1st March 2010
Public liability insurance for events is a policy that covers in the event that someone gets hurt or there is damage done to property where you or your business is holding an event. On top of this sometimes it will even cover damage that is done to a customer or person attending the events property, (like if their car is broken into). Most of the time the insurance will even cover legal fees that can result from an accident or damage to property.
Everyone running a business that holds events open to the public should have some type of coverage to protect them. First, in some places it is a legal obligation to have this type of insurance to protect you and the people who attend the event. Secondly, it can be very costly to end up having to pay for damages, injuries, and legal fees out of pocket. Public liability insurance for events is vital for any business that regularly holds events or holds just one event. It will protect them and their customers.
There are a lot of different accidents and such that could happen on property during an event that would require you to have to pay out a claim and they could cost a lot of money. For example, what if it is night during your event? The lot where you are holding the event is not lit very well. There is a hole and one of the customers visiting the venue for an event falls in it and breaks an ankle. They have to call an ambulance and end up needing surgery. This leads to rehab for the ankle. Paying for this out of pocket could end up costing the company a lot of money. Having public liability insurance for events could save them most of this money as it would cover all of the medical bills and if they customer sued them it would cover the legal fees too. Another example might be that you are renting some property and one of the lighting units you are using on the stage falls into a building on the property. This leaves a huge hole in the roof and a lot of damage to the building. Insurance will protect your business legally and cover the damages.
As you can tell insurance is very important to any business as accidents do happen. You cannot plan for an accident or see the future to keep one from happening. You can however, take preventive methods to try to protect yourself from accidents. You can take safety preventive steps like filling in any holes you find before the event occurs. Another important step is having the proper protection. Public liability insurance for events is a good preventive measure to take for any business.
So if you have a business that holds numerous events that are open to public you may need to think about investing in insurance. Accidents can and do happen and taking preventive measure like public liability insurance for events can end up saving a company a lot of money in the end.