Planning an event? We've listed the types of event insurance covers you'll want to consider taking out to protect yourself against liability for unforeseen incidents.
As an event organiser, you will have considered many aspects of your event and are likely to be juggling many tasks at once. From determining when and where the event takes place to how you’ll promote it, there’s a lot to plan for…but you shouldn’t overlook insurance.
There’s a range of insurance package options out there which are tailored for specific events, but you may be wondering what policies will apply to you. In this article, we’ll share the key types of covers most organisers should consider taking out to protect themselves against unforeseen issues or incidents happening.
Whilst it may not always be a requirement for you to insure your event (some clients or venues may expect you to), it’s certainly worth the investment.
1. Public liability
Public liability insurance is the main type of policy event planners will need. This will cover you for:
Accidental injury, illness or death of a member of the public
Damage or loss of public property
From trips on loose cables to a smashed window, anything can happen, so you should always be prepared.
If an incident occurred and you were held responsible as a result of your negligence, there could be legal proceedings against you. If this happens and you don’t have insurance, you could end up paying a large sum of money to pay the claimant and legal fees. Public liability will protect you from financial liability, such as compensation claims, giving you peace of mind during the event.
2. Employers’ liability
It’s not just members of the public who you need to think about. The people who you hire to work your event could also make a claim should they suffer an injury and hold you accountable.
Whether you have one or more members of staff working your event, employers’ liability may be a legal requirement. Whether paid or unpaid, this type of cover applies to full-time, temporary and casual staff, as well as volunteers.
With employers’ liability insurance, you’ll be covered for your legal liability to pay damages and expenses relating to claimants costs which have arisen from injury.
Employers’ liability can usually be added to most types of insurance (depending on the circumstances around your event). That said, there are usually exclusions which apply to this type of cover. For example, here at Event Insurance Services, our policy does not cover injuries relating to road traffic incidents or injuries to employees of subcontractors or professional contractors (as other companies you hire should have their own insurance policy in place).
3. Event equipment
When you think about what could go wrong at your event, your main concern is probably to do with the safety of those in attendance. This is of course of paramount importance but you shouldn’t neglect insuring your event equipment, especially when it can be so expensive. You can find cover specifically designed for equipment which you are responsible for at the event, both at the venue and when it’s in transit (geographical limits may apply).
You can be protected for the following:
Equipment that is stolen (providing this was not left unattended or unsecure)
Equipment which is lost in a fire
Equipment that accidentally gets damaged (providing it is not the result of improper set-up or caused by the use or dismantling of temporary structures)
You should also bear in mind that the cost of replacing or repairing equipment may have to amount to a minimum sum (for example, here at Event Insurance Services, costs must exceed £250 as this is the minimum policy excess). That said, you should always check the policy documentation sent to you so that you understand what is and isn’t covered.
4. Cancellation/postponement/abandonment cover
After all the effort you put into the meticulous planning of your event, the last thing you want is for it not to even go ahead. From adverse weather conditions and inaccessibility of the venue to performers cancelling due to illness or injury, a number of things could force you to pull the plug on your event. That’s where cancellation cover comes in.
If you take out cancellation insurance, you can be covered for the following:
Irrecoverable costs and expenses
Additional expenses to minimise financial loss from having to rearrange an event or if cancellation is threatened
Loss of profit or revenue
Many insurance policies will allow you to include cancellation cover but you will need to check what can be included in whatever policy you look to take out.
Please note that the above types of insurance covers aren’t included in every policy. You may need to take out public liability insurance and add another level of cover for further financial protection. The circumstances surrounding your planned event will also be considered for your policy.
Why is it important for events to have insurance?
As much as you plan for your event, you won’t be able to predict how the day(s) will go and if there will be accidents. You’ll need to identify potential risks and hazards and be prepared for the worst - if you don’t, you may end up out of pocket as a result of costly claims.
Insurance is a safety blanket which is there to protect you should there be an incident (such an injury to a member of the public or damage to the venue), so you don’t need to worry about expenses relating to claims.
How much is event insurance?
The cost of event insurance will depend on a number of factors, including:
How many people are likely to attend the event - the more people in attendance, the more likely an incident may occur
What the event is - some events may have more risks involved than others, For example, an event which involves dangerous activities (such as activities performed at high speed, at a height or in water) may cost more to insure as there’s a higher risk of accidents occurring
What level of cover you require - you may wish to include additional cover (such as cancellation cover) which will increase the cost of the policy
How long the event will last - an event lasting a number of days will cost more to insure than single events
How do you choose the right insurance cover?
With a wide range of event policies out there and many options for additional cover, you may be wondering which type of insurance is right for you. You’ll need to think about what type of event you're planning to run, how many people are likely to attend, whether you’re hiring staff and how long the event will last. If you’re planning more than one event, multiple event insurance will be a more cost effective way to ensure all of the events (rather than getting cover for each individual one).
If you’re looking to take out event insurance but you’re not sure which option is best for your needs, we can help. You can get in touch with our friendly team who would be happy to advise you.
At the end of the day, it’s up to you as the event organiser to decide whether you take out a policy or not. Some clients, partners, venues or even the local authorities may require you to at least have public liability insurance, but otherwise, it’s your choice. That said, any event comes with risks, but you can mitigate these with the correct insurance policy in place.
Aside from avoiding costly claims, you’ll also have peace of mind during the event. So, you can focus on the day and ensure that everything runs as smoothly as possible.
Planning an event?
If you’ve got some events in your calendar to organise, you need to be prepared. Here at Event Insurance Services, we can provide you with the comprehensive cover you need. So, whether you’re organising a festival, fete or sporting event, we can help. Contact us today for more information or get a quote here.