What type of insurance do event organisers need?
As an event organiser there are sure to be plenty of things on your to-do list. From choosing the right venue, to selecting suppliers, to picking the best date, there is a lot to consider. One of those things that shouldn’t be forgot is event insurance.
But knowing exactly how insurance for event organisers protects you can be confusing. We’ve broken down the types of one off event cover and what makes up a typical policy.
This is the main aspect of many insurance policies designed to cover event planners. Public liability insurance for events is designed to cover you should a third-party suffer property damage or accidental injury.
Of course, most events should be set up to ensure the safety of its visitors, but accidents do happen. This could involve someone tripping on wiring and injuring themselves, or some unsecured stage design falling on a visitor.
If something of this kind occurred at your event, that third party may opt to sue you. Having event liability insurance in place will ensure that your defence costs are taken care of by your insurance policy. Should you and your event be found to be liable, the cover will handle the settlement that follows.
As well as the event attendees it is also important to ensure the safety of those working on the day. Should a member of staff suffer an injury and blame it on the negligence of the event organiser, legal proceedings could ensue.
With employers’ liability in place not only will the costs associated with defending you as an organiser be covered, but so too will any compensation payout that is deemed necessary to the staff member.
It’s also important to remember that anyone working on the event, whether they are a paid employee or a volunteer, can take action and it is a legal requirement to have employers’ liability in place. The only exemption in this case is if the workers are bona-fide sub-contractors that hold their own public liability insurance.
The most obvious thing that could see you suffering financial loss is if you have to cancel the day altogether. As organiser, it is likely that you will have paid deposits (or possibly even the full amount) to secure suppliers, performers or speakers; and sometimes this money is non-refundable.
Thankfully, having event cancellation insurance in place will ensure that you are not left out of pocket if your event is cancelled, postponed or abandoned for a variety of scenarios.
Although you should check the wording of your particular insurance policy, this could include adverse weather, the non-appearance of a key speaker or supplier, or the original venue being unable to host the event.
The value of equipment used a different events will vary wildly. For example, a local craft fair will usually not need to protect as much equipment as a small music festival. Regardless of the type of event you are organising it is always worth taking out protection for it.
Most insurance policies will protect you against accidental damage, loss and theft of the equipment that is vital to the smooth operation of your event.
And with many events hiring equipment such as sound systems, marquees and other expensive items, having event equipment cover that includes hired equipment is also advised.
Whenever insuring equipment it is vital that event organisers do not under insure their equipment. In the event of loss this could mean you are not able to recoup the full value of your equipment.
How can you get event insurance?
Protectivity’s One Off Event Insurance can include cover for all of the above and is available with instant, competitive quotes. If you’re not the event organiser, but someone selling at an event, then our Stallholder Insurance might be more suitable.