It takes quite a bit of time, effort, and money to plan a special event, which is why it’s important that you be prepared should something unexpected happen. According to the professional insurance agents at Alcorn Insurance Agency in Chama, NM, the best way to make sure you’re protected from incurring unforeseen costs is to purchase special event insurance.

Below, they offer answers to a few frequently asked questions about this coverage:

What Is Special Event Insurance?

Special event coverage is a type of liability insurance intended to provide event holders with protection against lawsuits due to injuries or property damages. If there is no money being exchanged for alcohol, the policy will also include host liquor liability. Many venues will require you to have this kind of coverage before agreeing to hold an event.

What Types of Events Are Covered?

Special events coverage can be purchased for a wide variety of functions, though it’s typically reserved for private celebrations. Some of the most common activities covered include weddings, birthday festivities, baby showers, and anniversary parties. Your insurance agent can tell you if other kinds of events are eligible, such as sporting competitions, dance recitals, and business functions.

Why Is Event Cancellation Coverage Important?

Cancellation coverage is offered under special events insurance. It will reimburse you for lost deposits you’ve already paid out should an unanticipated circumstance force you to cancel or postpone your event. It’s vital to carefully go over a policy to make sure you understand exactly which situations may be included or excluded.

When Should a Policy Be Purchased?

Ideally, you should buy your special events insurance as soon as you begin putting down deposits and making other purchases. You never know when something might happen, and if you wait too long, it may be too late. In addition, some companies require that a policy be purchased no later than two weeks before the event, while others require only that it be bought 24 hours in advance.

Despite your best efforts at planning the perfect function, something can always go wrong. Having special events insurance will keep you from worrying and allow you to enjoy the occasion. Contact Alcorn Insurance Agency at (575) 756-2197 to speak with an insurance agent, and visit their website to request an affordable insurance quote.