When you first embark on planning your wedding or event, you may have a vision in your mind about what it will look like, the flow of the crowd, the décor, entertainment, and food.
You will probably envision the perfect event, planning everything to look, taste, smell, and feel perfect.
However, there are always things that can go wrong no matter how well you plan, and that’s why it’s important to have event insurance for your upcoming event.
What could go wrong?
Even when we plan well and think that we’ve thought of everything, there can always be that one thing that you didn’t count on that can happen that can either make or break your event, and by that, I mean both financially, and it can have a profound effect on the event itself.
An outdoor wedding in the fall? Sounds enchanting until the weather report says it will be over 100°, and you are expecting over 100 people. All is well until someone gets dizzy from the heat and trips and falls, or even worse, passes out from the heat and injures themselves.
An indoor wedding in the summer is an excellent idea because air conditioning can make all the difference. Then the power company decides to turn off the power at the last minute due to unsafe fire conditions. If your venue has a big enough generator to keep things going throughout your event, that’s great. But if not and you have to cancel, what will you do?
If a storm system comes through and roads are closed, and the venue is inaccessible to you and your guests, what do you do?
Figuring out how to handle each situation is unique, but having event insurance for every event will ensure that you’ll be covered no matter the situation. You may have to reschedule your wedding or event, but at least you won’t be out your hard-earned money.
No matter whether it’s at your favorite venue in town or your backyard, having event insurance is essential and usually required. Ensuring you understand what kind of insurance is necessary to purchase for your event and understanding your options is equally as important. Some companies specialize in event insurance, and you can certainly get in touch with one of them to find out their rates and services. Most are relatively easy to work with, and you can find rates and coverage information on their website.
If you are renting a venue, when you sign the agreement, they will tell you exactly the coverage required to rent the facility. If you’re having an event at a residence, you will still want to be covered for anything that could go wrong. You would not want to lose your house if something happens, and you’re held liable!
Types of Insurance
Many types of insurance are available to you for an event, and they are all a little different in regards to cost and types of coverage that are offered. It depends on the type of event you’re throwing as to the coverage you’ll need to purchase.
General Liability Insurance
Most venues will require only this type of insurance at the rate of $1,000,000 (sometimes $2,000,000) coverage, and you will include their business name as the additional named insured.
There are many types of insurance coverage out there for you to research and see which ones are necessary for your event.
Third-Party Damage Insurance
This type of insurance will cover any damages that may happen to the venue during your event. Things like broken dishware, chairs, stains, and spills on furniture or carpets, and the list goes on. This way, if something happens, your insurance can cover the damages instead of the venue taking it out of your security deposit.
Waiver of Subrogation
Some vendors will require a Waiver of Subrogation. This form of insurance protects the vendor from having to give money back to the insurance company if something happens.
Liquor Liability Insurance
This type of insurance covers anything related to liquor at your event, including your bartenders.
If you have alcohol at your event, this type of insurance is required. If you’re renting from a venue with a liquor license, you should be able to provide just the General Liability Insurance, and their insurance will cover the rest.
This type of insurance covers any deposits or monies you’ve spent on your event that would be affected by an unforeseeable cancellation of the event.
Hired Auto Liability Insurance
This type of insurance covers any vehicles that you will need to rent for your event. This type of coverage usually includes any auto-related damage or injury that may happen to the driver or property damage caused by the vehicle.
Worker’s Compensation Insurance
This type of insurance covers employees that you hire to work your event. Servers, bussers, bartenders, and even your event planner, if you hire one. This insurance covers injuries that happen on the job and will help offset the sometimes very high medical treatment costs due to the injury.
Special Event Coverage
This is a little different than the other types of coverage. This type of insurance is known as offering blanket-coverage for many types of claims that could happen at your event. It is also referred to as one-day coverage and is reserved for events like weddings and banquets. This type of coverage often includes General Liability and Liquor Liability Insurance as well.
This type of insurance isn’t necessary for most weddings and smaller events. But if you’re investing in big events and festivals, this type of insurance is highly recommended.
This insurance would cover your expenses if an act of terrorism were to occur and affect your event. Though not a standard yet, this type of insurance is becoming more popular.
Where Can I Find Insurance for My Event?
Many companies offer event insurance for your wedding or event. Finding the right solution will take a little research on your part. There are popular companies like TheEventHelper.com, SpecialEventInsurance.com, and Eventsured.com. However, there is another route you can take and save yourself a little money at the same time.
If you own your home (or perhaps your parents own a home?) you can call your homeowner’s insurance broker and ask them if your policy offers one-day insurance. Some policies will allow up to two or three per year at no charge. Others don’t offer that coverage at all, but it’s a good thing to check into because it can save you up to $200 or more!
The last thing you want at your wedding or special event is to have someone get injured, have something catastrophic happen, or cancel the event altogether due to unforeseen circumstances. But if that happens, having the right insurance for your event will give you the peace of mind that IF something happens, you and your future are covered.
Amanda has over 30 years’ experience in promotions, marketing, event production, operations, and fundraising in both the entertainment and corporate markets. She began producing events at the young age of 16 at a local community radio station. A few years later, Amanda moved to Palo Alto to work at an Apple software retail company. She worked for several software startup companies, including Wollongong, Attachmate, and RadMedia, managing their trade show events across the country. In 1993, she moved back to Nevada County, resumed managing events for her local radio station, and produced private events and weddings as an independent contractor.
As an independent contractor, she has broadened her reach and experience and has participated in events with organizations such as Vanern Enterprises. There, she was in registration for a global congress in Montreal, Canada, and Caspian Agency out of Los Angeles, where she was on the team that orchestrated Al Gore’s worldwide VIP movie premiere for An Inconvenient Sequel, Truth to Power. She took a position with Music in the Mountains, a classical music production company. She managed both their Production and Operations departments for almost two years before joining Foothills Events Center as the Venue Assistant Manager in 2019.
Amanda assists with all aspects of the Foothills Event Center’s concerts, parties, celebrations, fundraisers, weddings, and other events. She observes our events as they happen, to ensure the clients and event attendees have a seamless event.