It’s your big horse show day! (Spoiler alert: You should have gotten special event liability insurance.)
Your equestrian boarding stable is putting on its first annual horse show at a nearby park facility. It’s your first show and you want everything to go smoothly.
You have spent at least 60 hours of your life planning, calling people, moving equipment, forming your show committee and you have invested a good load of cash into the event.
It’s 6 am and about 250 trailers have already arrived and it’s only an hour until showtime. Things are looking good and turnout is looking to be better than you had anticipated!
As you walk towards the judge’s stand, suddenly you hear a big crash and commotion. Some construction workers at the park drop a ladder off some scaffolding, and it causes instant pandemonium.
Several nearby horses spook and one gets loose, yanking the lead rope out of his owners hands. The free and spooked horse runs off through the venue. The excitement causes a nearby gelding to start bucking, and its 7 year old rider goes flying through the air. She lands hard on a rock, breaking her arm and she requires several stitches for her other cuts.
The excitement causes a nearby gelding to start bucking, and its 7 year old rider goes flying through the air. She lands hard on a rock, breaking her arm and she requires several stitches for her other cuts.
And Guess What Else?
Consequently, her parents sue your barn for the damages and medical expenses, stating negligence because of the fact that the show was next to a dangerous construction zone. Did you have your butt covered?
Nope. Now You’re in Trouble!
Hence, this is why special event insurance exists! Sometimes it is called wedding insurance. Whatever it’s packaged as, when things go wrong at an event, you sure don’t want the liability to come from your own personal pocket. It could ruin you and/or your business.
Special event liability insurance coverage is good for farmer’s markets, community gatherings, anniversary parties, baby showers, festivals, fairs, shows and more.
Some venues even require that you have special event insurance to hold your event on their property.
Event Cancellation Coverage
This is a relatively inexpensive guarantee that you will get your deposits back as long as the reason you’ve called off the event is in the list of acceptable reasons.
What can happen at baby shower event, you might ask? Well, lots of things! What if you get sick on the day and have to cancel? You would lose out on your deposit and/or entire payment. Liability insurance for events will reimburse you for the loss.
Maybe a hurricane forces you to cancel your event. Event cancellation insurance will usually cover this.
The event hall may go under after you have already made an expensive deposit. Event cancellation insurance coverage will cover you for this.
Your cancellation insurance coverage may reimburse you for losses if you have to cancel due to illness, injury or from other unexpected causes. ALWAYS check your insurance policy to see what is covered and what is not.
Special Event Liability Insurance
When things go wrong and someone is hurt or property is damaged, this is where event liability insurance kicks in. It will normally cover you up to a limit amount, and that will depend on you- as far as how much you want to be covered. (Read more about liability insurance.)
Some policies also offer liquor liability insurance, which usually has different specifications as well.
In many states, serving kids alcohol is a criminal offense. If the kids sneak a few beers and then get caught or do something stupid, you could be in big trouble. Let’s say the kids weren’t even served the alcohol. Instead, they sneak some half empty glasses from the trash. You could still be help responsible and to defend yourself, you would need a lawyer in today’s litigious world.
Let’s say the kids weren’t even served the alcohol. Instead, they sneak some half empty glasses from the trash. You could still be help responsible and to defend yourself, you would need a lawyer in today’s litigious world.
What About If I Host A Farmers Market?
Yep. That could be covered by special event liability insurance.
How About If Aliens Abduct Me?
Ok now, let’s be real. Be serious! There’s no way your alien abduction would be covered. Besides, that only happens in Florida. : )
What If I Have A Wedding Planned And The Venue Cancels On Me?
Covered! Want to read about what happened to a few unfortunate brides who didn’t get their weddings covered? (See below) Yes, they all got their money back but had to fight for it, a stress they could have easily done without. Because getting your money back from a venue or your bank/credit card is not guaranteed. Check this story out:
If My Special Event Is More Than One Day Would It Be Covered?
Sure! Policies may have limits so check it out.
One Day Event Insurance Considerations
- It’s always a good idea to purchase event insurance once you start putting down deposits for an event. Usually there are restrictions on the time table for buying the insurance. Common times are no later than two weeks before the event to no sooner than two years prior. The choice is yours.
- It’s a good idea to check into the current insurance you already have. There’s a chance that it will cover your event. Check with your local insurance agent.
- Choose a special event insurance coverage provider that is licensed in your state.
You can get your event liability insurance quote by going to Hiscox. There you simply give your details for the event and answer a few questions and you are on your way to making sure that you are protected from monetary loss. In conclusion, special events insurance is a necessity if you want to protect your investment. Therefore it’s a low cost reassurance and peace of mind provider for most of your one day event insurance needs.
In conclusion, special events insurance is a necessity if you want to protect your investment. Therefore it’s a low cost reassurance and peace of mind provider for most of your one day event insurance needs.
Make sure your business has the right coverage. Check out other types of commercial insurance.