Request A Free Quote
What Is Event Insurance?
Organizations that host events in Massachusetts are exposed to a range of risks while their planned activities take place. Event insurance helps protect host organizations from many of the risks they’re exposed to.
Event insurance is widely available for many different types of activities. Policies may be used to insure festivals, grand openings, seminars, company parties and fundraisers. They also are sometimes purchased to protect individuals who are hosting weddings, or major birthday, anniversary or graduation celebrations.
How Much Do Event Policies Cost?
Insurance companies take into account many data points when setting premiums for event policies, so exact rates frequently vary. Some of the items that they might look at include:
● Where an event is being held
● What activities will be taking place at an event
● How many guests are expected to attend an event
● What coverages and limits are chosen by the host
● Whether the host has taken any precautionary measures
Even with variance among premiums, however, policies tend to be quite affordable. Because they primarily offer liability protections and those protections are offered for only a defined amount of time, insurers can generally keep the associated rates relatively low. Of course, they’re almost certainly lower than facing a major lawsuit with no protection in place.
An independent agent can request quotes from several insurers to help organizations find out exactly how much coverage for their particular event will cost.
Who in Massachusetts Needs an Event Policy?
Most organizations in Massachusetts should consider purchasing an event policy for any major activities that they have planned. This includes businesses, nonprofits and governments, including both those in the state and those out of the state that have activities going on somewhere in Massachusetts.
Additionally, event policies may offer important protections to individuals who are holding significant celebrations.
What Coverages Do Event Policies Offer?
The majority of coverages included in event policies are typically liability protections that help protect the host from certain lawsuits or claims against them. Some of the more common liability protections are:
● General Liability Coverage, which might protect against common accidents
● Product Liability Coverage, which may protect against harm and damage caused by products given out at an event
● Spectator Liability Coverage, which might protect against injuries that observers sustain
● Liquor Liability Coverage, which may protect against alcohol-induced accidents and incidents
● Automobile Liability Coverage, which might protect against incidents involving vehicles used during an event
● Medical Malpractice Coverage, which may be needed if medical care is offered at an event
In addition to these common coverages, some events call for additional specialized coverages. For instance, aircraft liability coverage might be necessary if flying planes or helicopters. Similarly, animal liability coverage might offer valuable protections if live animals are used during planned festivities.
Many event hosts have trouble thinking of all the potential risks they’re exposed to. For help with this process, hosts can sit down with an insurance agent who’s familiar with this type of coverage and has assisted other organizations that put on events in the state. Such an agent will be able to identify the likely risks that hosting an event presents, and they’ll know what insurance coverages help address those perils.
How Can Organizations Get Event Insurance?
For help insuring an event that your organization is putting on, contact the independent insurance agents at John P. Russell Insurance. Our agents have assisted many organizations and individuals in Massachusetts with their event insurance needs, and we’re here to help you. Because of our experience, we can make sure you get a policy that offers robust coverage for almost any activities you have planned.
What Our Clients Say