During the holidays there's a high probability that you'll be hosting a gathering for your employees. If you're planning to host an event or party, it's important to think about what can go wrong and plan accordingly. As a business owner not in the event or restaurant space, you may not be aware of the risks that come with hosting a large party and as such, losses are more likely to occur. This is where Special Event Insurance, sometimes known simply as Holiday Party Insurance, comes in.

What is Special Event Liability Insurance?

Depending on your needs, special event insurance can protect against accidents, bodily injury, property damage, or cancellation of your event. As the host of an event, you are responsible for what happens at your party. If someone causes damage or injury to someone else, you could be held liable. You should also ensure that your guests are in a safe environment.

The first thing you should do is call your agent to inform them that you will be hosting an event. They will help walk you through any potential risks and areas of protection.

What can special event liability insurance cover?

Depending on your event, event coverages can include:

Event Liability Coverage

As a host, many venues require event liability insurance because general liability policies exclude coverage for loss to property while the property is in an event organizer's care. You can get event liability coverage for liability claims that involve accidental property damage or bodily injury, as well as medical bills up to a specified amount. Adding this is a good idea, because accidents happen and it's best to be prepared for them.

Liquor Liability Coverage

Getting liquor liability insurance for any event that serves or sells alcoholic beverages is a good way to protect your business from alcohol-related incidents.

Parties during the holidays can result in more inebriated guests. In fact, the party is not over until the last guest leaves. The goal should be to ensure that everyone has a good time while also taking care to make sure that nobody causes an accident.

Event Cancellation Coverage

Event cancellation insurance coverage can help you get reimbursed for non-refundable expenses if your scheduled party needs to be canceled because of weather, sickness, or a problem with the venue.

What is the benefit of special event liability coverage?

A special event liability policy gives you peace of mind for the time you’ve invested in planning and ensures you protect your people and investment. Your business can be covered with affordable short-term options like a one-day event insurance policy that can be implemented quickly and even added same-day in most cases.  

Reach out to your agent at Hotchkiss Insurance to get protected. GET STARTED