What is special event insurance?
Special event insurance is a short-term policy that offers coverages for events lasting 10 days or less. It is designed to protect event organizers from financial loss due to unplanned incidents occurring at the event. Special event coverages are designed to help protect individuals and businesses from costs resulting from property damage, injuries, spectators, products and completed services, and other event-related hazards.
What coverages does a special event insurance policy include?
Every special event insurance policy is unique to the individual event, but common coverages to consider include:
- General Liability: Protects against property damage and injury claims
- Property Damage Liability: This coverage protects individuals or businesses in the event they cause damage to someone else’s property
- It typically covers the cost of repairs or replacement for damaged property, as well as related expenses such as legal fees
- Liquor Liability: If your event includes alcohol, it may be eligible for Liquor Liability coverage, which protects you from alcohol-related incidents associated with the event
- Inland Marine: Your event may be eligible for Inland Marine coverage, which could include business personal property and trailers used in special events
- It can provide protection while exhibiting or displaying away from a premise you own, lease, or operate, or while in transit to and from an exhibit or display
- Special Event Awards: Provides cash prize payout for contests such as hole-in-ones, basketball free-throws and half-court shots, and football kicking contests
Why do I need a special event insurance policy?
Depending on the type of event and the terms of your existing insurance policy, a special event could be covered by your current insurance policy. Considerations include the size of the event, number of expected attendees, the location, and other details. It’s best to talk with your insurance agent about the event you’re planning and determine if you need additional coverages.
You can learn more about the types of special events we insure and the coverages you may need on our events insurance page.
