Do I Need Insurance Coverage for My Summer Wedding or Event?June 23rd, 2023
It is common for people to plan exciting occasions like weddings, barbecue parties, and artisan markets in the summer, and it’s not hard to see why. The weather is great and the energy is unmatched. However, people often overlook the downsides and potential risks of summer events. For example, while planning a summer market, you may have to pay upfront for the space, decorators, and caterers. However, summer storms could also cause you to call off the event and it’s likely that you’ll still be responsible for all or the majority of the financial consequences.
Fortunately, special event insurance can assist in safeguarding your investment in your event in case anything unplanned casts a shadow over your big day. So, what is it? We will take you through the risks involved when planning an event, why you need special event insurance, and what it covers.
Summer Events and Risks Involved
While it may seem unpleasant to consider potential problems with your event, this is one of the most crucial things you must do while organizing one. And with the summer now underway, it is crucial to know the kind of risks that come with large-scale events. Some of them include:
- Electrical Installation Safety: Most summer events involve using various electrical equipment, from music setups and electrical grills to lighting for night parties. Therefore, you must evaluate the electrical equipment you’re hauling to the event venue and consider the risks they pose.
- Crowd Control: Large crowds can sometimes be dangerous, especially when no order exists. As such, you need to consider how your event manages the flow of people, how people enter and exit the venue, whether the venue is accessible, and whether there are risks associated with nearby roads.
- Medical Emergencies: Events frequently feature injuries and mishaps because there are so many people congregating in one area, there may be alcohol present, and depending on the event, there may even be some extreme sports. It soon becomes clear how the odds increase.
- The Weather: The weather is unpredictable in any event, and there is no way of controlling it. However, you may still evaluate the hazards of the event in various weather conditions and be ready for them, preventing you from being disoriented.
- Substandard Service: If you are serving food at your event, you may risk a guest developing an allergic reaction from poor labeling of the buffet or getting their order wrong. In many cases, they may sue you for damages.
What Is Special Event Insurance, and What Does It Cover?
Special event insurance is a package of policies that offers financial protection in case your event is canceled or postponed. It also covers expenses for accidents besides natural disasters. If you inadvertently damage the venue’s property or someone is wounded during your event, you could find yourself in the heart of a lawsuit or incur fines. In such circumstances, you will require special event insurance, which will provide two types of coverage:
- Liability Insurance: It aids in shielding you from monetary loss if you, your guest, or your hire are held accountable for an incident at your event that injures someone or damages property. You might even be protected if one of your visitors causes trouble. Nowadays, many venues demand that you carry liability insurance before you are allowed to make a reservation there.
- Cancellation Coverage: It compensates you for any lost deposits and other costs when unavoidable circumstances force you to reschedule or cancel your event. It also covers special presents, accessories (such as lost wedding rings), and corrupted image and video files.
Special event insurance comes quite handy during the summer and covers events such as:
- Weddings and engagement parties
- Non-profit activities
- Retirement celebrations
- Anniversaries and birthday celebrations
- Business conferences
Not all events are covered by special event insurance, making it important to speak with your insurance broker about your event specifics.
Why You Need Special Event Insurance
Even the slightest hassle can ruin the big day, so even if special event insurance seems unneeded to some, it’s important to get it. Some of the reasons you should get special event insurance include:
It Covers Any Property Damage
Property damage is subject to a cap under special event insurance. Venue owners could hold you responsible if you rent out a location, host hundreds of people, and a fire breaks out, causing several thousand dollars worth of property loss to the space, the furnishings, and the personal belongings of your guests.
However, depending on the cap, special event insurance may be able to pay for all damages. You can request a higher limit if you expect many people at your summer event. But do this well before the event date to avoid any frictions that may arise and cause a hindrance to your event.
It Covers Any Liquor-Related Incidences
Liquor liability coverage is included in certain special event insurance policies. However, it is distinct from the kind of liquor liability insurance that bars possess. If you serve alcoholic beverages at your summer special event, a guest may consume too much, harm themselves or others, or even worse, cause a car accident while driving home.
In either scenario, you could be held liable for the harm caused by providing access to excessive alcohol. Your special event insurance will cover any problems with alcohol at your event, including property damage and DUI fines.
Limits Your Financial Impact
The good thing with special event insurance is that you can add a care, custody, and coverage liability. In this case, if you accidentally damage a venue’s property, like a Persian carpet, and the owner sues you, your insurance will cover the losses incurred to the venue owner and exempt you from paying out of pocket.
It Allows Food Liability Add-Ons
Food liability add-ons can be useful if you are hosting an event where you will be selling or serving food to your attendees. If the meal you serve your guests compromises their health, you’ll need to ensure you are fully covered.
For instance, if a guest at your event contracts food poisoning, they might blame you for something. In such circumstances, you can include food liability coverage in your special event insurance to cover any harm and damages that arise from your event’s food.
Protect Your Summer Event Today
Unforeseen problems can happen at any time. Therefore, it is a good idea to secure yourself early. And even though you are anticipating pleasant summer vibes and don’t want to consider anything terrible when planning a momentous day, it’s comforting to know that you are protected from the unforeseen.
For more information on how to protect your summer event, contact our team of experts at Duliban Insurance Brokers today!
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