As the nights start to get longer, we’re reminded that the season of parties, fundraisers, and large gatherings is upon us. Before we know it, the holiday season will bring socials and year-end parties that fill our calendars. Or maybe you have something personal to plan, such as a wedding, anniversary, milestone birthday, or fundraiser. Our best advice for organizing any special event is to start planning well in advance to ensure you have everything you need in place long before the date.
A seasoned event organizer will know what is required to host and organize an event, but those who are new to event planning or haven’t organized one in a while may not realize all the details you need to cover, including insurance. Whether you’re organizing a gathering for charity, your personal celebrations, or a work event, ensuring you have the right liability coverage will help you host a memorable party for all the right reasons.
Special events liability insurance is a one-time type of insurance policy that covers the duration of your event. Your coverage and cost will vary depending on the conditions and scope of your event, which is why it’s important to get a quote every time you host an event.
The purpose of events liability insurance is to help protect you from the financial burden and liability in the event of an accident, property damage, or unexpected expenses from a lawsuit due to your event. In general, the more people that gather, the higher the chances are that an incident could occur, especially if alcohol is served. Insurance provides coverage and peace of mind so you and everyone in attendance can enjoy your event safely and responsibly.
The type of insurance that will best cover your event will depend on a few factors:
- What type of event are you hosting?
- Where is your event taking place?
- Will you be serving alcohol
- How much coverage do you need?
Here are some of the types of insurance coverage to consider.
Commercial General Liability – this type of insurance helps provide coverage for property damage and bodily injuries of your guests and attendees. It can also provide some coverage for legal expenses in the event there is a lawsuit.
Liquor Liability – this type of insurance provides coverage in the case of any liquor-related events or a lawsuit.
Special Events Coverage – this type of insurance provides coverage for third-party property damage, injuries, and accidents and can cover employees and volunteers. Commercial general liability coverage may include special events coverage, or you can purchase it as an add-on.
Cancellation Coverage – this type of insurance provides coverage if your event is cancelled, interrupted, or postponed. Depending on the cause of the disruption, this coverage may help you with compensation for financial losses.
There are many tasks to check off your list when planning a special event. With any permit or insurance, it’s important to inquire and apply several weeks before the event date to ensure you have the right protections in place. In large urban areas, such as Edmonton, Sherwood Park, St. Albert, Leduc, and surrounding communities, there will be an influx of events at certain times of the year. You can save yourself the headache of finding coverage at the last minute when you plan in advance.
Any event that brings together a large group of people will benefit from liability insurance. You’re gathering may include friends and family, co-workers, volunteers, or the general public. No matter who you bring together, there are liability coverage options to suit your event. Policies will typically offer coverage for different tiers based on how many participants will attend. Group sizes start at 1-100, 101-500, and larger.
An event with alcohol is another reason to have liability insurance in place. Even with the best of intentions, when alcohol is present at an event, it can increase the odds of property damage or injuries happening at your event. Not only will you want to apply for special event insurance with liquor liability in place, but you’ll also need to secure your liquor licence in advance of the event.
When planning all the tasks you need to complete for your event, we recommend applying for your special event insurance two to three weeks in advance. This allows ample room to receive your coverage in time, especially during a busy event season.
While you can call the insurance companies directly to find out the rates for special event insurance, you’re likely busy with your event planning and could spend those hours on much more productive tasks. At Cornerstone Insurance, our insurance brokers have the policy information for the top insurance providers in Alberta at our fingertips. We’ll research the different rates and coverage options and provide you with the options that match the needs of your event at the best-quoted rate.
In the event that you need to make a claim on your special event coverage, working with a broker means you have an experienced professional ready to help. We’re here to answer all your questions and help you file a claim. We can also be the contact person with the insurance company if you’d like that assistance.
Are you planning an event this fall or winter season in Red Deer, Leduc, Wetaskiwin, or the Edmonton area? Contact our commercial insurance brokers at Cornerstone Insurance. We’ll listen to your needs, shop around for the best rates, and help you find coverage so you can host a successful event.