June 14, 2023
Agency
Why Planning a Large Event Should Include Insurance
Planning a large event—whether a birthday party, a wedding, a bar/bat mitzvah, a business dinner etc.—takes a lot of time and effort, not to mention an investment. So what happens if an unforeseen event, such as a severe storm or a family illness, forces you to postpone or cancel the event? Your bank account can take a heavy hit if the venue and vendor deposits are non-refundable.
No one wants to plan for disaster, but you can do so easily with special event liability insurance. This inexpensive form of insurance can reimburse you for deposits and cancellation fees if the event is called off, or a variety of liability risks during the course of a scheduled event. Let’s take a closer look at some of the features of a special event liability insurance policy. 
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Event liability: The event host may be held liable if an injury occurs or if a guest’s property is damaged during the course of the event. This policy can reimburse you for associated expenses, including medical payments. Many venues require you to purchase event liability coverage.
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Event cancellation and postponement: As noted above, this policy can reimburse the costs of cancellation or postponement. It can also cover the additional expenses of booking last-minute changes due to an unforeseen event such as vendor bankruptcy.
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Damage to premises: If you or any of your guests cause damage to the venue, this policy can cover the repair costs.
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Liquor liability: If an intoxicated guest injures another person or causes damage of any kind, this policy can cover the associated liability expenses.
Speak with an agent about the type of the event that you’re planning and the coverage you desire to protect your investment.