Event Liability Insurance
There are all kinds of special events where event liability insurance would be a wise thing to have. This type of insurance protects the host of the event against claims of injury, property damage, negligence, or even illness caused by the event. This could be anything from food poisoning to a slip and fall incident. It also protect against acts of vandalism against the property or theft. In all honesty anyone hosting an event, whether it is run by a large company or an individual, should have some type of insurance coverage to protect against unforseen events.
There are all kinds of companies who offer event liability insurance. Some examples of events that they would cover include but are not limited to: baptisms, baby showers, bar/bat mitzvahs, anniversary parties, weddings, receptions, car shows, craft festivals, theater performances, festivals and more. There are primary limits, i.e. the minimum amount of coverage you can buy from particular companies. An example might be $250,000 for each occurrence, $250,000 for damage, $50,000 for medical, $1,000,000 general aggregate and more. These are only examples and actual amounts depend on your policy.
As with any type of insurance, there are exclusions to event liability insurance. Some events are not covered simply because of the risk they pose. While exclusions differ from company to company, some examples may include bungee jumping, carnivals with rides, mosh pits, balloon rides, aviation events, boat racing and more. You can get a full list of exclusions from your insurance company. If the event you are hosting falls into the excluded category, there are legal waivers that can be drawn up by your attorney to protect you against lawsuits.
To locate event liability insurance, a good place to look is the Internet. Today, insurance companies have websites where you can learn more about their company, the policies they offer and even get quoted instantly for free. You can also sometimes submit your official application online, however an insurance agent will get in contact with you to verify and discuss the information on your application. The application will go through the underwriting process and you will be informed of approval or denial. If approved, you will receive all insurance documents and instructions on how to pay for your policy.
Special event liability insurance is something that is worth paying for, as the costs from a lawsuit could be far more expensive. Any time there is an event where many people are in attendance, there is always a chance something could go wrong. There is no way to predict what might happen, and while it's very possible your event will go off without a hitch, it's always better to be safe than sorry. After you've browsed the different agencies online, you can narrow your list down to the agencies you feel are best for you, get quotes from them and continue on to the application process. Give yourself ample time before the event to take care of this to ensure you get coverage in time.