Types of Event Insurance
As an event organiser there always seems to be a never-ending pile of to-do lists. Whether it be the events venue, the catering or the date it always seems like a struggle. One of the many things you should ensure is not left off your to-do list is event insurance. Taking this into account we at Cavendish Venues have listed some of the different types you may want to consider.
PUBLIC LIABILITY – Public liability insurance protects you against claims made by a member of the public (event attendee) if an accident occurs as a result of your event / your negligence. Chances are that most event venues will almost certainly have public liability insurance; this however would be limited to the venue’s negligence!
EMPLOYERS LIABILITY – As well as the delegates, it is important to ensure the safety of those working for you during the event. Should a member of staff suffer an injury due to the negligence of the event organisers, legal proceeding could ensue.
In this case, with the coverage of employer’s liability, any costs associated with the defence and compensation will be taken care of. It is important to know that employer’s liability is a legal requirement to cover full time, temporary and volunteer staff.
CANCELLATION COVER – In the event of a cancellation for reasons beyond your control, cancellation insurance will cover you for any loss of profits or irrecoverable expenses like non refundable deposits for the event venues, equipment, speakers etc.
As with all policies there are many limitations & exclusions which vary from each provider so please be sure to read the small print.
EQUIPMENT COVER / PROPERTY INSURANCE – Depending on what type of event it is, the equipment can vary widely, whether it be staging, lighting, seating etc. With this in place you can be protected against accidental damage, loss and theft to all insured equipment and hired equipment.
OTHER TYPES OF INSURANCE –
The scope of possible covers available for an event is quite wide and far reaching and obviously stretched further than just the event itself: things you should be considering as well include:
Directors & Officers Liability
And whilst this ‘list’ is not exhaustive, there would be many bespoke covers available which would suit individual / business needs.
THINGS TO CONSIDER WHEN PURCHASING INSURANCE –
Always check what is and is not included when purchasing cover, as you can imagine there are all types of policy exclusions and limitations, and these can vary with each provider.
You should not cut corners when choosing the right provider; as with many things in life, if it’s very cheap it is possibly too good to be true
Always be sure to read through the T&Cs carefully.
As we, at Cavendish Venues, are not members or monitored by the FCA we cannot give advice on what types of policy are best, but we do know people who can if you need assistance.
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