It’s that time of year where the weather gives momentum to hosting a summer party. It’s clear that inviting guests to your home leaves you responsible for their safety, so being certain you have ample Liability & Excess Liability is a necessity.
At your home:
While your liability coverage in your policy technically covers host liquor liability while at your home, transferring the risk to an event insurance policy when hosting a large number of people is both inexpensive ($200-$1000), and can prevent against increased premiums from your homeowners insurance company should a claim arise.
At a venue:
While the venue most likely has their own insurance, should any injury arise it is more than likely that you as the “host” would be named in any suit. To safeguard against this, event insurance at a venue has host liquor, cancellation/postponement coverage, and even up to $300,000 in property damage. The policy covers event cancellation / postponement for specified reasons and losses such as no-show vendors, bankruptcy of vendors, damage to event attire, theft of event gifts and more.
These policies are tailored to large parties where you may be inviting people you as the host do not know very well, as opposed to smaller more intimate gatherings. It’s an inexpensive buffer in protecting against the potential risks.