When you're having an event in Illinois, liability insurance is necessary. Whether it's a small party or an ongoing series of events, this policy can help reduce your risk. To ensure you're getting the right coverage, consider using a licensed professional.
An independent insurance agent can help with carrier options and affordable premiums. They work on your behalf for no cost to find a policy that fits. Connect with a local expert to get started.
What Is Event Liability Insurance?
Event liability insurance can mean the difference between your Illinois gathering going off without a hitch or ending horribly wrong. Essentially, this policy will help pay for a loss resulting from bodily injury or property damage. Things you'll need to disclose to get a quote are as follows:
- Date(s) of the event
- Are you hiring employees or contractors?
- How many people will be attending the event?
- Will this event be ongoing throughout the year?
- Is there travel involved?
- What type of event is it?
- Will food be served?
- Will alcohol be served?
- Will there be minors present?
- Will there be property that needs to be covered?
All of these factors and more will allow carriers to assign a premium. There are numerous events that this policy could help insure. Sometimes you will have business insurance already in place, and event insurance is needed for a special occasion.
How to Get General Liability Insurance for an Event
Event liability insurance is your Illinois general liability insurance on a smaller scale. The difference is that one policy will last for a longer period and be all-encompassing, while the other policy will be specific for one period and cover only events that occur during that time.
- General liability insurance: Will pay for a lawsuit arising out of bodily injury, property damage, or slander. A typical policy term is one year.
- Event liability insurance: Will pay for a lawsuit arising out of bodily injury, property damage, or slander. The policy term is different for every event and usually lasting only for the dates of the event.
You can have a general liability policy as a part of your business insurance and still obtain event liability coverage. Sometimes your general liability carrier will not insure a particular event you are putting on for various reasons. In this case, you would keep your general liability policy intact and add event liability insurance for that specific occasion.
One-Day Event Liability Insurance
In 2019, Illinois had $16,998,439,000 in commercial claims paid. Some of these were due to liability losses. Event liability insurance is just as important as your regular personal or business insurance policies.
One-day event liability insurance is just as it sounds. It can also be referred to as special event liability insurance. Coverage can be used for business or personal events alike and will provide liability protection for a one-day event.
Liquor Liability Insurance for an Event
If you're putting on an event in Illinois, you'll need to decide if food or alcohol will be served. If you deem it necessary to have liquor at your occasion, you will need to purchase liquor liability insurance. Liquor liability insurance can be added to your regular commercial insurance policies as well.
Most restaurants will carry this policy to protect their exposures. Liquor liability will pay for a claim arising out of a loss due to alcohol. If you serve an alcoholic beverage to an individual at your event, and they leave intoxicated, the costs arising from an accident will fall back on you. If you're without liquor liability coverage, you'll be financially responsible for the loss.
Private Event Liability Insurance
If you are having a private event in Illinois, you'll want this policy. Any event liability insurance can cover both private and public affairs, depending on the carrier offerings. A wedding is an excellent example of a private event that could take place.
Like event liability insurance, private event insurance will pay for a lawsuit arising from bodily injury, property damage, or slander. If you're serving alcohol, you can add liquor liability coverage as well. When you're having a private event, and things have to be canceled for any reason, you can see if your carrier offers cancellation coverage. This will give you reimbursement for any deposits or expenses that have already been paid.
How to Find an Independent Agent in Illinois
Your Illinois event takes a lot of planning and preparation. Part of that proactive approach should include event liability insurance. This policy can ensure that your occasion will be remembered in a good way.
An independent insurance agent can help with carrier offerings and premiums. If you're looking for the best rate in town, a licensed professional can do the shopping for you. Connect with a local expert on TrustedChoice to begin.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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