Accidents happen. Someone can step into a shallow hole on the golf course and sprain their ankle. A guest can slip on a spill on the dance floor and injure their back. An object can fall on a visitor’s toe and break the bone. In each case, the injured person may file a bodily injury claim against your insurance because the incident happened on your property or during your event.
The costs related to a bodily injury claim can quickly add up. An emergency room visit costs around $2,200 on average, and the bill for a hospital stay can total hundreds of thousands of dollars. Liability insurance helps protect businesses and other organizations from this financial liability and expense.
What Can Go Wrong?
When you’re planning an athletic tournament, concert, or special event, the last thing on your mind is how many people can get hurt. You take necessary precautions to protect them by checking for and removing hazards at the venue, hiring sufficient staff to work at the event, and creating rules of conduct for guests to follow.
Ideally, this will be enough to ensure your event will be a fun experience for all and everyone will leave at the end of the day without a problem. Yet, no matter how much you plan, there are some things beyond your control. For example, imagine a visitor at a baseball tournament is struck in the head with a ball. You had no way to know the ball would end up in the stands at the precise spot where someone was sitting — and it could happen despite everyone following all of the rules.
That’s when you turn to liability insurance to pay for the damages and protect the organization’s finances.
Your General Liability Policy May Not Cover Everything
Unfortunately, your general liability policy may not cover everything that can happen during the event. Although they generally pay for incidents that occur in your place of business, the coverage may not carry over to other locations. In fact, some general liability policies specifically exclude special events, leaving business owners on the hook to pay the damages out of pocket.
Even if your general liability policy does cover the event, you’re still required to pay out if the damages exceed the policy limits. You also may find yourself looking for a new policy when it’s time to renew. The insurance company may increase your premium or refuse to insure you again if you’ve filed too many claims.
This is why businesses often purchase separate insurance policies for special events. These policies provide general liability coverage, which includes bodily injury protection and can be customized to meet your specific needs. For example, you may not need liquor liability protection for a children’s event but will likely want it for a wedding, concert, or festival where it’s more common to find people drinking. Similarly, you may need cancellation coverage if you’re planning an event at a time of year known for inclement weather.
How To Choose Event Insurance
When shopping for special event insurance, there are several factors to consider.
- Look for a company with a history of doing business in your area and a positive reputation. You want someone you can count on if the unthinkable happens and you need to file a claim.
- Find out details like how long they’ve been in business, where they issue policies, and the types of policies they sell. This can help you narrow your options to the companies that can best meet your needs.
- Know the types of coverage you need for the event. Will you be serving alcohol? Will there be expensive, sensitive equipment on the premises? How many people will be present? Choose a company that customizes policies, so you get the protection you need for the event.
ESP Specialty Insurance has been in business for more than a decade. Our team will help you get the bodily injury liability coverage you need to ensure your peace of mind. We offer exclusive programs with in-house underwriting — available for athletic camps, leagues, and tournaments, entertainment facilities, and special events like weddings and festivals. Call today to speak to our team of professionals or send us a message online.