Special events can create the perfect storm for the unexpected, which is why you should ensure your investment is protected. Special event insurance is a tool you can use to safeguard your occasion—whether it’s a wedding, retreat, festival, or something else.
The Choice Insurance team has been helping our clients protect their once-in-a-lifetime and recurring special events for years. We believe you should invest in tailored special event insurance for five important reasons.
#1: Event Cancellation Protection
The best planning cannot stop unforeseen cancellations. Inclement weather, scheduling challenges, and other issues beyond your control can cancel your event with little to no warning. Unwanted event cancellations can lead to a slew of undesirable consequences that hit your wallet, such as a hired performer’s or booked venue’s cancelation fees.
Special event insurance can help you recover the money spent on an event that couldn’t proceed.
#2: Property & Damage Safeguards
Venue types are broad. Sometimes, you’re renting a commercial space. Other times, you’re hosting at a private residence. Regardless of the size of the venue or guest list, the chance of property damage is high. The venue could be damaged by moving event-specific furnishing or by things that happen during the party or event. Everything from nicks and dings to a fire can leave you holding the bill.
Special event insurance can help ensure the cost of unexpected property and damage doesn’t leave you in financial ruin.
#3: Accident Coverage
The reality is that “accident” is a vague term, especially in the context of an event. Accidents can include property and damage (discussed above), bodily injury, or something else. An accident is an accident because it was unintended and unanticipated.
Special event insurance can cover general and specific accidents. It can be tailored to provide peace of mind and protection from the unexpected, unintended, and unanticipated. It really is essential for organizer and vendor safety and should be carried by all potentially liable parties to safeguard them and those attending the event.
#4: Liquor Liability Claims
Weddings and festivals are just a few events where alcohol is often served. While serving alcohol can please guests, it also increases liability for the event organizer. For example, if the property at the venue is damaged due to an alcohol-induced incident or a guest overindulges, falls, and breaks their arm, you’re covered.
Special event insurance provides liquor liability coverage to help mitigate medical bills or resulting legal fees if someone decides to sue.
#5: Tailored Insurance Coverage
A special event insurance policy is meant to be tailored to you and your event. It’s both an investment and protection for the event you’ve been planning tirelessly, regardless of whether it’s a once-in-a-lifetime affair or something you plan to host again. It can safeguard against financial crises, but more importantly, it can give you the peace of mind to focus on what matters most—pulling off an unforgettable special event.
Don’t get caught uninsured. Talk to our Commercial Lines team today to tailor a special event insurance policy to your unique needs. Contact us online or call us directly at 757-464-4443.