Exhibition Insurance – Protect You and Your Exhibit

5th January 2010

Businesses that are growing are planning events to further their reach within today’s society. The reasons are plentiful for doing this because there are so many great benefits.  To make sure that your business is covered then you need exhibition insurance. 

Maybe you are asking yourself what exactly is this? The definition is coverage provided on an all risks basis for a business whose product or service, while being on display at a public event, is damaged or completely destroyed by a risk that is not specifically excluded from the policy in question. Understanding the risks, liabilities, and limitations of your exhibition insurance can be very beneficial. 

Your business needs will vary according to what type of business you are. The same can be said for the type of coverage and policy that you will need. Depending on what type of business you are and what type of event you are planning will go a long way in determining what type of policy is offered to your business. The business must also keep in mind what brokerage or agency they plan to acquire the coverage through as this will also come into play when deciding what amounts are paid and covered. 

Determining which brokerage or agency to acquire your exhibition insurance from can be one of the hardest decisions because there are so many options. One thing that will stay the same is how they set up the policy as it is regulated.  The provider will send an underwriter out to assess the risks involved which depend on the details you have provided them with as well as any information they have gathered. Your business should have in mind exactly what they want covered and for how much before attempting to secure the coverage.

No matter what brokerage or agency is selected they should be quick, affordable, and efficient. That means whenever a claim is brought up they are available to handle the necessary actions. They are there for your protection as well as you are there to pay for that coverage.

After the underwriter has finished the assessment period they will offer coverage, however there may be exclusions. Exclusions are things that the underwriter has determined are uninsurable or too high of a risk for the normal policy. Be sure to know these exclusions as well as the limitations set out in the exhibition insurance policy.

It is very important that your business understands all of the limitations of your coverage as this is very important to having a successful show. Of course to know the limitations of your coverage you have to know the limitations of the products and your own business. After you have decided to go with a provider then they will send their underwriter to come out for the assessment period to access any risks that may occur during your show. Once the time table is set and the underwriter has accessed the risks then an exhibition insurance policy may be issued by the provider. It is up to your business whether or not to accept the policy or attempt to acquire coverage through another provider.