As evident from the name itself, special event liability insurance policy is a special kind of insurance policy whose main objective is to protect your family from liability associated to certain kinds of accidents that might happen during the event and may cause property damage or bodily injury.
Special event liability insurance policy can also come in real handy during wedding reception. According to media reports, lots of wedding reception centers now need couples to carry special event liability insurance protection. The best part about special event liability insurance policy is that it also includes the option to name your reception venue as additional insureds without any extra cost. To get best possible special event liability insurance policy deal, you need to shop around in the market.
- The coverage level of special event liability insurance is mentioned below.
- The general aggregate of level 1 protection is in the range of $ 1,000,000.
- Per person limit is in the range of $ 1,000,000.
- Third-party property damage is in the range of $ 250,000.
- You need to pay a one-time premium of $195.
There is no deductible for general liability coverage in the special event liability insurance policy but yes for a third-party property damage claims, there is a $1,000.00 deductible applicable.
When should you get special event liability insurance policy ?
You can buy special event liability insurance policy as early as one year prior to your main event, but it should not be later than 24 hours before your event date. In an ideal scenario, you should buy policy at least 15 days prior to your event so that you get decent enough time to look closely at your coverage documents. Read the terms and conditions of your insurance policy carefully before signing it. If you are not happy with any clause, talk to your insurance company immediately. Once you have sign the agreement paper of insurance policy, you will not be able to modify the terms and conditions.
What does special liability insurance policy cover ?
- Property damage
- Alcohol related accidents.
- Personal injuries.
- Bodily injury.