When planning an event, whether personal, professional, or any other type of event, there’s a lot more to think about than meets the eye. For example, you may have realized you need event insurance and have questions about finding the right coverage and getting event insurance quotes to minimize costs. Or, you may be wondering, “Do I need event insurance? Really?”
Your experts at ESP Specialty are here to help! Use this checklist to understand why you need event insurance and determine what level of event insurance coverage you need.
Fulfill your venue’s certificate requirements for event insurance coverage
When people begin planning events, it often comes as a surprise when their venue requires a certificate of insurance. You might wonder, “Why do venues require event insurance? Don’t they have their own? Wouldn’t I be covered by the venue’s event liability insurance?”
Event insurance provides general liability coverage and more to protect you and other insureds for anything that’s out of your control at the event. While most or all venues do carry their own event liability insurance, they would want you to prove coverage as well with a certificate of event insurance. Just as two drivers who get into an accident should each have insurance, both the venue and the event host should also have event insurance.
The venue’s certificate of insurance requirements work in your favor, anyways: event insurance helps protect your financial security and gives you peace of mind so that you don’t have to worry about anything going wrong at your event. Get in touch with us if you’re looking for event insurance quotes to fulfill your venue’s certificate requirements.
Get event insurance coverage if you’re serving food or alcohol
If your event includes food or alcohol, you will want to make sure your event insurance coverage includes liquor liability insurance. Countless unexpected things can happen if people become intoxicated. You wouldn’t want to be financially responsible in case someone gets hurt or something gets damaged – but you probably don’t want to deny your guests the pleasure of a drink, either!
Avoid liability resulting from the behaviors or actions of someone who has had a little too much to drink. Get event insurance coverage that includes liquor liability insurance so people attending your event can enjoy their alcohol, and you can enjoy your event (and your own drink, too!).
Protect yourself with event insurance in case of accident, injury, or property damage
Does your event include guests, participants, spectators, or vendors? Will there be any expensive equipment that might get damaged? Is there any chance there could be accidental property damage to the venue? If you answer “Yes” to any of these, you will want to protect yourself with comprehensive event liability insurance.
It would be great if everything at your event went according to plan. After all, no one ever intends for accidents to happen! Unfortunately, there’s a long list of things out of your control that could go wrong. Instead of worrying about all the what-ifs, get event insurance coverage and enjoy your event stress-free.
Get event insurance coverage in case your event is affected or cancelled by weather or other reasons
Did you know the weather is one of the most frequent causes of event cancellation? Cancellation due to the weather doesn’t just include outdoor events. Adverse weather can prevent guests or vendors from reaching your venue and sometimes even damage the venue, preventing your event from being held. Event insurance can help protect your financial interests in case weather or anything else affects or cancels your event.
Cover yourself if your event includes vendors, rented vehicles, or any other workers
Are you renting vehicles, allowing vendors, or hiring any workers for your event? You’ll want the appropriate coverage to cover any injuries, property damage, and more related to these possible liabilities. NOHA (Non-Owned/Hired Auto) insurance, vendor liability insurance, and even in some cases, worker’s compensation insurance are all factors you should consider when determining what level of event insurance coverage you need.
So: “Do I need event insurance?” The answer is almost always yes, whether to fulfill a venue requirement or to protect your own financial interests – or both. Event insurance can seem daunting, complicated, or even unnecessary, but your ESP Specialty experts are here to assure you that it doesn’t have to be!
If you have any questions about event insurance coverage, want to get event insurance quotes, or are looking to obtain a certificate of insurance as fast as possible, get in touch and we will help you every step of the way.
