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Our clients frequently ask us this question. Whether it is a wedding, a milestone birthday, an anniversary celebration, a bar or bat mitzvah, a fundraiser for a charity or any other type of gathering, this is not an easy “Yes” or “No” answer.
Here are a few points to guide you:
For a party that takes place at one of your homes, or a communal space made available to you as part of your home ownership, your liability coverage generally provides coverage for damages for which you are legally liable, subject to the contract’s provisions. Pay special attention to the exclusions on your policy and make sure you have personal injury coverage, in the event someone gets hurt. Also, be advised that breach of contract is typically excluded on a personal liability policy.
If you have vendors providing services, like a caterer, entertainer or valet parking service, it is important to understand what your contract requires regarding insurance. You may need to purchase special event coverage if this is your responsibility.
If you are renting a space to host your event, your contract with the venue will dictate the insurance requirements. If you have to provide coverage for any other entities, like the venue itself, or the service providers, you may have to purchase Special Event coverage.
Special Event policies provide coverage which may be outside the scope of a standard liability or homeowners policy. They allow you to add other entities for coverage and include different options including cancellation, and property damage or stolen property.
If you are serving alcohol and are required to provide liquor liability, that is a coverage that can typically be included on Special Event policies.
It is important that you review your liability policy, any contracts you are signing, and ensure that you have the proper insurance protection, including adequate amounts of coverage.
We are happy to provide our guidance and recommendations if you are in need of advice in this area.