Special Event Insurance

Your business insurance protects you during your typical daily operations, but you might not be covered if you host a special event, like a fundraiser or party. Adding on events insurance gives you the extra, temporary coverage you need to make sure you’re protected during these occasional events.

What Is Special Event Insurance?

Insurance for special events that are outside of your normal business activities provide extra coverage for the extra risks that come with hosting events. Your event liability insurance can apply for many events, like holiday parties, fundraisers, staff retreats, fundraisers, trade shows, and special marketing events.

Event liability insurance is versatile and is added on to your business general liability insurance. You can choose a policy that covers a one-day event, or choose a multi-day policy for a longer event.

Do I Need Special Event Insurance?

Hosting a special event carries many risks. A guest could injure themselves during the event and sue your business for medical bills and other expenses. Your business could accidentally damage the venue’s property, and you could be liable for the repair expenses. Special event insurance helps protect you against those risks.

Additionally, if you’re going to be holding your event at a property that your business doesn’t own, the property owner will probably require you to have a minimum amount of event insurance.

What Does Special Event Insurance Cover?

Event insurance coverage can vary depending on your needs and the insurance provider, so be sure to carefully read your event insurance policy. Most event liability insurance policies will include several coverage types:

Bodily injury liability will pay for medical bills or legal fees if someone sues your business for injuries they sustained while at your event.
Property liability coverage helps pay to repair or replace an employee’s or the venue’s property that might be damaged during the business event.
Cancellation fee coverage can reimburse you for lost deposits and other cancellation expenses if you’re forced to cancel your event because of extreme weather or factors that you cannot control.
Liquor liability coverage helps to protect your business if an intoxicated attendee causes physical or property damage.

While event insurance can cover many of the risks of hosting an event, most policies exclude some higher-risk activities, such as sporting events, obstacle courses, trampolines, and fireworks. If you plan to incorporate those types of activities, you will need additional coverage to protect your business.

How Much Does an Event Insurance Policy Cost?

Event insurance policies tend to be very affordable, and you’ll pay for the policy in full when you purchase it. Several factors will impact your rates, including the type and duration of your event, the venue location and its cost, the number of attendees, and whether you need liquor liability coverage.