Event planning and stability during a crisis
In the world of event planning, we professionals are all too familiar with working around the inevitable curveball life throws our way. That’s why we always have every eventuality covered, even major disruptions like the COVID-19 pandemic.
One thing we absolutely never do without is event insurance. It's times like these that make it all worthwhile. Yet despite this importance, not all event organizing companies have your event covered.
Fortunately, Opulent Events by Gracie is different. We automatically include this protection when we work on an ongoing basis with our clients' events. And even for one-off events, we always educate our clients on taking out insurance and what exactly they need to look for to ensure all eventualities are covered.
When do you need insurance?
Whatever type of event you are organizing, from a corporate conference to a more intimate black-tie celebration, you need insurance, to cover everything from an accident during the event right the way through to the whole thing being canceled due to unforeseen circumstances. That being said, the responsibility of thinking about and acquiring insurance shouldn't fall entirely on you. If the event management company that you are working with is truly professional, they should either have you covered through their own insurance or at least advise you on the insurance you need. If they don’t approach the importance of insurance in your first meeting then they’re not worth hiring.
What insurance do you need?
Most people aren't aware of the myriad event insurance options available for purchase, or even what the exact function of event insurance is. Event insurance covers and protects event planners depending on the type of insurance they have.
For our current purposes, cancellation insurance is particularly critical. This protects planners in the case of unforeseen situations, like natural disasters or, as is the case now, global pandemics.
That means that many of the costs that you've already incurred will be covered by your insurance policy. Some other types of event insurance include:
- General Liability: Protects a company and all parties involved for losses due to personal injury or property damage.
- Liquor Liability: Protects against any problems that can arise from intoxication, underage drinking and the general sale, gifting, distribution or use of alcoholic beverages.
- Third-Party Damage Liability: Covers damages to a location while your company is in control of the premises.
- Hired/Non-owned Auto Liability: Provides coverage for vehicles rented for the event in the case of theft or damage.
- Worker's Compensation: Provides medical benefits and salary compensation to employees who sustain injuries while on the job.
As you can see, there are various types of event insurance for organizers. Insurance isn't just about protecting you from cancellations, but it's also about protecting you against liability due to accidents, underage drinking, etc. So crisis or no, it's an essential thing to have to avoid unexpected fees.
At Opulent Events by Gracie, we are proud to lead the event management industry, always paying close attention to the importance of insurance. You can do as much preparation as you like, some things just can't be planned for, which is why it's imperative to have insurance.
And as we mentioned above, all of our managed events are covered for our long-term clients. Additionally, for clients who don't meet this criterion, we always do our due diligence and speak with them about the importance of insurance, offering recommendations as needed.
The bottom line
We cannot stress enough the importance of working with a transparent event company, and ultimately, one that you can trust. Whatever direction you choose to go, please be scrupulous in planning your event, and make sure always to have insurance—Not only does your event depend on it, but so too does the livelihood of your business.
As event organizers we’re always prepared for the unexpected, it’s part of the job, that’s why our clients come back to work with us again and again.
With our event insurance and planning services, we've got your back. Contact us today to find out how we can make your events go off without a hitch.