Special Event Insurance Requirements And OptionsIf you are holding a special event, you may be considering or even required to get special event insurance. Many facilities will require an event holder to obtain liability insurance. A special event is generally a short term event lasting one day, a week or sometimes even a month. Some examples of special events that might require special event insurance could be a wedding, family reunion, bar mitzvah, graduation, concert, trade show, parade, auction, athletic event or retirement party. There are several different types of special event insurance coverage that are available. The types of coverage that your event will require will depend on the activities that guests will be participating in or services that you will provide. Some coverage options include general liability, liquor liability, accidental death and dismemberment, rental equipment, event cancellation and worker's compensation insurance, among many others. Special event insurance for event cancellation only applies if perilous conditions exist to the extent that the event cannot continue. Perilous conditions can exist due to severe weather conditions, terrorist activity or other unforeseen circumstances that could be dangerous to event guests. Another reason for event cancellation is if a necessary performer or group does not show up. This applies to events such as concerts or athletic events. General liability is a basic starting point for your special event insurance. General liability insurance is designed to protect you financially in the event that injury or property damage is inflicted intentionally or unintentionally to a guest attending your special event. General liability insurance is usually required by most rental equipment providers and event facility providers. Rental insurance needs to be included in your special event insurance package if you are planning to rent equipment from a third party. Rental insurance will protect you in the even that the rented equipment gets broken or damages. Most equipment rental locations will require that you have rental and/or liability insurance in order to rent their equipment. Liquor liability insurance may be required but it definitely a good idea if you are planning to serve liquor at your special event. Liquor liability should be included with your special event insurance so that you will be financially covered and won't be held responsible for a person becoming intoxicating, an underage person receiving liquor or violations relating to liquor distribution or use. An insurance broker should be able to help you decide which types of special event insurance are required and recommended for your event. A broker will also be able to assist you in determining the amount of coverage you will need for each special event insurance policy. You should also contact any rental equipment companies and event facilities that you plan to use and find out what insurance they require you to carry. This will help you and your insurance broker determine what types and amount of coverage your event will require. The proper insurance will help you and your guests feel relaxed and enjoy your special event to the fullest. |