Why You Need Special Event Insurance
Hosting an event can be very tricky! Between figuring out the guest list, the venue, the whole logistics package, and making sure everything is spic and span and that no death traps are lying out in the wait, it can be easy to get lost in a sea of details.
Furthermore, even experienced hosts who have done the job a thousand times before are liable to slip up and make a mistake. Therefore, one of the worst errors you could make is to forget about buying insurance for your event.
“Insurance?” we hear you ask. “For a social event?” Exactly so! And we’re going to tell you why as well.
See here if you are interested in insurance brokers for special events instead!
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Why Do I Need Event Insurance?
Because nothing ever goes to plan – and if it does, then you are lucky. Hosting an event is a difficult venture that involves a lot of planning, thinking, and consideration. As a result, your average host is driven half-mad by the time the event is ready to start.
There are so many things that can go wrong. After all, fate isn’t the most pleasant of friends, as it tends to be fickle, untrustworthy, and outright obnoxious.
Let’s say that you’ve done everything within your power to ensure the venue is perfectly safe. Everything, from top to bottom, is injury-proof; and to make sure of it, you’ve also hired a handful of beefy security guards to at least try and catch whoever might slip and fall.
And that’s exactly what’s going to happen. You might have rounded off all sharp corners in the audience room, hid all loose cables, made sure the hallways are lit with neons for easy navigation – and then one of your guests is blinded by a camera flash, collapsing over his dear grandmother, and breaking several of their bones in the process.
The worst part about everything? You, the host, are legally responsible for what happened.
What that means in more tangible terms is that the guest can easily file a lawsuit against you. You can, of course, defend yourself, which is likely to save you a hefty fine or even jail time, but that is very costly and will probably leave a hole in your wallet.
Insurance, on the other hand? It can pay off the legal fees for you. If you’re not convinced, here are a couple more reasons you should consider buying event insurance.
Common Reasons to Buy Event Insurance: Premise or Equipment Damage
While you might not plan to grab a club and start destroying the venue you picked as if you’re a caveman, one of your guests, surprisingly, might have that notion. Depending on the nature of your event, it can be very easy for things to get out of hand.
Premise or equipment damage can happen at any time as well, whether accidental or intentional. The professionals that are typically present at venues occasionally manage to damage their equipment, which, irritatingly enough, leaves you liable.
The same would happen if you were holding a soiree in a repurposed museum featuring expensive marble sculptures that one of your guests angrily broke out of some reason or another.
Paying for those marble sculptures could financially ruin you. If only insurance could pay it off for you…
Public Liability
For those who are not legally knowledgeable, public liability is essentially an accidental injury. By US law, the host of an event is responsible for the safety of every participating guest. Therefore, if anything happens to one of your guests, you will be held “liable.”
Event Cancellation
Canceling your event at the last moment will lead to a huge loss of revenue. Fortunately for you, most insurance companies have devised “event cancellation insurance,” which can refund you some of your setup expenses.
Better Safe Than Sorry
You can always trust in chance and hope that nothing will happen to your next event. While we certainly hope your event goes perfectly, something bad will undoubtedly happen at some point or another.
Save yourself future disappointment and depression by purchasing an extra layer of protection against bad luck!
