It all comes down to the actual provider. If you’re looking to host an event outside of Canada, additional coverage and precautions may need to be secured ahead of time. Some providers will agree to extend coverage to events being hosted outside of the country, but that coverage will be limited in how much and what it can cover.  

Event insurance, or special event insurance, can be purchased for a small business that consistently hosts events or it can be purchased as just a one-time insurance policy for a wedding. Regardless, special event insurance is a necessity if you’re the host of a particular event. It doesn’t come free, unfortunately. The cost of event insurance may largely depend on the following: 

• If alcohol is being served. Alcohol is, unfortunately, a huge liability, such that it presents the need to purchase additional coverage in the form of alcohol liquor liability coverage. This can increase your premium considerably. 
• Liability limits. Your coverage will be limited to a certain amount it will be able to pay out per claim over the set policy period. The standard limit is $1 million liability insurance for your event, but you can opt to increase that amount if you wish. 
• Specific details will factor into the cost as they may impact your risk, such as the date, length of the event, and location of the event. 
• The kind of event that you’re hosting. Evidently, different events will pose different kinds of risks, like sporting events vs speaking engagements. 
• How many people will be attending the event. The more physical bodies attending your event, the greater the overall risk. 

If you would like a more accurate assessment as to the total cost of your special event insurance, please obtain a free quote with Sharp Insurance today. 

Remember that event insurance — and special event insurance (they’re essentially interchangeable terms) are insurance packages, and not single coverages. They’ll cover a variety of different things, depending on the exact kind of coverage you choose to purchase. It’s recommended that you purchase event insurance and sometimes even mandatory, depending on the venue where you are doing the hosting. Event insurance can offer event liability coverage if a claim is made against you during the hosting of your event. It also protects you if a claim is made against you for damages to the event space. 

You may also request to know about additional coverage options, such as host liquor liability (you will need a liquor permit before purchasing this coverage) or event cancellation insurance, if you need to cancel and recoup the lost costs. There is also medical payments coverage which covers the cost of any bodily injuries that may occur at the place of your event. Chat with your broker about what is specifically covered in your policy so you can be made aware of what you have protection for, and so there are no surprises should you need to make a claim. 

Absolutely you do! Weddings are some of the most popular forms of events that event insurance or event liability insurance is purchased for. Wedding insurance is popular due to the frequency of weddings. Special wedding insurance packages may even be offered by some carriers or designed for events like weddings, covering things like damages to the venue or if any guests end up being injured while attending your special event. If liquor is being served at your wedding or if you hired a vendor, you could potentially add coverage for host liquor liability insurance for a slightly increased premium. 

Anything could happen at an event. It boils down to the kind of event you’re hosting and who’s attending, but the bottom line is that events are often the biggest cause of property damage (think parades, festivals, etc.) and there could be plenty of issues arising such as rowdy guests, injuries and damaged property. Avoid any potential mishaps by purchasing event insurance proactively.