There are plenty of reasons worth celebrating: weddings, graduations, birthdays and more. However, each celebration poses a set of new and unique risks that need to be addressed.
Special events coverage is a form of general liability insurance that is purchased strictly for the use of temporary events, usually lasting for a day or some other short-period of time. Events covered by this type of insurance include fundraisers, weddings, graduation and birthday parties, parades, fairs, festivals, etc.
In order to write a special events insurance policy, your independent agent needs to know some of the underlying details of the event, such as:
- When is the start and end date or the event?
- Should set-up and take-down time be included in the policy term?
- What is the estimated number of attendees?
- Will there be entertainment such as a band, DJ, inflatables, etc.?
- Will liquor be served and/or sold?
- If the event is outside, does a rain date need to be scheduled?
Coverage can protect the insured from expenses relating to slip and fall cases, property damage and other claims. Always refer to the terms and exclusions of the policy for full coverage details. Additional endorsements can be purchased for added protection, such as a liquor liability policy.
Remember that special events policies are typically paid for in advanced and in full. Depending on the location and contract of terms for the venue, you may be required to purchase coverage and produce proof of insurance prior to the event.
For more information, contact McGrath Insurance Group at 800-342-3859 or visit our website at www.mcgrathinsurance.com.
*This article is written for informational purposes only and should not be construed as providing legal advice.