What Insurance Coverage is Needed for an Event?

What Insurance Coverage is Needed for an Event?In a few days, many Americans will be tuning in to one of the biggest award shows of the year. With all the glitz and glamour, it’s easy to overlook the important legwork that goes into planning a successful event. Insurance is one of the most important components for ensuring your occasion is a hit. Whether your event is a week–long conference, an honorary banquet or a night of fun, insurance can help event planners protect themselves from the unexpected that comes along with the planning.

If you’re planning an event, here are a few insurance coverages to consider:

  • General Liability
    General liability coverage offers protection to the event host/policy holder from losses due to bodily injury or property damage. If you’re renting a venue, be sure to find out if you’ll need any kind of special insurance or coverage. Most event venues require general liability policies, usually $1 million to $2 million in liability coverage, according to Bankrate.com. The venue may also ask to be named an insured on the policy.
  • Cancellation Insurance
    If your event is cancelled or postponed, cancellation insurance can help protect your bottom line. Cancellation insurance coverages available include: earthquake, flood, fire, power failure or damage to the venue. This policy typically covers financial loss incurred from out-of-pocket expenses before the cancellation and contractual guarantees.

Event planning requires a lot of time, effort and planning to guarantee that guests have a good time. Ensure your next event is a success with the right combination of insurance coverage. To learn more or contact a property and casualty insurance agent, visit: AssuredPartners NL Property & Casualty.

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