What exactly is Event Insurance? An introduction…

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Running an event is an exciting but challenging project. Whether you’re a serial event planner, or you’re hosting a one-off extravaganza, it’s difficult to ensure everything is perfect. Things are one hundred miles an hour and time always seems to be running away from you. Catering, sound, lighting, performers, invitations etc need to take priority don’t they? Who’s got time to sort event insurance?

The answer is simple. You don’t have time NOT to get cover for your event. Physical injury, equipment damage, event cancellation; all can happen without notice. And without it being your fault.
Without proper event insurance, mishaps and accidents can cost huge amounts of time and money.

So what exactly is event insurance?

Depending on the insurer, event insurance can incorporate many different things. But we’ll break it down a little based on the product we offer to our customers.
First of all, we define what type of event it is, because that will decide the type of cover needed. At Insure Our Event, we offer insurance based on:

– Single events (Music event, Festival event)
– Exhibitions
– Multiple Events (Repeat events i.e. car boot sales)
– Parties and Celebrations

We separate the type of event because different events come with different risks. Within each type of policy, we offer different types of cover. These include:

Employers liability

This type of cover protects employers from accident or injury occurring to their staff members. This usually doesn’t include sub-contractors who should have their own insurance.

Public Liability

Public liability insurance covers the cost of legal action and compensation claims that are made against your business.
A third party (member of the public) may take legal action if they are injured or experience damage to their property because of your business, event or service. Public liability insurance will cover the legal expenses and claim that occur with those unfortunate events.
For more information on Public Liability, you should have a read of our Ultimate Guide to Public Liability blog.

Equipment Cover

Equipment cover protects you from accidental damage, loss or theft of equipment used at the event. This includes any equipment that is owned, hired or leased.

Event Cancellation Cover

This cover protects you against event cancellation or abandonment that isn’t your fault. This could be the result of anything from adverse weather conditions to police enquiries.

What isn’t covered by event insurance?

This question depends on the event (as we try to tailor cover to suit your exact needs), but in general, there are a few things to be aware of when purchasing event insurance.
This will differ depending on the insurance, but as a rough guide, your event insurance won’t cover you for:

– Wear and tear
– Losses where repairs or replacement is under the policy excess (ours is £250)
– Third party property damage and/or Bodily Injury to or death, illness or disease of any person caused by or arising from a Dangerous Activity
– Any willful or malicious act or any act of vandalism resulting in damage at or to the Venue;
– Any liability arising from the effects of any alcoholic or illegal substance including prescribed drugs;

Important things to remember

We know this sounds like you’re the choir and we’re preaching, but it’s important to remember the fine print when purchasing event insurance.
For a start, you should always read the policy wording. It’s detailed and should tell you exactly who, what, why and how you’re covered.
And lastly, don’t leave it to the last minute. At Insure Our Event, we like to get a full and proper understanding of your event so that we can give you the most appropriate cover at the best price.

If you’re in the planning stage of an event, get in touch today by calling us on the number at the top of this page, or clicking ‘contact’ and filling out the form.

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