Event Liability: If
you or your business holds a special event, chances are you might
need an Event Liability policy. This is because most
events,
especially those off of your premises, can be excluded from your main
General Liability policy, meaning that coverage does not apply. If you
cannot add this event to your General Liability coverage, you can get
liability protection back with an Event Liability policy.
Special Events also pose a unique problem for some self-insured
entities. Often times self-insurance funds do not allow
"Additional Insureds", a provision that is sometimes required by the
owner of the event location. If this is the case, a Special Event
policy can help to fill this gap.
Individuals holding Special Events might need this type of insurance,
too. This is especially true if the event is being held at a location
such as a civic center or dining hall. These types of venues could
require this insurance, and you, personally, could be held liable
should an accident happen during your event and you are found to be
without coverage, even if you have Homowner's insurance.
Common Events that need this coverage:
Company
Picnics
Retirement Parties
Fund-raisers
Parade Participation
Formal Dinners
Weddings
Auctions
This is a small
sample of events that might require a Special Event policy. If you are
curious about whether your event needs
this protection, please contact
us.
Liquor
Liability:
Liquor liability is usually excluded from General Liability
polices, especially if the liquor is for sale (even in a fund-raising
manner), because of the unique risk it poses. If you are holding an
event where liquor is being served, there's a good chance you
could be held liable should someone to whom you served alcohol cause
bodily
injury or property damage. You can help protect yourself with a Liquor
Liability policy. These policies are also known as "Dram Shop" coverage.
Other
Items of Consideration
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Small Business Insurance: Special Event Liability is only a short term
policy. Make sure that your business is insured for other Liability
exposures.
Large Business Insurance: Special
Event Liability is only a short term policy. Make sure that your
business is insured for other Liability exposures.
Bonds:
Some
activities, such as raffles, at a Special Event might require a bond.
It is important to know what activities will and will not be happening
to make sure that you are in compliance with the proper laws.
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| If you are
interested in a quote for any of these lines of insurance or are still
unsure about what exactly your business might need, please contact us. |
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| When
would I need Special Event Coverage? |
Only
by reading and knowing your General Liability policy can you know what
is and is not covered. A lot of companies, however, at least require
notification of any event. Even in this case, if alcohol is being
servered, there's a good chance you would need to purchase a separate
policy to cover that event.
Special Event policies cover only one specific event and at a specific
time. Because of this their premium prices are usually lower than that
of General Liability. Of course, if there are high risk activities
going on, additional liability coverage may be needed.
If you are considering holding an event, even if you're an individual
and not a company holding it, please contact us and we will be more
than happy to help you. |
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