Planning a wedding, carnival, birthday bash or other large special event? Special event insurance may seem like one more expense that can be eliminated to stay on budget. However, it’s actually one of the most important purchases in order to protect the rest of the purchases you’ve already made. It provides both property and bodily injury liability protection, and other financial losses you may incurred.
Think about what goes into planning a large event. You spend a lot of time and money coordinating food, drinks, other vendors, music, tables and chairs, a venue and possibly even ticket sales. You may have to pay a non-fundable deposit in order to book the venue and vendors. So if something occurs that forces you to postpone or cancel the event, you could face a significant loss. Your policy may include coverage for:
– Damage to the venue, whether intentional or accidental
– Liability for guests’ safety
– Liability for guests’ vehicles, particularly if there’s valet parking
The details of a special event insurance policy can be custom tailored to meet the unique needs of your event, both in terms of coverage options and coverage limits.