One Day or Special Event insurance is a crucial kind of liability insurance for specific individuals or for-profit and non for profit organizations that sponsor specific happenings that are not normally covered under the business general liability for any causes. These causes might range from the fact that many event organizers may not be owning any liability insurance at this time and they wish to have some sort of insurance for a specific event, or their current liability insurance does not offer ample protection at the offsite site where the happening will appear. People can get this special event insurance as a non permanent protection.

Wedding, parties, live shows, sports tournaments, shows, exhibitions and markets whether done as organizations, individuals, clubs, religious entities, and business organizations that promote or host activities that are not included in their General Liability Policy, are normally required to provide this insurance when and if requested. Generally, owners of the premises where the event will happen, auditorium, park, city or state authorities will request from the customer to have them documented as additional insured on all certificates of insurance.

What Is Covered Under Special Event Insurance. Coverages provided under one day event, or special event, comprise of bodily injuries and property damages for which the insureds end up legally liable for on or during the activity time. Special event policies may offer commercial general liability coverage, liquor liability (dram shop), and other legal defense for claims of negligence made against the insured, or the individuals organizing the event. In the litigious culture of the present days, event planners have to meet possible liability suits from people participating in the function.

Coverage that comes normally included:

** Each Occurrence – Premises Liability
** Product & Completed Operations
** Personal and Advertising Injury
** Rented Premises, also called Fire Legal
** Medical Payments (optional)
** General Aggregate

Limits on these coverages can vary, but they are normally set at $1,000,000 each occurrence.

Liquor liability, garage liability, or any other liability that is not particularly reported in the policy will not be covered. To be covered, liquor liability, for instance, should be added to the policy by an endorsement.

Certificate Holders and Additional Insured: Usually landlords / managers of the premises where the event will take place (for instance: ball room owners, park districts, villages and municipalities, exhibit organizers, etc.) will want that the event organizers show proof of insurance for the time of the event. People requiring the evidence of insurance need to be assured that in the instance of any adverse legal action the requesters will have the Special Event policy comes to the scene and defend them as well.

Things Influencing Rates and Prices

The main factors determining cost of insurance are:

1. Definition of Activities. Providing insurance for an event with athletic or other sport activities will cost more than another event for wedding, for instance.

2. Length of The Event. A five day event is more expensive than a two day event.

3. Number of Attendants. The more folks participating the event the more premiums people must pay for this policy.

4. Consumption of Liquor. If participants use liquor during the event then an extra coverage will be necessary. That extra insurance is called \’Dram Shop\’ or liquor liability insurance.

Many insurance companies offer online information for one day event. But to get the right quote you might have to speak with an independent insurance producer who can tell you exactly what is required.

Author Bio: Insurance Navy is an independent insurance agent providing Chicago Special Event Insurance Quotes. Also, visit the agency site to get instant Chicago auto insurance from several insurers in few minutes.

Category: Finances
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