As a host, you should be prepared for all eventualities.
The festive season is here! Cheers to the holidays, spending time with loved ones, office parties, and plenty of rum punch. If you’re planning on hosting a party or two this season, even if that just means having a few loved ones over to celebrate, you should review your insurance coverage.
As a business, hosting a holiday is a great way to celebrate the year’s achievements and show your appreciation to your team members. But before you kick off the festivities, first review your current insurance policies. Within your general liability insurance, you should have liquor liability insurance. This will help if anyone indulges at your party and then causes an accident or injury. It’s also worth discussing the event with your insurer as they may suggest you supplement your coverage or hold the party off-site to minimize your risks.
Hosting a holiday in the home can make for a festive and cozy evening. Whatever the size of your guest list, it’s important that you consider your liability risks. Similarly to business owners, you could be held responsible if an intoxicated guest causes an accident or injury. You should have plenty of liability insurance in case the worst happens, but you should add an umbrella policy for better protection.
Depending on the size and risk factors of your party, securing special event insurance may benefit you. This is one-day coverage that protects you from liability, cancellations, and more. It’s also worth thinking about hiring a professional bartender who has experience in handling intoxicated guests.