As learned in this video, a lot goes into event planning, besides food and entertainment. An event insurance plan is a general term that covers different types of insurance that offers liability coverage for an event. While insurance firms can sell their unique insurance product, any form of insurance plan covering various features of an event is classified as event insurance.
General liability is an essential event insurance plan. It is structured to safeguard an event organizer and other insured parties from accidents within the territory of the venue and vendors participating if event organizers can’t control it.
Organizers hosting an in-person event considering renting a venue in the US should know that many physical venues require general liability insurance. It should cover approximately $1,000,000.
The venue and other vendors participating in the event may also need an additional event insurance plan. Organizers may need to acquire different types of insurance depending on their event type.
The event insurance plan an organizer gets depends on various factors.