Event Insurance
Hosting events comes with big benefits — and big potential risks. From conferences to concerts, races to receptions, you want attendees to have an amazing experience while protecting your organization. Event Insurance from eSpecialty Insurance provides coverage so you can focus on flawless execution.
eSpecialty Insurance has partnered with EventSured, a leading underwriter of Event Insurance, to quickly get you covered. Click on Get Started to get your quote. If you are unsure about what coverage you need, or if you have a complicated or unusual situation, feel free to contact us for assistance!
Who Needs it?
Any individual or group hosting an event needs coverage. This includes:
· Businesses - Product launches, conferences, parties
· Nonprofits - Fundraisers, fun runs, galas
· Planners - Weddings, reunions, festivals
· Venues - Conventions, concerts, tournaments
· Individuals - Even personal celebrations
If you're organizing any gathering, liability insurance should be part of your planning. Most venues require Event Insurance, typically found in the contract you sign for the event.
Why Does Your Event Need Coverage?
Accidents happen, and crowds multiply the risks. Event Liability Insurance protects you if an attendee gets injured, causes damage, or claims negligence.
Common incidents include:
- Guest injuries
- Property damage to the venue or other property
- Alcohol overserving or auto accidents after drinking
- Event cancellation from weather, accidents, or other unexpected circumstances
Lawsuits, legal fees, and other costs can be financially devastating without coverage. Insurance gives you peace of mind.
What's Covered?
Coverage will vary based on the type of event and the insurance purchased. And what you purchase will also vary on your expectations and budget.
Some of the coverages to consider include:
- General liability for injury and property damage
- Liquor liability if alcohol will be served
- Cancellation coverage for weather, accidents, & unexpected circumstances
- Property loss for rented gear, decorations, fixtures
- Workers compensation for staff and volunteers
- Weather insurance for unexpected variation in weather conditions
What Doesn't Event Insurance Cover?
While event policies are broad, exclusions apply to unforeseeable or extreme situations like:
- Criminal activity or illegal substances
- Natural disasters or disease outbreaks
- Permit or planning oversights
- Highly predictable losses
Liquor Liability Considerations?
Serving alcohol creates additional liability risks. Liquor Liability Insurance helps cover costs from alcohol-related incidents like:
- Injuries, assaults, or accidents caused by intoxicated guests
- Damage to the venue or property after excessive drinking
- Legal claims, medical bills, or lawsuits related to overserving
Regular liability insurance often excludes alcohol risks, while iquor liability insurance provides specialized protection when serving liquor. We offer customizable liquor liability coverage based on your specific event and state regulations.
What Does It Cost?
Rates vary based on:
- Event size, type, activities
- Event duration
- Location
- Attendees
- Alcohol serving
- Coverage and limits
The cost for a short event, say a few hours, with no alcohol and a small number of attendees can be very inexpensive, as little as a few hundred dollars. Larger, more complex events, including additional coverages, are more expensive.
Additional Considerations & Special Situations
When planning an event and purchasing insurance, keep these tips in mind:
- Time: Please provide adequate time to obtain insurance. Event Insurance can often be put in place rapidly, including within minutes. There are also event situations with additional complexities that can take much longer. No one likes the last minute stress!
- Requirements: Review insurance requirements in venue contracts, and also in vendor contracts, early in your planning. Venues will typically require liability insurance and stipulate minimum acceptable terms. You should have a clear idea what insurance is required and how much it will cost prior to signing a contract.
- Your Vendors: You might also be at risk from vendors you hire. For example, ask for proof of insurance (certificate of insurance or COI) if you are using a transportation service you plan to use for transporting guests. And ask for vendors to list you as an additional insured on their policies.
- Multiple Events: If you are hosting multiple events, you should know that event insurance is available on a longer term basis. In some cases, this may be less expensive for those organizations or individuals who regularly host events.
- Existing Coverage: If your organization has a General Liability (GL) or Business Office Package (BOP) policy you may already have some coverage. GL & BOP policies are not intended to cover a full range of events and may have exclusions that unexpectedly come into play.
- Cancellation: Events do get cancelled. Consider event cancellation coverage to protect larger expenditures like venue deposits and pre-paid vendor costs.
- Exclusions: Review policy limitations, exclusions, and deductibles so there are no surprises if there is an incident.
Event Insurance policies are not all the same. Some policies are more comprehensive than others, and some policies provide broader coverage in specific areas. In addition, each insured may have different exposures and coverage needs. We encourage you to read your policy and consult with eSpecialty Insurance on your needs.