Most experts agree that there are eight main types of insurance products that most people need, but there are other types that people might need from time to time.
Special event insurance is one of those extra types of insurance that you might not need. If you need it, though, it’s essential to have.
Are you wondering what the purpose is of special event insurance? Do you have questions about what it covers and whether you need it? If so, here are the answers to these questions.
What Special Event Insurance Is
Do you have any idea what special event insurance coverage is? Most people don’t know what it is until they encounter a time when they need it.
A special event insurance policy is a short-term insurance plan that you purchase for a specific event. When you buy it, the plan provides coverage for a specific date for a stated reason.
The policy might last only a few hours or a couple of weeks. You get to choose the plan’s length, and you can base this on the event you plan.
You will only need a special event plan if you host some type of event that requires extra insurance protection. The event might be at your home or elsewhere, and you might need coverage in either case.
What It Covers
When you buy special event coverage, you can begin by requesting a special event insurance quote from an independent insurance agency. The insurance agent will tell you what it covers and how much you might need.
Based on the coverage you need, they will provide you with a quote. A typical policy includes liability coverage, which protects against injuries that your guests might encounter at the event.
You can also purchase property damage and bodily injury damage. The agent will explain all your options when you request a quote.
Reasons You Might Need It
There are plenty of reasons that people need to purchase special event insurance plans. In some situations, they buy these for parties and events that they host at home. In other cases, you might need this coverage for an event away from home.
Here are some examples of events when you might need to buy a policy:
If you plan a birthday party with bounce houses or other activities that might be dangerous, you might want to purchase special event insurance. If anyone gets hurt, the policy will protect you.
If you want to host a concert at your home or a public place, you should buy an event insurance policy. The policy will protect against injuries and property damage, which is essential for events like this.
If you are responsible for planning a public festival in your town, you will need coverage. The plan will protect you and your city against damages.
Why You Shouldn’t Go Without It
As you can see, there are times when you might need special event insurance. While it’s not something you will always need, you should buy it when you need it.
If you enjoyed learning about special event insurance coverage, check out the rest of our blog for more helpful articles on insurance topics.