable for injuries or damages caused during your event. Many venues have started requiring you to carry special event insurance.
Types of Events a Special Event Insurance Policy Covers:
Public events, like sporting events or exhibitions, generally will not be covered by a special event insurance policy. We can help with private events such as:
- Anniversary parties
- Bridal showers
- Religious celebrations
- Holiday parties
- Baby showers
- Trade shows
- Birthday parties
- Flea markets
Coverages for a Special Event Insurance Policy
Depending on what you need, a special event insurance policy will provide several different types of coverage including:
- Event Cancellation Coverage: If you must cancel your event because an unexpected development, this coverage will reimburse you for lost deposits. If your event is cancelled or postponed due to the weather or other circumstances beyond your control, you will have coverage for any fees associated with rescheduling the caterer, vendors or venue.
- General Liability Coverage: This kind of insurance helps protect you against claims of property damage or injuries caused during your event (i.e. if your caterer accidently starts a fire in the building or one of your guests trips and falls and suffers injuries).
- Liquor Liability Coverage: If you are serving alcoholic beverages at your wedding or event, you will need this coverage. It will provide protection against claims under “dram shop” laws that may hold you responsible for damages and injuries caused by a person under the influence of alcohol who became intoxicated at your event.
The Cost of a Special Event Insurance Policy
Any individual or organization who buys a special event insurance policy is protecting their investments and covering their liabilities while hosting their event. The cost of this kind of policy depends on liability exposure based on factors including:
- Number of attendees at the event
- Type of event you are hosting
- Type of entertainment provided, if any
- How long the event lasts
- If alcohol is being served
- Any temporary structures will be used
- If there will be security
Call R.C. Keller & Company Today
If you are in the process of planning an important private event, our experienced agents can help you obtain a special event insurance policy with the coverage you need for the best price. We have been helping the citizens of Schaumburg and surrounding areas since, 1910.
Give us a call at 847-907-4520 or send us an email.