Florida Wedding And Special Event Insurance Policy Information
Florida Wedding And Special Event Insurance. Weddings, baby and bridal showers, baptisms, bar and bat mitzvahs, sporting events; life offers so many wonderful opportunities to celebrate! If you're planning on hosting a special event to commemorate a memorable moment, you want to ensure that everything goes as smoothly as possible.
While you've made sure that you've chosen the best venue, suppliers, and providers, and you've crossed all your T's and dotted all of your I's, you never know when something unexpected could occur and derail your plans.
How can you protect yourself from the unexpected? Invest in an entertainers and performers insurance Florida policy. What is wedding and special event insurance? Why should you have it? Read on to find the answers to these questions and more so you can make sure that you're properly prepared for whatever life throws your way.
Florida wedding and special event insurance protects protects event holders from third-party lawsuits (and is often required by venues) - with rates under $59 per event. Get a fast quote and your certificate of insurance now.
What Is Wedding And Special Event Insurance?
Also known as "one-day" event insurance, spectator liability, or commercial general liability insurance, Florida wedding and special event insurance is a policy that is designed to protect you from financial losses for special occasions.
Wedding and special event insurance can cover your costs in case you unexpectedly need to cancel, pay for medical expenses if a guest is injured, or if you're found responsible for property damage or injuries that occur during the event.
In addition to weddings, examples of special occasions and one-day events include:
- Anniversary parties
- Athletic / Sporting Events
- Award Ceremonies
- Baby Showers
- Bar or Bat Mitzvah
- Birthday parties
- Charity Functions
- Community events
- Company Parties
- Concerts & Music Events
- Conventions & Meetings
- Corporate Hospitality
- Employee Incentive Trips
- Fairs & Festivals
- Fashion Shows
- Housewarming parties
- Major Sporting events
- Memorial services
- Motorsport events
- Product Launches
- Retirement parties
- Special events
- Trade Shows & Exhibitions
- Theatre Productions
- and many more...
Essentially, anything that involves a gather of people for the intended purpose of celebrating something is considered a special event.
In the event that something unexpected arises that requires the cancellation of the FL event, or if you it's determined that the property where the event was held is damaged or someone who attended the event is injured, special event insurance covers the cost of any expenses that you are responsible for.
You can also add additional coverage to a special event insurance policy to cover specific items; food, clothing, audio-visual equipment, accessories, and more.
Do You Need Insurance For Your Wedding Or Special Event?
It depends, but most venues will require you to purchase general liability insurance for your event to protect you and them in case someone gets hurt or the property is damaged. You might even be at risk of losing your venue reservation if you don't provide proof of insurance.
To find out if you need to invest in special event insurance, make sure you consult with the owner and operator of the venue where you are holding your event.
You may also be asked to add the venue or facility to the Florida wedding and special event insurance policy as an insured entity. The vendor or facility would be known as "Additional Insured" on your policy.
If you do require this type of policy, your point of contact must let you know. Additionally, they must let you know how much coverage you require.
If special event insurance is needed, it's important to note that you may need to provide your vendor with a certificate of insurance. In other words, you'll need to provide proof that you have purchased a liability insurance policy.
What Does Wedding And Special Event Insurance Cover?
The coverage this type of insurance provides varies. Most policies offer liability coverage, meaning that they protect you from having to pay for any damages that may occur within the facility or venue as a result of your special event, as well as any medical care that may be required if someone sustains an injury at your event.
It canmight also protect you from any financial losses in the event of an unexpected cancellation for circumstances out of your control such as:
- Any other previously unforeseen cause not excluded
- Damage to leased or rented venues
- Damage to surrounding venues or infrastructure resulting in lack of access
- Failure of TV broadcast
- Failure of public transport facilities or denial of access
- Inability to erect facilities at venue
- Labor Dispute/Strike risks
- Natural catastrophe such as earthquake and flood
- Non-appearance of key speakers, performers, or personnel due to death, injury, or illness
- Power failure
- Satellite and signal transmission failure
- Spread of communicable diseases (COVID-19 Coronavirus currently excluded)
- War, terrorism, sabotage, and civil or political unrest
- Weather and environment related perils such as rain, snow, wind, and earthquakes
Depending on the policy and the insurance provider you are working with, you may be able to add additional coverage to your wedding or special event policy. Following are some examples of additional coverage endorsements (which have titles that will vary among companies) are often offered as optional wedding coverages:
- Ancillary Activities: Typically, a basic wedding policy only covers the location of the wedding ceremony. This optional coverage extends protection to ancillary (related) events that are held at different locations. Most commonly the coverage is for the sites of rehearsal dinners, receptions, bridal showers/engagement parties and bachelor parties, but could also extend to something more unusual such as a separate photo studio session.
- Cake and Flowers: This optional coverage will reimburse the insured/honoree for expenses related to the loss, damage or destruction of the wedding cake, flowers and sometime other decorations. The typical coverage period is for the day of the event and the immediately preceding 24 hours. Covered locations include the home of the bride, groom, either party's parents, or the reception site. Coverage is effective during transit between these locations. Exclusions - Typical noncovered situations are losses that occur after the end of the event, transit losses when the property was not properly packed and/or secured and theft losses when the property is unattended.
- Call to Duty/Active Service: This optional coverage will reimburse the insured/honoree for certain expenses if the wedding is postponed or cancelled because the bride or groom is, suddenly, required to report for military duty. The coverage also applies if the event was planned during a scheduled military leave and the leave is revoked or cut short. Note: It is not unusual to have this eventuality covered under a basic wedding or event policy.
- Documents: This option responds to loss of wedding (or special event) related records or documents that occurs, typically, within 24 hours before, the day of, and 24 hours after event. It only applies to such property that is in the care or custody of key event (wedding party) participants. The insurer reserves the option of reimbursing the loss or replacing the items.
- Jewelry Rider: This option provides separate, comprehensive coverage for engagement and wedding rings, as well as accessory jewelry that is acquired specifically for the wedding (anything from bracelets, anklets or even tiaras). Naturally, pricing depends upon the documented value of the jewelry (bills of sales or, for older items, current appraisals). Coverage may be only for the bride and groom's jewelry. In some policies this coverage may be extended to cover borrowed or rented jewelry while on other policies such borrowed or rented jewelry may be covered only under a separate option, sometimes called "Special Jewelry" protection.
- Liquor Liability: Responds to allegations that the applicable insured/host of the wedding or reception is responsible for a loss due to his or her providing alcoholic beverages. This option is for instances where alcoholic beverages are sold, such as a reception that includes a cash bar or a cover charge.
- Marquee Cover: Provides coverage for a wedding and/or reception that is held in a marquee. A marquee is a larger, elaborate tent that is suitable for parties and which may include hard floors and luxury furnishings.
- Pregnancy Cover: Extends the wedding insurance policy to include cancellation or postponement due to the bride's pregnancy, but coverage usually terminates after a maximum number of weeks into the term, such as 28 weeks.
- Professional Counseling: This coverage is subject to the deductible appearing on the form. It responds to the expense faced by a former honoree to receive professional help to deal with the cancellation of the wedding. Note: The need for counseling needs to be determined and recommended by a licensed physician.
- Stationery: This option responds to loss of wedding (or special event) related stationery that occurs, typically, within 30 days of the covered event. Exclusions - Typical noncovered situations are losses that occur after the end of the event, transit losses when the property was not properly packed and/or secured and theft losses when the property is unattended.
- Weather Conditions: Wedding policies cover wedding postponements or cancellations that are caused by extreme weather conditions such as flooding, earthquakes, blizzards, hurricanes, etc. Routine weather activity is usually excluded. However, if the event is particularly expensive and weather is a major concern, optional coverage may be available, but usually for a very specific cause. Coverage and rates will be highly dependent upon available forecasts for the date of the event and the rider may be written for a coverage period of only a few hours.
- Wedding Liability: Many companies that offer wedding insurance may have basic policies that only cover first party losses suffered by the insured or honoree. In those instances, optional coverage is usually available to cover losses or lawsuits involving third parties (typically wedding guests/reception attendees) who suffer bodily injury or property damage and allege that the hosts are responsible./li>
The amount of coverage you will need to carry depends on what the facility or venue where you are hosting your event requires.
Florida Wedding And Special Event Insurance - The Bottom Line
To learn more about FL wedding and special event insurance, speak to reputable broker that specializes in commercial insurance.
Florida Economic Data And Commercial Insurance Requirements
If you are thinking about starting up a business in the state of Florida, it's important to understand the economic standing of the state before you set up shop. Furthermore, you should understand the rules and regulations regarding FL commercial insurance.
With this information, you will be able to determine if Florida is the right place for your business, and if so, what type of insurance you will need to carry to protect yourself, your employees, and the people that you serve.
Economic Trends For Businesses In FL
Florida is known as the sunshine state, and the economic outlook for this state is just as bright as the weather. It is estimated that the economy in Florida will reach $1 trillion by the end of the 2021 calendar year. However, while financially, the economy is expected to boom, it is forecasted that job growth will decline.
The reason for the economic boom? While businesses do certainly contribute to the economy, industry isn't the reason why Florida's economy is expected to soar; the residents that move to the state are largely responsible for its economic growth. Approximately 898 people move to Florida every day, and those new residents bring a tremendous amount of income for the state.
In terms of job growth, the rate of new jobs has been its highest since 2007; however, it is forecasted to slow during 2018. Approximately 180,000 new jobs will be added in 2018, which is slightly less than the new jobs that were added in 2017.
The industries that contribute the most to Florida's economy include:
- Aviation & Aerospace
- Financial Services
- International Trade
- Life Sciences
Commercial Insurance: Regulations & Limits In Florida
The Florida Office of Insurance Regulation regulates insurance in FL. The only type of coverage that business owners must carry is workers' compensation. Organizations in any industry must carry this type of coverage if they employ a staff of hourly or salaried workers. But, organizations that employ three or less people are not legally required to carry this type of coverage.
Business owners are also required to carry commercial auto insurance if they use any vehicles for their operations, such as making deliveries or transporting goods. Commercial liability insurance is another type of coverage that Florida business owners should consider carrying, though they are not legally required to have this type of insurance.
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
Commercial insurance policies for arts, entertainment and recreation are specialized policies that protect against the unique risks that arts and recreation businesses face.
Performing artists and companies, entertainers including musical groups, theatre groups, comedians and more, writers, performers, photographers, videographers, DJ's and so many other types.
Professional liability coverage (errors and omissions) is needed in these cases to protect their financial interests due to mistakes, errors or omissions by these professionals in doing their jobs. Fr example - a bride and groom did not like the way their wedding photos turned out.
Or a wedding planner might plan a lavish wedding, but the bride's parents who are paying for it did not like the way it went. There is a lot of gray areas with arts, and you need to be protected if your clients don't agree with you that your work was what the agreed to.
If your business is involved with children, you need to review your coverages very carefully so certain important protections are not excluded. Abuse and molestation insurance might be needed to fully protect yourself in this instance.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
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