As an event planner, you probably have a long list of things to do. There are a lot of things to think about, like picking the right venue, suppliers, and dates. Event insurance is something that shouldn’t be forgotten.
But it can be hard to understand how insurance for event organizers protects you. We’ve explained the different kinds of one-time event coverage and what a typical policy includes.
Why need event insurance?
No matter how well-planned an event is, things are bound to go wrong. If a member of the public gets hurt at an event you are running, it is always best for your company to be protected from liability. This is why insurance could make all the difference, even if it doesn’t cover everything.
Type Of Insurances
Companies can think about different kinds of insurance for managing events. Each gives a different kind of protection, but they can all work together to make a full plan.
Public Liability Special Event Insurance
This is the main thing covered by most insurance policies for people who plan events. Public liability insurance for events is meant to protect you if someone else gets hurt or their property gets damaged by an accident.
Even though most events should be set up to keep people safe, accidents can and do happen. This could happen if someone tripped over wires and hurt themselves or if a loose part of the stage fell on a visitor.
Someone who was injured at your event may decide to file a lawsuit against you. If you have adequate special liability insurance, your insurer will pay for your legal representation. Coverage will pay any judgment or settlement if you or your event is found at fault.
Fire Insurance
Fire insurance covers the company’s equipment brought in for the event, such as Audio Visual speakers and lighting systems. This is to reimburse for the tools and equipment brought in for the event. Depending on how big the event is, some of the equipment and machinery that is brought in can be both expensive and valuable.
So, all fire insurance protects against:
- Event property that is owned, rented, or borrowed can be covered.
- Stock in trade
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