One Day Special Event Insurance
Ed Sneineh, Chicago Insurance Agent
One Day or Special Event insurance is an important kind of liability protection for certain people or for-profit and non for profit organizations which sponsor certain activities that are not normally covered under the commercial general liability for any reasons. These reasons could range from the fact that certain event organizers may not be holding any liability insurance at the moment and they need some sort of insurance for a particular activity, or their present liability insurance does not provide enough protection at the remote location where the activities will take place. People can get this special even insurance as a temporary protection.
Parties, weddings, concerts, sports tournaments, shows, exhibitions and markets whether done as organizations, individuals, clubs, religious entities, and business organizations that sponsor or host activities that are not included in their General Liability Policy, are normally required to provide this insurance when and if requested. Normally, owners of the facility where the event will take place, auditorium, park, city or state authorities will ask from the insured to have their name listed as additional insured on all proof of insurance.
Coverages Under Special Event Insurance. Coverages provided under one day event, or special event, include bodily injuries and property damages for which the insureds become responsible for on during the event time. Special event programs may provide commercial general liability coverage, dram shop (liquor liability), and other legal defense for claims of negligence made against the insured, or the persons organizing the Event. Nowadays' litigious culture, event planners face possible liability suits from people attending the events. Coverage that comes normally included:
- Each Occurrence/ Premises Liability
- Product/ Completed Operations
- Personal and Advertising Injury
- Rented to Rented Premises, also called Fire Legal
- Medical Payments (optional)
- General Aggregate.
These limits could be up to 1,000,000 more or less.
Certificate Holders and Additional Insured: Normally owners/ managers of the premises where the event will take place (for example: banquet hall owners, park districts, villages and municipalities, show organizers, etc.) will require that the event organizers provide proof of insurance for the time of the event. People requesting the proof of insurance want to make sure that in the event of any problem the requesters will have the Special Event policies come to the pictures and defend them as well.
Factors Affecting Rates and Prices
The main determinants of price of insurance are:
1. Nature of Activities. Insuring an event with athletic or sport activities will cost more than another event for a wedding, for example.
2. Length of The Event. A five day event is more expensive than a one day event.
3. Number of Attendants. The more people attending the event the more premiums people have to pay for the insurance.
4. Consumption of Alcohol. If attendants consume alcohol during the even then additional coverage will be necessary. That coverage is called 'Dram Shop' or liquor liability insurance.
5. Price may range between $275 to $600 or or less.
Need a fast free one day, special event quote? Feel free to call us at 708 233-4848