Special Event Insurance

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Arks's picture
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05/22/2010

As I've mentioned before, my sister is currently remodeling a 5,500 sq. ft. building to become an event center. Weddings, receptions, lectures, reunions, parties, small trade shows, bingo, whatever. I've found lots of online samples of event center rental agreements, and they ALL mention requirement of both a security deposit and special event insurance.

I'm thinking the simplest way to handle the insurance is for us to secure the insurance for the renter, since we'd be doing it a lot and know the ropes, and have the insurance cost built into the cost we quote for the rental. Or, maybe the renter needs to actually take out the insurance themselves rather than us handling the paperwork for them, but I don't want to rely on them regarding finding and getting the insurance. I want to be sure they get it, and that it's a simple process for them.

So I'm wondering, those of you who host weddings, receptions, etc. at your property, how do you handle the insurance? Any recommendation on what company to use. I found several online, but don't know if there's one better than another.

Thanks!

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seashanty's picture
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Ha! You'd have to be some kind of crazy to host a foam party at your place! Such a MESS!

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Arks's picture
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seashanty wrote:

Ha! You'd have to be some kind of crazy to host a foam party at your place! Such a MESS!

Or a color party (I had to look that up). I do think some had a small glitter parry once! Still seeing sparkles occasionally, 2 years later!

OnTheShore's picture
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When we do weddings, we require our couples to obtain event liability insurance that includes host alcohol liability, and that names our business as an additional insured IF they are serving alcohol but have not hired a licensed caterer/bartender -- we recommend it even if they have hired one, but don't require it. Of course, we want to get a copy of the bartender's certificate of insurance, and we like to be listed as an additional named insured.

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Arks's picture
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I found humor in some of the list of events one of the events insurers say are ineligible for coverage (below). I can understand them not wanting to risk insuring bonfires or sports events, but fashion shows? Craft fairs? Corn mazes? Seances? Never realized those were so dangerous! And note that they won't insure an event if it's advertised on social media. Seems a bit much. EVERY event is advertised on social media these days.

Activist rallies/marches/literature distribution
Animal obedience training
Athletic events and competitions
Block Party
Bonfires
Cannabis related events
Cinematography & photography for commercial use
Circuses
Color party, foam party or raves
Concerts
Craft Fairs
Events held on an airport premises
Events honoring national and/or local celebrities or professional athletes
Events involving any motorized vehicle(s) in, or while in practice for, or while being prepared for, or while qualifying for, or while testing for any racing, speed, demolition, distance or stunting activity
Fashion Shows
Food eating contests
Fraternity or sorority events
Geocaching events
Gun and/or knife shows
Haunted attractions
Health fairs or shows
Historical battle reenactments
In or on water activities
Mazes (corn, hay or fence)
Open to the Public
Parades
Political events (except private fundraising auctions, benefits, dances, dinners)
Pumpkin chuckin events
Retreats
Rodeos (activities including, but not limited to bull or bronco riding, roping activities, or barrel racing)
Seances
Sporting Events
Ticket Sales/fee to attend/Advertised on Social Media
Tractor pulls
Union meetings

TheBeachHouse's picture
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06/24/2013

craft fair?? Block party??   RETREATS???????????

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Breakfast Diva's picture
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05/26/2009

Oh shoot. I guess I'll have to cancel that circus I had planned. wink

 

Breakfast Diva's picture
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05/26/2009

This is what a lot of b&b's use. I would make the couple purchase it and whoever is doing the booking for the business needs to check that it's in place before the event. Here's my thinking, but I don't know if it's valid or not, but I wouldn't want the insurance in my name or business name in case there is an incident. I don't want a bad mark on my insurance record. Let the couple take the hit.

Wedsafe.com

Arks's picture
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05/22/2010

Breakfast Diva wrote:

This is what a lot of b&b's use. Wedsafe.com

Thanks. And their website jumps you to this one for insurance on events other than weddings. I'll look into that. I'd been thinking just about liability/damages insurance, but they also mention event cancellation insurance. Hadn't thought of that one! Learning every day...

PhineasSwann's picture
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09/25/2012

Our events are covered in our overall business policy, but you can buy single-event insurance policies from most agencies or brokers. Be aware that whether or not you serve alcohol will be a major factor in the cost of your premium. 

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Arks's picture
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05/22/2010

PhineasSwann wrote:

Our events are covered in our overall business policy... 

Diva makes a good point above, that if there is a claim filed, I'd rather it not be filed on my own business insurance as, over time, multiple claims might make my rates go up. Much better to put the burden on the person paying for the event. And of course the business insurance would be there to help in the event something really bad happens, exceeding the amount of special event coverage the customer buys.

Arks's picture
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05/22/2010

PhineasSwann wrote:

Be aware that whether or not you serve alcohol will be a major factor in the cost of your premium. 

Yeah, it's like they think people + alcohol = doing stupid things

But nobody drinks that stuff here in Arkansas Eye-wink

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