Guide to Special Event Insurance for Holiday Parties

THE ULTIMATE GUIDE TO SPECIAL EVENT INSURANCE FOR HOLIDAY PARTIES

Posted October 1, 2024

As the holiday season approaches, curating the perfect playlist, coordinating festive decorations, or crafting the ideal cocktail is typically more top-of-mind than details like insurance for event planners. Nevertheless, an accident can happen on any occasion, so we wrote the ultimate guide to special event insurance so you understand your insurance coverage options.

SO, DO I NEED SPECIAL EVENT INSURANCE FOR MY HOLIDAY PARTY?

In nearly all cases, yes.

Hosting a holiday event, whether it’s a professional engagement or a large private gathering, introduces hosts to a wealth of risks. Additionally, most venues and states require hosts to hold a general event liability policy at a minimum.

For example, if you’re holding a company holiday event or New Year’s party, you’re legally responsible for an employee injury should it happen on your premises. What’s more, you can also be accountable for off-site incidents like drunk driving and other occurrences.

This is particularly alarming considering that most workplace injuries during the holidays happen while employees attend work-related year-end celebrations.

Professional affairs aside, private event hosts could also be liable for similar risks if someone becomes injured or damages property.

THE TOP 5 RISKS IN THE EVENT PLANNING INDUSTRY

Alcohol-related incidents
Travel risks
Property damage
Medical emergencies
Unexpected weather events

Due to these risks, we’ve provided tailored special event insurance to numerous hosts of both professional and private gatherings. Our expertise, combined with nationwide licensing, enables us to offer customized coverage for almost any event in the U.S.

WHAT HOLIDAY EVENT INSURANCE COVERS

As an event insurance provider, we recognize that holiday gatherings come with their own set of challenges. Each event carries risks, and an experienced insurance agent can help address these to protect against potential financial exposure.

The holiday event insurance we individualize for our national partners often includes the following:

Legal expenses associated with injuries, theft, and other qualified instances
Medical costs related to the event
Lost vendor deposits or services that failed to arrive on time
Postponement or cancellation coverage
Catastrophic weather events
Property damage and stolen items
And more

Given that every event has its own risks, we recommend speaking to an experienced event insurance company to ensure you receive the best coverage.

THE PRIMARY TYPES OF SPECIAL EVENT INSURANCE TO CONSIDER

We understand that holiday parties have unique challenges and risks. That’s why it’s vital to know which policies you need and a benefits team that can curate event coverage based on your occasion.

GENERAL EVENT LIABILITY INSURANCE

This is the primary policy necessary for most holiday parties. You want to ensure the general event liability insurance policies include a risk assessment of your event, meet venue requirements, and include enough coverage to avoid financial ruin if the unknown surfaces.

In this case, this coverage offers benefits for qualified legal judgments, claims related to bodily injury, property damage, and medical coverage.

LIQUOR LIABILITY INSURANCE

If you intend to serve alcohol at your event, you need host liquor liability insurance. These benefits cover qualified issues like bodily injury or property damage caused by someone who may have consumed alcohol at your festive event.

On the other hand, full liquor liability insurance is necessary for those selling alcohol who have the licenses and permits to do so. You’ll usually want host liquor liability insurance—provided you’re not asking your guests to purchase alcohol.

Check out our FAQ on alcohol-related insurance for anyone planning their first company holiday party.

CANCELLATION COVERAGE

Holiday parties get canceled more than you might think. Canceled flights, snow storms, and other unexpected causes prevent guests from celebrating, leading to planners losing non-refundable deposits and hundreds in expenses.

Event cancellation coverage handles these circumstances and more.

HOW TO CHOOSE THE RIGHT COVERAGE

Your event insurance should provide comprehensive and appropriate coverage. To find the ideal policy, simply follow these steps:

Speak to your venue: Inquire if you need to meet specific requirements or insurance or if there are any hazards.
Assess your risks: Consider what could go wrong and ensure your policy accounts for such scenarios.
Partner with professionals: Speak with an event insurance company to cover all bases. Working with an agent means having a partner to prevent coverage gaps while walking you through the underwriting.

CONTACT OUR SPECIAL EVENT INSURANCE COMPANY TODAY

As you prepare for the holiday season, don’t let the unexpected ruin your event. Whether you’re hosting a corporate holiday party or a private gathering, our nationwide licensing and industry expertise can address coverage gaps that provide peace of mind festive planning.

Ashley Barto