With Thanksgiving only just over a week away, the 2018 holiday season is truly upon us. For many, that means it’s time to start thinking about upcoming vacations, or getting a start on holiday cards or gift-shopping. For others, that means holiday parties. If you’re planning on holding a party, whether it’s a large-scale event or a small get-together of friends and neighbors, Special Events Insurance can truly make or break the day in so many ways.
What Exactly is Special Events Insurance?
This insurance will cover and protect planners in a number of ways and provide a general liability for certain types of events. Planners will be able to purchase extra coverage that will protect them from things such as event cancellation and liquor liability, which are not covered by standard general liability or homeowners policies.
What if the caterer does not show up, the venue becomes unavailable, property damage occurs, or critical attributes become destroyed? These are all things that have and could easily happen to events that may cause the need to postpone or even cancel, emphasizing the importance of a Special Events insurance policy.
Why it’s Needed
Special Events Insurance can be purchased for a wide variety of events of varying duration, from a one day-party to a multiple-day event. This coverage is an essential safeguard for any planners who are trying to keep their clients and themselves out of expensive legal litigation.
Sometimes the event is taking place at a home, which can present a specific set of concerns. For example, perhaps someone becomes injured in the home during the event. Special Events insurance can cover the risk, avoiding a claim on your homeowners coverage. If liquor will be served, it would be wise to add host liquor liability coverage to the special events insurance. This is necessary for venues where the bartenders will not be covered, or if you are directly employing any bartenders for the event. This type of insurance will cover any issue that arises from alcohol-related issues. Special Events insurance reduces the chances that you will be held liable for damages or injuries that are caused by an event that you are hosting.
Cancellation insurance is another popular type of event insurance that will protect you in the instance of an unforeseen situation, such as unruly weather conditions, an unusable venue or anything else that will cause the cancellation of your event. This will help you cover any of the costs that are related to repaying deposits that have been made.
Speak to an insurance agent to help you determine what actually needs to be covered. No matter if you are having an interactive or passive experience, outdoor or indoor event, black-tie benefit or cocktail party, there are aspects of having an event that are simply outside of your control, and you don’t want your festive occasion to turn into more costs and stress for you.
About SB One Insurance Agency
At SB One Insurance Agency, we have served the businesses and residents of New Jersey, New York and Pennsylvania for more than 60 years. We are a wholly owned subsidiary of SB One Bank, the region’s premier banking institution, and we are prepared to offer you personal, business, employee benefit, and risk management solutions. To learn more about our coverage options, contact our specialists today at (888) 990-0526.