At Taggart Insurance, we want to ensure you have peace of mind and are concentrated on your event, not liability.
Hosting events such as concerts, festivals, conferences, trade shows, sporting events and celebrations subjects a business to a variety of liabilities and business risks that must be considered to avoid costly litigation or other losses when something goes amiss. Common coverages for events include property insurance, general liability insurance, and cancellation insurance.
A property insurance policy protects equipment at events ranging from sophisticated audio-visual systems to folding chairs—whether it is owned, borrowed or hired for the event. The policy generally covers property while in transit to and from the event as well as during the event.
General Liability Insurance
A special event general liability insurance policy provides broad protection for situations in which an event holder or concessionaire must defend itself against lawsuits or pay damages for bodily injury or property damage to third parties. When alcohol is served without a transfer of money, the policy can also include host liquor liability. Limits and premiums vary greatly depending on the type of event and location.
- Liquor liability coverage is necessary if you are charging for alcoholic beverages at an event or if a liquor license is required to distribute them. You may be held liable during the course of an event by reason of:
○ Causing or contributing to the intoxication of a person
○ Furnishing alcoholic beverages to a person under legal drinking age or under the influence of alcohol
○ Violating any statute, ordinance or regulation relating to the sale, gift distribution or use of alcoholic beverages.
Similar to business interruption insurance in other industries, cancellation policies are essential to preventing serious financial consequences in case of an event’s cancellation. These policies can be useful even when the event is not entirely cancelled, expenditures due to unforeseen circumstances (such as alternate forms of transportation to the event during inclement weather) are generally covered as well. The policy generally covers perils that are beyond the control of the event’s host, including inclement weather, a speaker dropping out, strikes or disease outbreak. In some cases, the same policy can cover multiple events.
Policies are less expensive if they are purchased far in advance, and premiums range depending on the time of year, the type of event and the level of environmental risk in the surrounding geographic area.
Based in Boulder, CO, Taggart Insurance is here to make sure you’re protected in any scenario.
Reach out to find more about Taggart and how we can help you make your event a success.