Why is Event Insurance necessary?
Everyone tries their best to plan for that “special” day. We look for rental venues, create invitations, hire caterers, and plan on how best to decorate that makes the rental space beautiful and appealing. We worry and fret over all the small details to make “that special day” perfect. What we don’t think of is the one in a million chance that someone could become injured or a guest accidentally causing property damage.
As an “Event Holder” you will be responsible for the conduct of your guests and for any damages occurring while the building is being rented. The Viola Community Center (VCC), cannot and shall not be responsible for any loss or injury incurred (including alcohol related) on the rental premises, therefore, we will require a “Certificate of Insurance”. The VCC realizes that planning an event can be expensive, but that “one in a million” occurrence can be devastating if it is not prepared for.
What Does One Day Insurance Cover?
Eligible events are typically private and may include functions such as:
One day insurance covers three main things:
Property Insurance: This portion of one day event insurance covers losses and/or damage caused to physical property such as vehicles, clothing, equipment, and other items which are in use during the time of the event.
Casualty Insurance: This portion of one day event insurance covers losses due to negligence which results in personal injury or death. These losses include medical expenses, income loss, and funeral losses if applicable.
Liability Insurance: Event liability coverage may help protect you if you're found responsible for property damage or an injury caused during your event, and many venues require you to have it. If the band you hired damages a wall with their gear, for example, this coverage may help pay for repairs. Some policies also cover incidents caused by your guests. So if someone gets a little wild on the dance floor and trips a waiter as he walks by, event liability coverage may help pay for medical expenses resulting from an injury. Again, make sure to read your policy to find out what kinds of situations it does and does not cover.
Contact Your Insurance Agent For A Quote
It is always a good idea to get inexpensive one day event insurance in case there is an injury or a piece of property is damaged. These issues can lead to unforeseen legal risks which can quickly add up to much more than what it would have cost to get the necessary insurance coverage. The premiums vary depending on a number of factors, including:
The number of attendees
The level of risk of an incident occurring
The total amount of coverage
The previous history of the promoter
If you’re planning to serve alcohol at your event you will need to add a provision for Liquor Liability at an extra charge. If you would like to avoid paying this fee, you must clearly notify attendees that it will be an alcohol-free event, and implement security measures to prevent the consumption and use of alcohol for the duration and on the premises of the event.
Required Insurance Limits
A Certificate of Insurance specifically naming the Viola Community Club, Inc., as an additional insured, providing general liability, bodily injury and property damage coverage with minimum limits of liability not less than $1,000,000.00 per incident will need to be received thirty (30) days before the planned event. To obtain a one day "Event Insurance Policy", contact your insurance provider or search on line for companies that specialize in this type of coverage.
Hopefully your event goes off just as you hoped, but event insurance may help take your mind off of the "what ifs" and let you focus on your special occasion.