Special Event Liability
This is the most common kind of Special Event insurance and if you’ve simply been told you need, “Special Event Insurance”, then this is probably what you need.
All commercial venues have their own insurance – otherwise they wouldn’t be allowed to operate legally – but what they have now come to understand, is that when there are damages at an event, their annual premium can increase, which can have an adverse effect on their overhead, and cause them to have to raise their rates to those who want to rent their venue for an event.
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The concept of a, “disposable” Insurance Policy was devised, to cover the Insured from the costs of paying for damages to the Venue, or to their Attendees. It is standard practice for the Insured on these policies to name the Venue as Additional Insured, so that the Venue can be compensated for any damages caused by the Insured. The venue may tell you that they required that you name them on the policy. Do not be confused by this does and name them as the insured. You are the insure and they are the additional insured.
We are talking about Liability coverage after-all, so it’s important to keep in mind that, like your Automobile Liability coverage – this Liability coverage (and ANY Liability coverage for that matter) will only cover damages caused by the negligence of the named Insured – so it’s important to not only require these independent entities to have their own Liability coverage in place – but they are also required to name the Organizer as Additional Insured on their respective policies, for the duration of the event.
Below are some examples of who can qualify for and obtain Special Event Liability Coverage.
Special Event Liability insurance is written specifically for:
- Organizers: If you are holding an event at a venue/facility that you do not own, it’s important to have this coverage, and to name the Venue (Or the entity that owns the Venue) as Additional Insured.
Note: Organizer Policies will specifically exclude damages caused by Vendors, Exhibitors, Performers – and anyone else who is operating independently at the event, such as a Security Firm, a Stage Company, or a Caterer.
- Vendors/Exhibitors: If you are going to have a booth or a table at an event being held by someone else, then you can get this kind of coverage and name the Organizer and/or the Venue, as Additional Insured. It will cover you for your exposures within your designated area, at the event.
- Performers: If you are being brought in by an Organizer, to Perform at event that you are not organizing, we can offer you a Performer Liability Policy that is tailored to cover you for any damages you might cause to the Venue or an Attendee.
Helpful tips when submitting for Special Event Liability:
- The name on the Policy should match the name on the contract with the Venue.
- We must have separate addresses for the Insured and the Venue, and we cannot use PO Boxes.