Event Liability Insurance – Know What You Need

6th January 2010

Many businesses find themselves looking for event liability insurance when they are planning to have an exhibition for their company. It can be quite confusing if you are not sure what you are looking for especially if you do not have a professional sitting by your side. Not to worry after you finish reading this you will be on your way to understanding what you need.

The first thing that you need to look for is a provider for the coverage you seek. There are many ways to do this but the most up to date way is by searching using the internet. There are many different types of agencies and brokerages out there waiting to serve you and your business.

When looking for event liability insurance it is important to know exactly what you need for your business. Some common questions to ask yourself before settling on one of the many companies you see are:

● What type of exhibition are you planning
● How long will you need the coverage
● What types of items need to be covered (Art, Furniture, Services, etc.)
● What does each company specialize in
● Will security be provided
● Will the event have food services
● Will there be liquor at the exhibition

These are just a few questions to have in mind before settling for one of the companies you have contacted. Be sure to contact more than one provider to see what they may have to offer. Event liability insurance should be provided by each available company with the pricing varying and the exact policy changing slightly between companies.

Now that your business has researched all of the possibilities when it comes to the type of coverage you can receive it is time to select the right provider. Each company varies a bit but for the most part your business will need to submit an application to the provider. At this point the provider will have their agents look over the forms and send out an underwriter. When submitting your application for event liability insurance be sure to include as many details about your show as possible so that there are not any surprises for the underwriter. 

The underwriter will arrive at your business destination and will run scenarios to assess all of the risks that might be involved with your show. Once the assessment period is over the underwriter will determine whether or not your business exhibition is insurable or not and at what premium it should be charged.

Assuming that the business is insurable it should review the policy and determine if it is right for the business or not. A thorough review of the policy will determine if each factor is right for your business and only your business knows what is right. Event liability insurance can be a great thing if the policy in place makes sense. At this point your business only needs to sign the policy and put it in place. See, it was not as bad as it seemed at first, all you needed to know were a few facts to help you decide what is best for your business.