Original Article Date: 02/10/2022
Last Updated: 02/10/2022
If you're a craft or artisan vendor, you've likely been to a show or event that requested Proof of Liability Insurance as part of your vendor's contract. What you may not know is that you have plenty of options for event coverage - ranging from one day events, three-month terms or even an annual policy if needed.
Read on to discover more about event liability coverage as we answer a few of our most frequently asked questions about event liability.
Event Coverage: How does it work?
Event policies are very similar to your normal business general liability policy, except that they provide a specific liability for a specific event and often include the lessor (the organization leasing you the short-term space) as "Additional Insured" - this is very important as you are liable to that party when you lease your space.
Some event policies also offer contents coverage for the inventory you have travelling with you, which may actually be more enhanced than your business's policy since there is a limitation on how contents are insured away from the business premises.
How long can I have a policy for?
Depending on the circumstances, you may need a policy for longer than just one day. Various carriers offer different terms - it is possible to take a three, six or twelve month policy out that can cover multiple venues on the same policy.
What if I do multiple shows/venues?
Again, if you have multiple shows that you regularly exhibit at, you might find comfort in knowing most event policies will provide coverage to multiple locations over a given time period. If you have one booth, but visit three venues a month for three months of the year - you still only need one policy!
I already have business insurance - Do I still need this?
Check the wording of your policy carefully. Many policies have limitations on where they will afford coverage, how much coverage is given (if any) and always remember: even if they do provide coverage, any claims that arise will be claimed against your primary policy. With event insurance, the claim goes specifically to that event policy. This can help avoid negative claims situations with your primary business policy.
Does event insurance provide coverage out of state?
Yes! Our policies here at Encompass Agency are unique in that we write event insurance based on the domiciled state of your business. If your business is based out of NY, but you're attending an event in FL, you're good! In PA, but exhibiting in WY? No problem. Always check with your agent first to see if they have availability in both states though!
The bottom line: What's this costing me?
Recently we quoted a leather and crochet craft vendor out of New York that is exhibiting for several months in the state of Florida. The vendor mentioned they would be working at a few different events for the next several months, and a few of these events would be regular locations. We broke this down into multiple rates: The annual price? $600 The 6 month coverage? $365
The 3 month coverage? $200
The one day coverage? $98
Summary
Making sure you have the right coverage for your event is crucial to protect both your business and the venue. Flexible terms mean that a policy can be written just for you and your needs.
To get a quote on your next exhibit or booth, tap or click the request button below. Our team of dedicated insurance professionals will have a one-on-one consult with you at no cost to review your options.
Coverage available in FL, NY, OH, PA, SC, TN & VA
800-484-9712
About the Author
My name is Taylor Haines, and I am the CEO & Principal of Encompass Agency, Inc. (Buffalo) and Jordan First Insurance (Jordan, NY). I grew up in rural Skaneateles, NY and have over a decade of experience in the insurance industry after my first job in 2012 at GEICO as a direct writer. I am passionate about insurance and its relationship to law, and frequently research the latest industry trends regarding the legal implications of insurance. I earned a Bachelor from the University at Buffalo in History and hold a Master of Science from Buffalo State College in Human Resources.