05th January 2010
Insurance for Exhibition – Covering Your Exhibit
There are many different kinds of coverage when it comes to insurance for exhibition.
There are many different kinds of coverage when it comes to insurance for exhibition. The most important thing for a business to remember when acquiring this coverage is making sure all aspects and risks are covered. When covering your exhibit you have to know exactly what type of exhibit your business intends to have.
A business can utilize a special event to maximise sales or to introduce a new product or service. Whatever the reason your business has decided on having this special event you need to find a brokerage or agency to provide the right amount of coverage at an affordable price.
To figure this out your business needs to know what they plan on doing for the event. Some of the things to consider when contacting a broker or agent about insurance for exhibition are:
● What type of event is planned? (Convention, show, meeting, etc.)
● Will the event be indoors or outdoors?
● When will the even take place?
● How long will the event last?
● How many guests will be attending?
● How many employees will be working the event?
● What type of coverage is necessary?
● Are there items that need to be explicitly covered?
Once the answers to those questions have been established it is the business’ responsibility to contact a provider about coverage. The provider will then send out an underwriter to assess all of the risks involved and issue a policy. At this point it is up to the business as to whether or not to accept the insurance for exhibition policy.
Looking over the policy the business should focus on several factors to determine whether the policy is adequate or not. Some of the factors to look over include, price for the premium, what is the maximum coverage, what is the minimum coverage, what are the liabilities, what are the risks that were assessed, and maybe most importantly can our business afford the coverage. These factors should be looked at carefully. If it is determined to efficient and affordable then the insurance for exhibition policy should be accepted and put into place before the event is planned.
In the beginning process all businesses should be advised to contact several brokerages and agencies before deciding on a policy. The broker or agent should be on your side and offer advice on what is the best way to manage your coverage. Each one of the two types of companies often specializes in one area and can offer better prices accordingly. Since there are no regulations on exact pricing it could vary greatly depending on which company you talk to. No matter which company you choose be sure that they qualify according to your business wants and needs.
In order for your business event to be successful you will certainly need to insure the best insurance for exhibition policy possible. Your business may have specific wants and/or needs that other businesses do not. These are the things you should focus on when choosing your coverage and policy.