Outdoor Events and Festivals: Ensuring Your Business is Covered

Hosting special events can be enjoyable, exciting and lucrative. Furthermore, as a business, helping to bring your community together may help garner prospects and expand your network. However, hosting and organizing also require you to account for various risks and exposures. Special events, especially those held outdoors, can be subject to many perils, necessitating thorough consideration of related insurance needs.

What Type of Insurance Does My Business Need for Our Event?

Whether you host outdoor events regularly or are planning to host one spontaneously or for the first time, your coverage needs may be multifaceted and dynamic. You should work with a qualified insurance professional, such as those at Axcess Insurance, to assess available coverages and secure the right policies.

Special event insurance may often form the core of a suitable coverage portfolio. These specialized policies can provide tailored financial protection for incidents that might occur before or during your event, such as the following:

• Cancellations or delays—If you’ve enlisted the assistance of vendors, rented a venue or otherwise made financial commitments before your event, you may have had to put down nonrefundable deposits. Fortunately, your insurance may help recoup those losses and pay for rescheduling fees.
• Liabilities—Hosting an event or festival may make you legally responsible for related incidents that may occur. You could face significant losses if a guest is injured while attending or another party’s property is damaged. The right insurance can help manage such situations. Inquire about adding liquor liability coverage if alcohol will be served as your event.

In addition to special event insurance, your business may also need to ensure that it has the following coverage:

• Commercial property insurance if your event is taking place on your business’s property
• Inland marine insurance if you are transporting equipment and inventory to an off-site event space
• Workers’ compensation insurance if your employees will be working at the event
• Commercial auto insurance if you will be using motor vehicles as part of the event

Ensuring the Right Insurance

The vast array of events and festivals your business may dream up can vary significantly, necessitating a customized insurance portfolio. If you’re in the Bountiful, UT, area, contact the team at Axcess Insurance today to begin assessing your situation and securing the proper coverage.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.