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What Is event insurance?
Hosting an event in Vermont presents a multitude of risks, as there’s a lot involved with any event and this means a lot could go wrong. For risks where property is damaged or someone is injured, there may be event insurance.
Event insurance is specialized short-term coverage for public and private festivities. Policies may cover events lasting anywhere from a single day to several weeks.
Who in Vermont needs an event policy?
Most Vermont organizations that are planning an event of any size should consider one of these insurance policies. Companies, nonprofit organizations, governments and even individuals might purchase a policy.
Moreover, policies are available for a wide variety of events that companies or others might host:
- Festivals
- Grand openings
- Seminars
- Company parties
- Fundraisers
Individuals might need wedding insurance, which is a type of event policy, when hosting a wedding. They also might want event policies for large birthday, anniversary or graduation celebrations.
If there’s uncertainty as to the need for a policy for a specific event, organizations and individuals can speak with a specialized insurance agent. An agent who knows event policies well will be able to determine whether something would be covered under other insurance policies that are already in place, or if an event policy is needed.
What coverages do event policies offer?
Some of the most important protections that event policies are liability protections. Liability protections generally help with legal defense costs and settlements arising from covered lawsuits that other parties file. Another party might sue if they’re injured or have property damaged.
- General Liability Coverage: Might cover typical accidents occurring during setup, the event itself, or takedown.
- Product Liability Coverage: Might cover damage or harm resulting from products distributed at an event.
- Spectator Liability Coverage: Might cover injuries that attendees sustain while watching activities at an event.
- Liquor Liability Coverage: Might cover typical accidents, assaults and other incidents resulting from excessive alcohol consumption.
- Automobile Liability Coverage: Might cover cars, trucks or other vehicles used during an event.
- Medical Malpractice Coverage: Might cover medical care that’s rendered by event-hired paramedics, nurses or physicians.
Some events need additional liability protections because of the activities they put on. For example, aircraft liability coverage is probably required when putting on an air show. Animal liability coverage is probably needed if using live animals in an event.
An insurance agent who specializes in event policies can help hosts think through any unique risks their event is exposed to, and choose coverages based on the risk exposure.
How much does one day event insurance cost?
The premium for event policies often varies as insurers consider many data points, including how long an event lasts.
One day event insurance is among the most affordable policies, and can be downright cheap compared to the potential cost of a claim, because coverage is needed for such a short time. If an event is set up, put on, and taken down during one long day, this could be an inexpensive and effective coverage option.
Other factors that impact the cost of one day event insurance and multi day event insurance include the event’s location, planned activities, expected number of attendees, and other details such as chosen coverages and limits.
How can event hosts in Vermont get event insurance?
For assistance with insuring an event that’ll last anywhere from one day to several weeks, contact us at Palmer Insurance Agency. Our Vermont agents will work closely with you to find a one day event insurance policy or multi day event insurance policy that’ll protect your organization and your event well.
Get in Touch
Residents of Vermont can contact our representatives for assistance with their insurance needs. If you have questions or would like a quote, please contact us!
