Are you in need of event liability insurance policy for a special event? Let Boardwalk Insurance Group help find the right insurance company for you.
Many banquet facilities, hotels, convention centers, parks, country clubs, night clubs, concert halls and other venues require event hosts to carry some type of special event insurance these days. From weddings to fundraisers to concerts to parties with alcohol, some type of insurance is requested to protect not only the property owners, but the hosts themselves from claims that may arise.
Some examples of event insurance claims which have occurred:
• Property Damage: Facility walls were damaged when children smeared chocolate from the chocolate fountain.
• Property Damage: A guest spilled an entire glass of red wine on the carpet.
• General Liability: Five guests became sick from eating spoiled food from an outside caterer. They are seeking coverage for their medical payments.
• General Liability: The bride’s cousin fell on the dance floor and broke her leg. She is seeking coverage for her medical bills.
• Liquor Liability: The bartending service hired to serve alcohol at the wedding negligently served alcohol to an intoxicated or underage person.
Liquor Liability insurance coverage is crucial if the event you are hosting will be serving alcohol. It makes no difference if you are utilizing a cash bar or providing an open bar service for your guests. Either way, there is serious exposure to you and the facility. If the venue or 3rd party service they use to cater alcohol states they have their own coverage, you must make sure that they provide you with a certificate of insurance for your particular event dates/times and also list you or your organization on the policy as an additional insured.
The banquet hall may be held liable for the actions of those selling or serving alcohol at the wedding. It may cost thousands of dollars in defense costs to prove you are not liable for a liquor liability claim and you can be brought into a claim if the wedding couple does not have a liquor liability insurance policy in place. It’s just not worth the trouble so you must make sure adequate coverage is already in place or you should purchase your own.
Boardwalk Insurance Group provides special event insurance coverage for all types of events at all types of venues. Our typical event policies include:
• General Liability and host liquor liability coverage with separate limits (important if there are multiple large claims)
• Coverage for property damage caused to the rented banquet hall facility
• Medical payments coverage
• Food and beverage product liability
• No general liability deductible
• $1,000 sublimit for lost deposits (cost to reimburse for a lost deposit if a vendor goes out of business, declares bankruptcy or fails to show up) included at no additional charge
• Up to three additional insureds including the banquet hall facility owner can be included for no additional charge
• No deductible
• Defense Costs are outside of the policy limits
• Limits of $1,000,000/$2,000,000 available
Quotes can be provided within 24 hours of submitting a completed application. Premiums for events can range anywhere from $250 to $10,000 per day. Factors considered in determining costs include the type of venue, type of event, number of people attending, if the event is free or paid, if any celebrities will be in attendance, if alcohol is being served, event timings, etc.