Summer is just around the corner and, to most of us, this means late nights and busy calendars. If you’re throwing a business or personal event, your mind is likely consumed with thoughts of catering, invitations, vendors, entertainment and the like.
One aspect of event planning that may not be on your radar is special event insurance. It turns out insuring your special event is one of the smartest ways to give your event the security and peace of mind that will protect you from unforeseen costs or damages in the event of an accident.
What’s the worst that could happen?
Events go on every day without any disruption or need for claims being filed. What is the worst situation that could happen? Well a lot, actually.
Events bring people together for a variety of reasons, often these events involve machinery, vehicles, temporary structures or even small elements that can break or malfunction resulting in damage or injury.
- 2009 – A woman cut her lip on a drinking glass at a winter antique show.
Claim: $10,000.00 for medical damages.
- 2002 – A man tripped over an electrical cord (taped to the floor) at a music festival. He broke his patella (knee).
Claim: $2,500.00 for medical damages.
- 2012 – A fight broke out at a concert, both of the individuals involved sustained injuries as did a handful of bystanders.
Claim: $100,000.00 for medical expenses and lack of adequate security.
- 2011 – An intoxicated woman left a fundraising event in a motor vehicle and injured another person in an automobile accident.
Claim: $25,000.00 for medical expenses and liquor liability
- 2008 – A speaker falls at a concert and injures a male concertgoer.
Claim: $115,000.00 for medical expenses
As with any type of insurance, the probability of something like the above happening is slim. Accidents, however, do happen and that is why special event insurance is such an important part of planning an event.
What does special event insurance look like?
Special event insurance takes on different forms depending on the type of event that you are hosting and the complimentary coverage needed. Special event coordinators will, at the bare minimum, opt for a general liability insurance. Which:
- Covers premises operation, products and complete operations connected to the special event
- Provides a minimum of $100,000.00 in Fire Legal Liability
- Also provides personal and advertising liability
Unique events (like inland marine events or golf events) also have their own types of special event insurances which cover unforeseen liabilities and expenses. Additionally if liquor is being served, a liquor liability insurance is recommended and may be mandated by law.
What events need special event insurance?
Special event insurance is recommended for most special events. Here is a list of the categories covered by special event insurance, along with some examples of each category:
- Social Life Events
- Bar Mitzvahs
- Scavenger Hunts
- Graduation Ceremonies
- Group Motorcycle Rides
- Sports Events & Competitions
- Kick Ball Games
- Archery Tournaments
- Dance Teams
- Roller Derbies
- Camping Trips
- Musical Events and other Entertainments
- Award Presentations
- Comedy Shows
- Fashion Shows
- Theatrical Stage Performances
- Concerts (Except Heavy Metal, Punk, Rap or Hip Hop)
- Film Showings
- Trade Shows
- Antique Shows
- Craft Fairs
- Boat Shows
- Dog and Cat Shows
- Job/Career Fairs
- Sidewalk Sales
- Voter Registration
- Educational Events
- Academic Camp
- College Fairs
- Field Trips
- Speaking Engagements
- Fairs and Festivals.
- Art Festivals/Shows
- Corn Mazes
- Hay Rides
- Horse Show
- Reenactment Events
- Fireworks Shows
- Exhibitor/Vendor Booth
- County and State Fairs
- Livestock Auctions
If you’re throwing any kind of event where people will be gathered, special event insurance is not only recommended, but could save you money in the long-run. For a better idea about what events are covered and not, you can visit the PHLY website here.
To navigate the multi-faceted world of special event insurance and discuss your unique event/type of insurance needed, contact an independent special events insurance agent at abel today!