String of lights set up in a backyard as part of an event.

Event Insurance or Umbrella Insurance for Liability Coverage?

If you’ve got a big event coming up, you’re doing a lot of planning. Beyond picking out the menu and breaking out the decorations, you might be thinking about the welfare of your guests, including what might happen in an accident. That focus on liabilities might convince you to invest in insurance to help, but what kind? Today, we’re looking at event insurance and umbrella insurance for liability coverage: which is most useful under what circumstances and how they work.

Understanding Liability at Home

Homeowners insurance, auto insurance, and even renters insurance: when it comes to the risks that insurance protects against, liability generally refers to being found legally liable. A common example is when a guest injures themselves at a home party: that guest may use legal channels to compel you to cover medical costs related to the injury if they think you’re at fault. This is why most insurance policies you have – such as home insurance, car insurance, and business insurance – provide liability protections as a core component of the policy.

Want to learn more about the role of liability in insurance? Check out our blog on the matter, What is Liability? Understanding Insurance and Risk.

Event Insurance for Short-term Event Liability

If you’re looking at covering a single event—especially a big one—you might get event insurance suggested by an insurance agent. It usually contains two major parts: event cancellation coverage, which helps reimburse deposits and other fees if the event is canceled, and event liability coverage, which covers damage or injury caused by your event (and sometimes guests). Outside of your home, many third-party venues make getting event insurance a required part of your rental with them.

Umbrella Insurance for Comprehensive Liability Coverage

However, event insurance only makes sense for large events and works best when at third-party venues. For your home, especially if you’re planning on having many events throughout the year, it’s time to look at umbrella insurance for better coverage. Among its benefits are:

  • Deeper Coverage: Every policy you have, from car to home, has payout limits. Umbrella insurance extends these limits, meaning you’re covered for more expenses.
  • Improved Liability Protection: Adding umbrella insurance increases your liability protections, specifically libel, slander, and false imprisonment, giving you more legal protection.
  • Multi-Policy Umbrella: This policy doesn’t apply to just one but to multiple types of insurance, like auto, watercraft, renters, and more!

Plus, this policy costs very little each year to provide deep coverage. For improved liability protections that go deeper than event insurance, it’s hard to beat umbrella insurance.

Want to learn more about umbrella insurance and how it can help improve your existing (or new) insurance policies, especially when it comes to yearly parties, regular guests, and other guest liability situations? It’s time to reach out to Safeside Insurance. Our agents work with you to get the Right Insurance for the Right Price, customized to your unique situation. Contact us today, call us at 508-753-8862, or dive right into getting a quote.

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Safeside Insurance Agency

Office: (508) 753-8862
Fax: 508-797-3564

59 Green Street
Worcester, MA 01604

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