When it’s time to plan a one-time special event or annual festivity that is part of ongoing business operations, business leaders and managers may need to look at additional insurance options for special coverage. Getting good comprehensive event insurance is a key part of making sure that summer parties to honor employees, reach customers, or enhance a brand will go as planned. Because of the possibility of extreme weather that can happen in a lot of areas from June through September, summer events can be particularly hard to plan and insure.
Covering Additional Activities and Venues
It is important to take note of the kinds of activities that will be happening at the special event. This may explicitly be excluded in the ongoing insurance policy that covers day-to-day retail or other operations. For example, a Fourth of July or Labor Day party may involve a lot of outdoor grilling, pool use, or other physical activities that can't be considered as business activities. These may require specific insurance coverage. In addition, events that happen beyond the boundaries of business-related properties or locations may also need their own temporary coverage. Planners should look carefully at how many people are slated to participate, what activities are planned, and what the inherent safety issues may be at the event location.
In some cases, those who are handling insurance for business events also want to make sure that any rain-outs or other cancellations will not sink their plans. Some insurance plans help to handle the issue of deposits made for specific dates and any other costs that could come up if the business needs to cancel or postpone an event.
Beyond providing for any specific physical activities and the number of people involved in the business event, business owners or leaders may want to book other kinds of coverage for events that happen in large cities or public places that may be associated with more risk. For instance, while sources like Marketplace.org show that only about 60 percent of business owners invest in terrorism insurance for their businesses, this is another kind of rider that can get tacked onto special event insurance if it seems like it may be a prudent part of planning.
Think about all of these considerations for getting the right insurance plan for an upcoming business event to leave nothing to chance when it's time to inject some fun into a routine office schedule. Call Key City Insurance at 866-466-2109 for more information about Victorville business insurance.