Insurance for Special Events

Any company, organization or individual that rents space for special events can be liable for damage done during the event.  Special event insurance protects the organizer from liability.

Some venues require insurance to be purchased by anyone renting the premise.  Other venues will cover this damage through their own insurance, and not require the renters to purchase a separate policy.  However, just because the venue does not require insurance does not mean that you, as the renter, will not be found legally liable for damage caused.  If the damage is larger than the amount of insurance the venue carries, they may seek the remainder from you.  Also, an insurance company paying out a claim may subrogate against whoever caused the damage to recoup their losses.

Because of these risks, it is important to consider event liability insurance no matter what size or type of gathering is being held.  With coverage terms flexible and adjustable to the type of event and location, options can be found that will fit into any budget.

These insurance policies will also cover bodily injury that you may be liable for.  This can ward off more damaging lawsuits and keep the reputation of your event even after an accident.

When coverage was needed most…

A mid-sized company was hosting a party to celebrate their 25th anniversary of being in business.  The owner rented out a waterfront restaurant with an outdoor veranda to the occasion.  The party was a huge success, but after dinner the spouse of an employee slipped on a spilt drink on the veranda, knocking over a planter and a table.  some broken glass fell off the veranda and onto some patron below who were exiting the restaurant.  While no serious injuries were sustained, the medical bills and hospital visit were paid for by the special event liability insurance policy the company had purchased for the event.  The damaged planter and broken stemware were also covered by the insurance under the property damage coverage part.  A time of celebration could have turned into a very expensive outing had the company not purchased the event liability policy.

Policy Highlights:

  • Property damage
  • Third party bodily injury
  • Broad range of events covered including: luncheons, dances, fairs, trade shows, fund raisers, parties and more