Special events, such as weddings, are joyous occasions, but they are also significant financial investments. There is also a certain level of risk and uncertainty involved in hosting a large gathering—for example, a vendor might fall through, or a guest might get injured during the festivities, to name a few possibilities. If you want to make sure an issue like this doesn’t lead to overwhelming costs, we at Innovative Insurance Group encourage you to invest in special event insurance. In this article, we will go over some key information you need to know about this type of coverage.
- Liability Coverage – Most special event insurance policies include liability coverage. In the event that someone does get hurt while attending your celebration, this coverage will kick in to help pay for their medical care as well as any legal costs should they decide to sue. Note that this coverage does not apply in all situations, as many policies exclude high-risk activities such as fireworks or bounce houses.
- Alcohol-Related Liability Coverage – If you plan to serve alcohol at your special event, then you may need to purchase additional alcohol-related liability coverage as part of your special event insurance package. If one of your guests becomes intoxicated and causes harm to people (including themselves) or property, then this coverage will help pay for the costs of medical treatment, repairs, and legal costs.
- Coverage for Venue and Vendors – Special event insurance also helps protect the venue and the vendors involved in your event, such as caterers and entertainers. Our team can help you find the ideal special event insurance policy for your needs, giving you a safety net you can use in case something goes wrong on your big day.