What is Event Insurance?
Event insurance is also be referred to as CGL, Commercial General Liability or Spectator Liability. This type of coverage is an insurance policy providing protection for an event holder or vendor. This coverage might include defense against lawsuits or paying damages for bodily injury or property damage to third parties.
Use a qualified agent to ensure your event insurance meets the requirements of the venue, and provides enough coverage for losses in the event of a claim.
If a venue requires host liquor liability coverage this can be included if there is no transfer of money for alcohol. This policy can also give protection to the venue and event sponsors if they are included as Additional Insured on the policy. Event insurance coverage can cover situations like a slip and fall or accidental property damage to the venue.
Note: There are exclusions that apply to the coverage types listed. Below are some examples of general policy limits.
Event Insurance Policy Limits
Generally, standard event insurance coverage includes:
General Liability Aggregate $2,000,000
GL Products/Completed Operations $1,000,000
GL Personal/Advertising Injury $1,000,000
Each Occurrence $1,000,000
Damages to Premises Rented to You $300,000
Medical Expenses $5,000
Direct Event Insurance can provide coverage for large events with complex liability requirements, or venues requiring higher coverage limits.
$10,000,000 per occurrence / $10,000,000 General Liability Aggregate.
Note: Additional coverage’s such as liquor liability, rented equipment coverage, and non-owned hired auto coverage can be added to the base policy for an additional charge.
Each event insurance policy is unique and the coverages listed above are provided as examples.