Do You Need Insurance for Your Promotional Event

A promotional event is an effective way to garner more attention for your business, get people excited about what you do, and provide an entertaining experience that people won't soon forget. But planning your promotional event takes a lot of time, hard work, and dedication, as you can't simply put it together overnight. And one of the things you'll need to consider during the planning process is whether or not you'll need event insurance. 

General Liability Insurance

General liability is a must because it covers all of the basics. For example, if a guest slips and falls, whether he was sober or drunk when it happened, or if you hand out a product that's faulty as a gift giveaway and the recipient decides to sue, you won't have to pay for all of the damages because you will have the insurance to cover you. This will definitely give you the peace of mind you need to host the event and enjoy it. 

In addition to general liability coverage, you can also opt for additional insurance coverage if you feel that you need to. This is because general liability will typically only cover you for losses that occur as a result of property damage or bodily injury caused by your agents or employees. 

Liquor Liability Insurance 

Other forms of coverage include liquor liability insurance, but this is only necessary if you're planning on using bartenders that will be serving alcohol to your guests. This will protect you from bartenders who accidentally or intentionally serve minors, for example. If you aren't planning on having alcohol served at your event, though, you can save some money and avoid this type of insurance altogether.  

Cancellation Insurance

Sometimes things don't go according to plan and you have to cancel your event, much as you hate to do so. There are a variety of reasons that this can occur, and without the right coverage, you'll still be held liable for a variety of costs that you were contracted to pay. But cancellation insurance can cover you if you have to cancel your event at the last minute as a result of inclement weather, an unusable venue, or other reasons.

Venue Protection

If you're planning on hosting your promotional event at a large hotel or a catering hall, you'll probably need to sign a contract that will protect the venue if any claims are filed against it. But this insurance will also cover you, so it's definitely worth getting. Basically, instead of just covering you, the venue's owners will also be covered. 

Coverage for Planners

Finally, event planners that work as contractors may also opt to get their own insurance policy to protect themselves if they aren't covered otherwise. 

If you decide that your promotional event should be covered by insurance, check out options available from different companies. Spend the time doing the necessary research to find the right insurance provider and level of coverage, just as you would do for any other type of insurance that you purchase.