Holding an event comes with a certain level of risk, for hosts can sometimes be held financially responsible if something terrible happens during their planned activities. Event insurance policies help protect individuals and organizations from some of the risks that come with holding events.
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What is Event Insurance?
Holding an event comes with a certain level of risk, for hosts can sometimes be held financially responsible if something terrible happens during their planned activities. Event insurance policies help protect individuals and organizations from some of the risks that come with holding events in Massachusetts.
Event insurance policies are often written as package policies that offer multiple coverages, so they can normally be used to protect against several risks. In many cases, policyholders can customize the coverages in a particular policy to suit their specific needs.
What Coverages Are Included in Event Policies?
Since policyholders can often select the specific protections they want, the exact coverages included in even policies frequently vary. Some of the coverages that a policy might make available are:
Automobile Liability Coverage, which may cover vehicles that are used during an event
Spectator Liability Coverage, which may cover injuries sustained by spectators at an event
Medical Malpractice Coverage, which may cover first aid services rendered at an event
In addition to these fairly common prepositions, some event hosts might also need specialized coverages. For example, animal liability coverage or aircraft liability coverage may be appropriate if live animals or aircraft are used during an event. These are just a couple of the many more specialized coverages that policies sometimes offer.
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For help selecting the right coverages for a specific event, hosts should work with a knowledgeable agent who specializes in this form of insurance when comparing policies. A specialized agent will know what coverages are available and be able to make informed recommendations.
Do Event Policies Offer Protection for Hosts’ Property?
While some event policies offer coverage for rented, leased or borrowed equipment that’s used during activities, most policies don’t cover host-owned property. Such coverage generally isn’t needed, because hosts should have separate insurance policies that protect their property before, during and after an event.
Hosts that don’t have their owned property adequately insured should ask their event coverage agent about other insurance protections. Agents who are familiar with event policies can frequently also help with traditional property policies.
Who in Massachusetts Should Have an Event Policy?
Most organizations that are hosting an event in Massachusetts should procure an event policy that covers their activities. This includes companies, governments and nonprofits holding an event in the state regardless of where the organization is actually located. Fundraisers, conferences, seminars, grand openings and company celebrations all might require insurance. Even small holiday parties occasionally present risks that a policy can help protect against.
Additionally, individuals who are holding an event in the state generally should consider purchasing a policy themselves. An agent can help individuals determine whether getting coverage for a wedding, anniversary celebration, graduation party, birthday party or other event makes sense. In many cases, it does.
How Can Organizations and Individuals in Massachusetts Get Event Insurance?
If you have an upcoming event planned, talk with the independent insurance agents at Scotti Insurance Agency about getting event insurance for it. Our agents have helped insure many festivities in Massachusetts, and they have the expertise necessary to help determine whether your planned activities should be insured. If you do need a policy, they also can help you compare offerings from different insurance companies and select the one that best suits your protection needs.
For quotes or questions, reach out to the experts at Scotti Insurance Agency. We’ll be happy to assist you!
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.