Are you organising an event? We’ve put together a list of the different event insurance policies you should consider to protect yourself in the event of potential incidents.
As an event organiser, there are many aspects to consider and you will probably have to juggle many tasks at the same time. Whether it’s deciding on the date and location of the event or how you’re going to promote it, there’s a lot to plan for as you prepare for your event.
Event insurance is one of the elements that shouldn’t be overlooked! It is flexible and can cover you against many risks that may arise before, during or after the event, whatever the type of event you are organising.
1. Public liability for organisers
Public liability insurance is the main form of insurance you will need.
It will protect you against:
- Accidental injury, illness or death of a member of the public
- Damage to or loss of public property
Public liability insurance is essential, especially if you are hiring volunteers or staff for your event. Whether it’s tripping over electrical cables or breaking windows, anything can happen. Legal action could be taken against your organisation if an incident occurs and you are found liable. If this happens without insurance, you could have to pay a substantial sum to the claimant as well as the legal costs.
Whether you have one or more members of staff (volunteer, full-time or otherwise) working on your event, paid or unpaid, public liability applies to everyone. With organiser’s public liability insurance, you will be covered for your legal responsibility to pay for damages and expenses related to claimants who have been injured.
2. Property damage cover
You shouldn’t forget to insure the equipment and property involved in your event, especially if it is expensive.
You can find insurance specifically designed for the equipment for which you are responsible during the event, both at the venue and during transport.
You will therefore be covered for:
- Stolen equipment
- Equipment lost in a fire
- Equipment accidentally damaged
That said, you should always check the guarantee documentation sent to you to understand what is covered and what is not.
3. The cancellation or postponement guarantee
A number of factors may force you to cancel your event, including adverse weather conditions, problems with access to the venue or the cancellation of artists due to illness or injury.
Cancellation insurance can help. You can be covered for
- Irrecoverable costs and expenses
- Additional expenses to minimise financial losses linked to the reorganisation of an event or the threat of cancellation
- Loss of profits or revenue
4. How much does event insurance cost?
The cost of event insurance depends on a number of factors:
- The number of people likely to attend your event. The more people attending, the more likely it is that an incident will occur.
- An event involving dangerous activities may cost more to insure because the risk of an accident is higher.
- The level of insurance required. If you require additional cover (such as cancellation cover), this will increase the cost of your event insurance.
- The duration of the event. An event lasting several days will cost more to insure than a one-off event.
As you can understand, it is impossible to estimate the cost of such insurance as there are so many possibilities and so many different events. We can only suggest that you get as many quotes as possible so that you can compare them.
Despite your best efforts, you will not be able to predict how your event will unfold or whether there will be unforeseen circumstances. You will need to identify potential risks and dangers in order to prepare for the worst.
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