Are you an event host? Or, conversely, are you going to be one? Then perhaps you have an idea of the wide range of stresses, anxieties, and damages the universe is going to throw at you right after you’ve drafted your final plan and said, “All good and perfect.”

As every experienced event host knows, an unpleasant surprise always shows up when it’s least expected. It doesn’t matter how much you’ve lost the color on your hair over planning your event perfectly: someone somewhere is going to do something badly, and it’ll all come crashing.

While we can’t put a stick in the wheels of bad luck so that it doesn’t show up to your event, we can, on the other hand, do our best to make sure that it’s going to stop by for a minute or two at most before leaving.

In case it’s not quite clear what I’m talking about, it’s insurance. Because it can be the last step between you, bankruptcy, emotional disaster, or worse – and it’s a very cheap one to take.

Why Do I Need Insurance?

Let’s explain insurance first. To put it simply, insurance is an agreement between you and an event insurance company to receive financial compensation in the event of a specified loss, damage, or illness in exchange for a premium, which is essentially the sign-up fee.

To give an example, you could suddenly get cold feet on your wedding day and realize you don’t want to get married after all. But if you cancel the wedding, then it’s very unlikely your venue is going to be able to refund your costs (that almost never happens). That means you’re several thousand (even hundred) dollars less!

On the other hand, if you purchase an insurance wedding package that also covers last-day cancellation, then a huge percentage of the amount you spent on getting the wedding set up is going to be returned to you.

The premium for purchasing an insurance package is typically a minuscule fraction out of the sum that it covers. To cite a good friend, insurance is like a blanket: you’re warm when you have it, and cold when you don’t.

Event Hosting and Legal Responsibility

If you’re the host of an upcoming event, then you should be aware of the fact that according to US law, any harm that befalls one of your guests leaves you directly legally responsible. If one of your guests slips on a wet floor and breaks one of their bones, then everything falls on your shoulders – including the medical bill.

Insurance helps protect against that. While it might not stop an impending lawsuit over an unfortunate tragedy that happened at your event, it will, however, help cover the costs of defending yourself. That, of course, includes lawyers and attorneys.

Hopefully, it won’t have to come to that.

What Does Insurance Cover?

In general, your typical insurance package covers three main areas:

• Liquor liability – Your guests can become intoxicated by too much alcohol. This type of insurance is very common with most venues that serve alcohol as they are likely to encounter a booze-related difficulty at one point in their existence.
• General liability – Bodily injury or damage is referred to as general liability. As a rule of thumb, if any harm befalls your guests, then it most likely classifies as general liability.
• Legal expenses – Paying off a team of attorneys after successfully defending yourself in court can be extraordinarily costly. You can cover most of it through a good insurance package.

In short, insurance is your best bet to recover after anything bad might intervene in your event. Otherwise, you’ll find the process to be significantly more arduous and infuriating. So don’t stress yourself out and opt for protection.

Bad Luck, or No Foresight

“Nothing bad is going to happen to me,” said everyone who has had something bad happen to them, ever. While you might be lucky and your event might go without a hitch, the probability of an unfortunate circumstance cropping up is too high to ignore.

So – maybe say hello to insurance? It has your best intentions in mind, you know.