Event insurance is one of the most confusing types of general liability insurance for both consumers and small business owners. If you don’t take the time to understand it, you could find yourself in a world of trouble if your event causes someone else damage. To help you navigate the many policies and providers available, we’ve compiled everything you need to know about event insurance general liability insurance and how to get the right policy at the right price.

How Does Event Insurance Work?

Before you begin any major event planning, you need to understand how your event insurance general liability will work. Insurance companies handle two types of claims: first party and third party. The first-party refers to your own business; if something happens at an event that causes damages, those damages are reimbursed by your own insurance company and reported under first-party. In a third-party claim, it's an individual who has been injured or suffered loss and damage in some way.

 Any insurance company worth their salt should be able to give you a detailed overview of how their event insurance general liability will work. This knowledge is vital for your business and its planning. After all, it’s impossible to produce an event without securing proper coverage beforehand. To find out more about what you need for your upcoming event, talk with an insurance company or a qualified professional. It’s best not to make any final decisions until you have a clear understanding of what options are available and which are right for your type of business. Never base any decision solely on price; quality should be your number one priority when it comes to making major purchases such as insurance.

Why Do I Need It?

Don’t make a false economy of your event insurance general quote. It may not seem like an essential item, but many mistakes can happen at a trade show or similar event and you could find yourself in court over it. Your biggest fears are almost certainly going to be subsidence and claims of damage by third parties as well as accidents taking place on your premises.

 To cover yourself against these and many other eventualities, you should be taking out a comprehensive policy for your event insurance general quote. It will protect you from third party claims as well as damage caused by you, your employees or even customers. If there are any injuries involved, it will also cover you for treatment costs. A good policy will give you access to a wide range of experts and ensure that their services can be used at any time throughout your event insurance general quote period.

ow much does it cost?

Well, it depends. Some companies provide event insurance general liability coverage for free as a perk of signing up for their service; other companies may not be willing to waive all fees. And if you’re planning an event with more attendees or seeking additional protection like legal consultation, that means you’ll likely have to shell out some money for insurance.

 Whether or not event insurance general liability coverage is free depends on your business’s annual revenue and insurance history. For instance, if you generate less than $100,000 in revenue annually or have never purchased general liability insurance before, then you might not be eligible for free coverage.

Is it worth it?

When hiring event insurance, people wonder whether or not it’s worth it. There are many reasons why you might be hesitant to sign up for event insurance general liability insurance: you might think that your policy is so basic that it won’t be useful, you might have no idea what kind of coverage you should get and how much of each type, or maybe you don’t even know what event insurance is.

When Should I get Coverage?

If you’re hosting events that are open to a public audience (or there is a possibility of an audience), then liability insurance will likely be necessary. The general rule of thumb is if someone could potentially sue you for an injury or accident that occurs at your event, then you should definitely get coverage. Also keep in mind that some venues require it before booking your event. If you’re not sure about whether or not you need coverage, contact an agent who can help guide you through the process. 

While still others are contingent on your current state and need of personal insurance. Many liability policies have similar features: protecting against incidents involving guests and staff, personal injuries sustained by guests at events as well as medical expenses that may result from bodily harm due to incidents including slip and falls on premises where they occurred due to property damage resulting from accidents or even covering intellectual property in some cases. Insurance generally comes with different levels of protection varying by price and other factors ranging from 5 million USD to 10 million USD and higher.

Where Can I Get Coverage?

One thing you can’t skimp on is insurance coverage for your business. When it comes to protecting yourself, your staff and your property, you need comprehensive coverage. This doesn’t just mean that you should get some general liability insurance: it means that you need event insurance general liability insurance , including stand-alone public-liability policies and umbrella policies in case anything goes horribly wrong.

 One of the most common types of coverage you need is general liability insurance, which helps protect you in case someone gets hurt or their property is damaged while they’re at your event. Every business should have a policy that includes general liability protection. But some types of events require more coverage than others do.

Tips for Saving Money on Coverage

Keeping your event insurance costs low can be tricky. Many of these deals require a high deductible, or carry a premium that is far above what you would pay on other insurance policies. But there are ways to save on general liability insurance while still maintaining comprehensive coverage. Here are our top tips for saving money on event insurance general liability coverage:

•  Choose Specialty over Generic*Generic coverage options are often not flexible enough to meet your specific needs, and don’t have enough available discounts and promotion offers. Instead

•  choose a specialty insurer that focuses solely on providing event insurance general liability coverage. They will offer more customized plans with lower premiums and more benefits than you could get from a generic provider

• Think Twice Before Upgrading Your Coverage*Upgrading your policy may sound like an easy way to lower your premiums—but it might not actually save you any money in the long run.