When putting together a special event, hosts have lots of details to attend to. Between guest lists, food tastings and venue selection, it’s easy to forget about insurance. Residents, organizations, and businesses in Massachusetts that host special events, however, should protect themselves by getting event insurance.
Event insurance policies are a specialized form of insurance that helps protect people, organizations, and businesses when they’re putting on events. Policies might be purchased for balls, fundraisers, parades, sports competitions, birthday parties, weddings, and just about any other type of event.
Any person or organization in Massachusetts that’s putting on an event should purchasing event liability insurance for the occasion. For, incidents small and large expose hosts to risks -- and few residents, nonprofits, or businesses could afford a major liability suit.
Because event liability insurance is used for many different types of events, there are lots of coverages that might be included in an event liability policy. Some of the more common coverages that hosts frequently select include:
In addition to these common coverages, there are also a number of highly specialized coverages available. A few examples of less common coverages that are useful in certain situations include:
These are just a few examples of the more specialized coverages that are available. Hosts should discuss the plans for their event with an insurance agent to find out if there are any other specialized coverages that they may benefit from.
Most event don’t include many property insurance coverages because hosts usually don’t need these protections. Any property or equipment that a host owns and intends to use for an event should already be insured against perils like fire and theft. Any property or equipment they rent should also already have property coverage that the rental company pays for (hosts will still probably want liability for rented or loaned property coverage in case rented property or equipment is damaged during their event).
If a host does need property insurance for some reason, they can often get it either as an optional protection or a stand-alone policy that supplements their event liability insurance policy.
Event policies vary in price, but most are affordable. Because event policies’ effective dates can be limited to the dates of an event, their premiums can be kept fairly low. Frequently, the price of a policy that only lasts for the duration of an event costs just a small fraction of the event’s total costs.
Residents, nonprofits and businesses in Massachusetts that are planning events can get quotes for event insurance by contacting an independent insurance agent in their area. There are independent agents serving the state and beyond who can help request quotes from insurers.