Prevent disasters with special event liability insurance.
Whether someone is planning a big wedding or putting together a golf tournament for their favorite charity, special events are a big part of a community. When planning these activities, it is important to think about safeguarding this investment and those that have been invited by having a special event insurance policy.
Coverage
PROPERTY LIABILITY
Protects contents that are owned, borrowed, leased for the event
GENERAL LIABILITY
Protects bodily injury or property damage to third parties
LIQUOR LIABILITY
Protects BYOB and open-bar events
CANCELLATION
For outdoors events
Event Insurance Cost Factors
COVERAGE DURATION
Multi-day events have an increased risk of exposure.
TYPE OF EVENT
Some events have higher risk for injuries or damages.
POTENTIAL RISKS
Competitions and alcohol increase potential risks.
LOCATION
Large venues potentially have larger claims.
VENUE REQUIREMENTS
Different venues have different risks.
POLICY LIMITS
Insurers will set a maximum they will pay for a claim.
According to Allied Market Research, the global event insurance market was valued at $726.9 million in 2022, and is projected to reach $2.3 billion by 2032, growing 12.7% from 2023 to 2032.
According to Civic Science, a consumer analysis platform, 13% of U.S. adults say they will either have a wedding or have already had a wedding this year. An additional 8% of adults have plans for 2025 or later.
According to the insurance agency Travelers, 45% of wedding claims in 2023 were due to vendor issues and 18% were due to property damage caused by wedding day accidents.
There are more than 38,000 nonprofit organizations in Missouri. Most nonprofits host at least one or two fundraising events each year.
Keep in Mind
- Additional coverage is needed when selling alcohol.
- This is a short-term policy meant for specific dates.
- Make sure vendors provide their own proof of insurance.
- Some events held on personal property can be covered with home insurance policies.