Attending an event as a vendor can be risky; from slips, trips, and falls to sudden changes in weather, there is a lot you need to be prepared for. That’s where insurance can help.
Event insurance is like a metaphorical umbrella that covers your business. If someone gets hurt at your booth or your display accidentally scratches up the floors, insurance may help you pay for medical bills or repair costs.
Event insurance is a type of coverage vendors, exhibitors, and booth holders can use to protect their businesses at events. It often contains a few types of coverage found on one plan and is typically designed to cover you for a short period of time.
The most standard type of event insurance uses general liability coverage. This helps to protect you for incidents such as unexpected weather that blows your booth into a crowd or slips-and-falls that occur in the space your business is occupying.
Event liability insurance is meant to be a third-party policy for incidents that might happen that are out of your control (third-party = people injured or property damaged from your negligence).
It can also help protect the event you’re attending or the venue where the event is being held. This is known as an additional insured and is a common coverage you may be requested to add to your policy.
Events usually require you to have a general liability policy that covers at least $1,000,000. Occasionally they may want additional insurance coverage, like a non-contributory waiver. It all comes down to the specific event and their coverage needs for you.
At ACT, we’ve designed a robust event insurance policy that offers you more protection than a standard general liability policy. We’ve added some additional limits that help you have ample financial protection in the unfortunate event something happens.
Below you can find a list of what coverages we offer, what they do, and what limits are available.
General liability insurance is a third-party coverage that can help you pay for claims of bodily injury or property damage that you or your business are responsible for causing.
Let’s say you’re attending an outdoor event and you have an EZ-up tent over your booth. As the day goes on, a storm slowly starts to roll in, but the event is rain or shine so you carry on. Out of nowhere, a gust of wind comes in and sends your tent flying into the parking lot. A couple of cars are scratched, and one person’s windshield is cracked.
You now have to pay several thousands of dollars in car repairs. With vendor event insurance, you may have help paying for the damages.
This coverage can help you pay for damages caused to premises rented to you. It specifically applies to a physical location, like a vendor stall or an exhibition space.
For example, consider a scenario where you are setting up your booth on site the day before a craft show. As you are bringing in parts of your display, your wagon breaks and a large wood sign falls into a window. The owner of the venue is demanding that you pay for a new window to be installed, and the event manager wants it done fast so it doesn’t affect the event.
The cost for a same-day window installation is not cheap, and you don’t know if you can sell enough product at the event to make up for the cost. Damages to Premises Rented to You can help reimburse you for the repair so your business doesn’t have to take the financial hit.
Medical expenses can be costly, but medical expense coverage can remedy the pain. This coverage is meant to help you pay for medical bills treating injuries you or your business caused.
If someone accidentally spilled water on the ground in front of your table at an event and you did not realize it, then a customer comes walking by and slips on the water while looking at your products, they may worry their hip is broken and need an ambulance to take them to the hospital.
A few weeks later, they are asking you to pay for their medical bills from the incident. Because you failed to keep your booth clear of hazards, you would be responsible for paying these bills. This coverage comes in handy for this unexpected expense.
The cost of insurance for an event can vary, but with ACT it starts at $49. Things that can impact the price of your policy include:
Your policy length is the amount of time your policy will be in effect for. We offer 3-day, 7-day, and 90-day policy lengths. This means you will have consecutive coverage for a certain amount of time. You can choose what day your coverage starts on, but this won’t affect the price. You cannot use a policy on different days. Once you buy a policy, it will run non-stop until the specified length comes to an end.
Adding additional coverage usually comes at the request of an event organizer, and payment for extra coverage happens after you have already bought a policy. Think of it like a two-part payment: the first is buying your policy and the second is buying additional coverage. While it does not initially impact the price of a policy, you will be paying an additional charge.
The most popular add-ons we see are for a Primary, Noncontributory and a Waiver of Subrogation for $40. These add-ons mean your insurance policy is the primary one to cover a claim and won’t ask the insurance companies insuring the event for help paying for claims.
One perk to getting insurance with ACT is that you can add unlimited additional insureds for free! This is extremely beneficial to you since most events requiring insurance will also be requiring you to add them as an additional insured. That’s one less payment you have to worry about making.
Looking for events to attend? Check out our list of upcoming events from our partners.If you see one you’d like to attend, you can buy insurance coverage directly from the event’s page.