04th May 2010
The Event Insurance Cost Must Be Included In Your Event Budget
When you organise a big event, you are likely to have other things on your mind than your exposure to legal liabilities, at that point the event insurance cover comes in play.
When you organise a big event, you are likely to have other things
on your mind than your exposure to legal liabilities, at that point the
event insurance cover comes in play. It doesn’t cost much and can be
quite suitable for exhibitors, providing valuable protection for your
company and investment, leaving you to get on with running your stand.
If the event at which you have arranged for space as an exhibitor is
cancelled for reasons beyond your control, you can have a sigh of
relief as you are covered for losses up to the sum insured. It will
protect you, if you face a claim for compensation payable to a third
party, following actual or alleged accidental bodily injury or damage
to their property, if the incident happens during your event. It may
even be possible to extend the cover to include also fraud or
dishonesty on the part of any of the trustees or volunteers, etc.
Event Insurance can be a cost-effective package for a one-time special
event. You can either choose public liability cover, and can further
purchase an additional employers’ liability cover for your legal
liability for injury to your own and casual staff or volunteers.
This sort of cover is ideal for you, especially if a criminal action is
brought against you for any breach of statute or regulation directly
relating to any actual or potential claim covered under this section.
This cover also includes loss of, or damage to, the venue's buildings,
fixtures, fittings and machinery, up to thousands of pounds. You may
also get significantly higher limits depending upon your requirements.
Some event insurance companies would pay the defence costs incurred, in
order to defend an action against you. They provide cover for loss of
or damage to business property within the space allocated to you at the
event, which you own or for which you are legally responsible (for
example, hired equipment).
• This insurance is available to
give you peace of mind and covers losses for events which occur due to
unforeseen circumstances. Experienced event organisers know to expect
the unexpected and your business insurance may not be enough to cover
you if something ruins your special event.
• These policies
can be purchased for special events ranging from baby showers to
birthdays, graduation to retirement, engagements to weddings and
anniversaries. There are companies, who can offer single event
insurance, multiple event insurance or even annual event insurance -
whatever your needs. As the special event holder, you will most likely
be required to provide proof of liability insurance to the facility or
venue where you are planning to hold your special event.
are occasions, when things can go wrong, even with proper arrangements
made for people attending a fair, a fete or a carnival, a specialised
low event insurance cost for your policy can then come to your rescue. It
protects you against the unforeseen, letting you bask in the glory of a