Let’s face it, all event and wedding planners must consider some form of insurance. However well planned the event is there is always that risk of uncertainties that are beyond your control. Hoping that things won't go wrong is usually never enough. Discuss in detail with your insurance company on the nature of the event and the type of coverage that best protects you, your client and the guests.
Special Event Liability Insurance:
The Special Event Liability Insurance protects from liability related to certain accidents that might occur during an event that may result in bodily or property damage. This is the most common type of event insurance. Most of venues require their clients to have a minimum amount of event liability insurance. Some locations may also request you to add them as additional insured on their client’s event liability insurance coverage. Again, check with the insurance company to fill in any gaps in the policy depending on the nature of the event.
Liquor Liability Insurance:
There are two different types of policies here: Host Liquor Liability Insurance and Liquor Liability Insurance
Host Liquor Liability Insurance: Provides protection for businesses against bodily injury or property damage suits brought by parties injured as a result of an intoxicated guest who was served alcohol at an event you hosted. Host liquor liability is a coverage that is included under the commercial general liability policy for those businesses not 'in the business of' serving, manufacturing, distributing, selling, serving or providing alcohol.
Liquor Liability Insurance: Provides coverage for bodily injury or property damage for which you may become legally liable as a result of contributing to a person's intoxication. This coverage is provided by a separate policy and will only cover insured’s 'in the business of' manufacturing, selling, distributing, serving alcoholic beverages for charge or no charge if a license is required for the activity. This exposure is not covered under the general liability policy.
Event Cancellation Insurance:
There are a number of reasons that can lead to the postponement or cancellation of an event that are outside the planners control. Unforeseen circumstances such as severe weather conditions, local strikes, illness, damage to the venue, accidents or non-appearance of key individuals (especially in a wedding), are just a few of the myriad of possibilities. The Event Cancellation Insurance provides coverage for the loss of revenue or expenses due to the cancellation or postponement of an event. A Full Event Cancellation Policy may also cover loss of deposits been paid to vendors who fail to deliver the service, gifts, photography as well as any other additional expenses due to last minute replacement of vendors.
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