If you are holding an event in Missouri, adequate protection is necessary. While you may not think coverage is needed for private or public parties, it can help you avoid financial ruin. Event liability insurance should be reviewed with a licensed adviser.
Fortunately, an independent insurance agent can help with carrier options at an affordable premium. They will do the shopping for you at no cost so that you can save time and money. Connect with a local expert for tailored quotes in minutes.
What Is Event Liability Insurance?
Essentially, event liability insurance will help pay for a loss resulting from bodily injury or property damage. If you're holding a gathering of any type in Missouri, you'll want this policy. Things you'll need to disclose to get a quote are as follows:
- Dates 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?
There are several events that this policy could help insure. Some will last just one day, and others will be ongoing throughout the year. Nonetheless, this coverage is essential when you are hosting an event.
How to Get General Liability Insurance for an Event
Your event liability policy will include a type of general liability in Missouri, but for a specific event. The difference is that your event liability lasts for just that period, while your general liability is broader and usually has a 12-month term. Take a look at the explanation below:
- 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 typically different for every event and usually only lasts the dates of the event.
One-Day Event Liability Insurance
In Missouri, $7,615,718,000 in commercial insurance claims were paid in 2019 alone. Many of those were due to liability losses arising from bodily injury, property damage, or slander. Event liability insurance can help protect your finances from a lawsuit.
If you are putting on an event for just one day, then one-day event liability coverage is perfect. This policy is meant for a very short-term occasion and is usually inexpensive. It will cover the entire 24 hours from start to finish and then expire. If a loss occurs at your event, this policy will pick up the bill.
Liquor Liability Insurance for an Event
If you're putting on an event in Missouri, you'll have to decide if it will serve adult beverages. While this might seem like a good idea, the proper protection is necessary to avoid a significant claim. Liquor liability insurance can help cover the unexpected.
Liquor liability will pay for a claim arising out of a loss due to alcohol. If a guest leaves your event intoxicated, this could pose a problem. When they go out into the world and cause an accident, you could be on the hook. This works the same with restaurants, and that is why they carry this coverage.
Private Event Liability Insurance
In Missouri, private events need protection too. Most carriers offer event liability coverage for private and public affairs. An example of a private event that is very typical is weddings. Reimbursement for the big day, should it be canceled, is a standard coverage in this type of private event policy.
Private event insurance in Missouri works the same as event liability coverage. It will provide insurance for a claim arising out of bodily injury, property damage, or slander. When you serve alcohol, you'll want to add liquor liability to your private event policy. This will ensure that if someone goes home with too much to drink, you will be covered for any damage that occurs.
How to Find an Independent Agent in Missouri
An occasion in Missouri takes planning and preparation, not to mention protection. The right coverage is necessary to have everything go off without a hitch. Event liability insurance can save the day when a loss occurs that's unexpected.
An independent insurance agent will be able to quote through several carrier options. Since they do the shopping on your behalf, you'll save time and premium dollars. Connect with a local adviser on TrustedChoice in minutes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
©2021, Consumer Agent Portal, LLC. All rights reserved.