This Helpful FAQ on Events Insurance Will Make Your Day
When you invite people to an event, there is always the risk that someone uninvited will show up and cause problems. If something goes amiss, it could cost you a lot of money. Event insurance in Gold Coast can help protect you from these risks.
Ask your insurance company these questions and get a professional opinion to ensure our general guidance applies to your specific circumstances:
Do I Need Event Insurance If It’s Just a One-Time Gathering?
An insurance policy that covers you for an extended period can be useful if you regularly host or have a series of events. You can also buy one-time event liability insurance to protect you for as long as you need it. This option might be better if you're planning an event like a festival, street party, or fair, or if you only host events on occasions, such as fundraisers or community celebrations.
Before you host your event, check if the venue requires you to have insurance. Some venues will not allow you to host your event unless you have some form of insurance.
There is no specific answer to this first question as the event insurance cost will vary according to several factors, including the type and size of the event, the location, the number of attendees, your needs, and the perceived risk. However, as a general guide, most event insurance policies will start at around $500.
The amount you'll pay for your insurance policy depends on the type of insurance you get, the biggest amount of money your policy will cover (usually $5 million, $10 million, or $20 million), and how long your coverage lasts. Contact a few insurance companies or providers online to compare different insurance quotes.
How Do I Get Certification for Event Insurance?
Your insurance provider will give you a document called a Certificate of Currency after you purchase an insurance policy. This document proves that you have a policy, which you might need to give a copy to a venue to verify that you have the right insurance coverage.
What Kind Do I Need?
Some insurance policies cover specific events, like weddings or parties. This can be viable if you want insurance coverage for a one-time event. Let’s go over them briefly:
Public liability insurance protects event organisers from being held liable if a person present is hurt or property is damaged due to negligence. This type of insurance can be purchased to cover different events, such as concerts, conferences, expos, classes, or studios.
Special event insurance covers businesses if something disrupts their ability to hold an event. This can include things like bad weather, cancellations, or accidents. This type of insurance can help businesses recoup some of their losses if they have to cancel or postpone an event.
Professional indemnity is important if you are in any profession where you may be held liable for any damages or losses you cause to another person. It can protect you from paying out of pocket for any damages or losses resulting from your professional activity.
Get the Right Coverage
Learn more about the right event insurance in Gold Coast for you through New Wave Insurance! We will find the right policy that protects your assets, business, vehicles, and events, so sign up through our website right now!