Special Event Insurance
Special events are often held by businesses for a variety of reasons. The event could be a holiday party, a promotional event, a benefit, a fundraiser, or other types of events. Special Event Insurance is designed to provide liability coverage for these events. Commercial Package and Businessowners’ policies do not usually include coverage for special events which is why Special Event Insurance is needed.
For events on and off the insured premises, liability coverage is necessary in the event of property damage, or an injury. Another benefit is that Special event coverage usually includes event cancellation coverage, for pre-paid costs incurred for a canceled event.
Events can be one-day events or more than one day, but usually, the days need to be concurrent for multi-day events. Some liability carriers can add special event coverage by endorsement to the existing policy. Stand-Alone Special Event Insurance is another way to get coverage.
For events that include serving alcohol, host liquor liability coverage will also be needed, and something the vendor will provide coverage for this.
The premium cost will depend on how many days the event will be, the expected attendance, and the limits of liability that are chosen. Some venues require specific limits, such as $1,000,000, and usually require to be named as Additional Insured for the event. Coverage is usually very affordable.
We have multiple markets for special events for your non-profit or business. We can get quick and affordable quotes for your business events. Contact us today for more information or for an application.