Our world seems to be getting increasingly complex and significantly more litigious. In the old days, you would just invite people to the wedding, birthday party, or graduation celebration without demands from the venue for coverage and without the fear of being sued by someone who drank too much. Those days are gone and in their place, the insurance industry has created a Special Event policy.
This new coverage is designed to handle all sorts of issues surrounding renting a hall, serving liquor, and adding venues to the coverage as a condition of use. It is a relatively inexpensive way to handle all of the unique demands being imposed. Did some of these coverages exist before under your home policy? Yes, but there was no way to add a venue as an additional insured and most venues are requiring $1 million of liability coverage. In addition, this extra coverage isolates any potential claim to a policy designed for the exposure and it prevents having to submit a loss to your homeowners or renters coverage which might impact your premium.
Questions about this? Talk to you insurance professional. Don’y have an insurance professional? Call us at 610-933-4950.