Are you throwing a company picnic this summer? Besides food and drinks there is something else you may want to think about, and that is Event Liability Insurance. But first, check with the company you are already insured with because you might already have coverage.
Event Liability Insurance is an insurance policy you can get for the length of your event and it protects your company in case of property damage or bodily injury. In fact, some rental properties actually require you to have it, especially if there is alcohol involved.
If your company is planning to host an event like a concert, tradeshow, seminar, or golf outing, it might be wise to obtain event liability insurance. Unlike a company picnic, you might not be covered under your current policy. It’s always better to be safe than sorry.
Planning ahead is very important. Include the discussion about Event Liability Insurance with those planning the event to allow plenty of time for the underwriting process of the insurance. The cost for a one-day Event Liability Insurance is only $300 for the peace-of-mind protection it will provide. It’s important to note, these types of policies are only for a 24 hour period and do not have a rain date option.
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