Whether you are hosting a private event or planning a celebration at a venue or at your own home, Special Event insurance should be on your to-do list no matter where or how big or small your event is.
Special Event insurance is one way to protect your investment in your festivities and secure coverage for the potential risks you may face.
What is Special Event insurance and What Can It Cover?
Depending on your specific type of event you are holding, your coverage needs may differ, but Special Event insurance will typically have the following two coverages added:
- Event Liability: This protection helps cover expenses for which you are found responsible, such as property damage to the rented venue or someone’s injuries during your event. Most events will require you to have this coverage. If a guest, for example, trips and falls and/or damages a venue’s table or décor, the costs for the medical bills and the replacement costs for the property may be covered.
- Event Cancellation coverage: Certain situations may arise, forcing you to unexpectedly cancel or postpone your event and many venues and vendors do not offer refunds on your deposits. Whether due to extreme weather, a key vendor canceling, or someone falling ill, this cancellation coverage helps pay for costs you incur, such as lost deposits and fees when you cancel or delay your event.
Having an Open Bar or Cash Bar?
- Host Liquor Liability: If you are wanting liquor to be served at your wedding or other special event, you may add Liquor Liability coverage to your Event policy. This coverage adds a layer of protection in the event an alcohol-related incident occurs, resulting in property damage or bodily injury. As the event host, you may be held responsible for a guest’s actions because they were served alcohol at your event. Liquor Liability insurance can help cover costs associated with lawsuits, medical bills, and property damage.
What Events Does Special Event Insurance Cover?
Examples of covered events are:
- birthday parties
- anniversary parties
- graduation parties
- family reunions
- baby showers
- religious celebrations
While exclusions may vary, bachelorette and bachelor parties are typically excluded from coverage.
When Do You Need to Purchase Special Event Insurance?
It’s a good idea to get a quote for Special Event insurance as soon as you start making deposits, purchases, booking vendors, and really planning for your event.
*Are you or a business hosting a public event, such as a convention, conference, fundraiser, business party, etc. and this isn’t the right event insurance you are looking for? Visit our Event Insurance page to learn more about the coverage you need.