Once you’ve decided on the venue, catering, and décor for your special event, you still have one more detail to manage - purchasing event liability insurance. This kind of coverage is required by venues for gatherings of all sizes in order to ensure financial protection in case of a lawsuit, property damage, or injury. In order to provide you with an accurate quote, carriers will prompt you to supply information on the type of event you’re hosting and the specifics of the planned festivities. To prepare you for this process, we at One Day Event created a list of the features and elements that typically affect the price.
1: Type of Policy 
There are two main types of policies you’ll encounter when shopping for event liability insurance - claims-made and occurrence. A claims-made policy will only cover you for claims that occurred and were reported within the given window when the policy was in effect. An occurrence policy, in contrast, covers claims reported during an extended coverage period, regardless of when the incident was reported.
You will see a difference in rate depending on whether an insurance company is selling you a claims-made or occurrence policy. Claims-made policies are often less expensive, however, you run the risk of full liability if you do not file your claim within a narrow timeframe. Occurrence policies may cost more than claims-made policies because they expand your window of coverage so that you don’t have the same limit on when the claim must be reported.
Most claims at events occur months past the actual event date, which is why it is important to get an occurrence policy whenever you have the choice.
2: Number of attendees 
The cost of special event insurance varies depending on whether you’re hosting a small get-together or a heavily attended gathering. If you’re putting together a large sporting event, concert, or festival, the price of your policy will increase based on the increased risk due to high attendance. Each carrier has different parameters for what size necessitates certain levels of coverage, so it’s important to compare insurance carriers to ensure you’re getting the most cost-effective deal.
3: Length of event 
As with the number of attendees, event liability cost can be affected by the length of the event. Coverage for one day events (i.e. weddings, 5k runs, birthdays) will be less expensive than for weekend or week-long events (i.e. festivals, retreats). Communicate with your venue to understand coverage expectations and compare rates prior to purchasing.
4: Type of event 
In the same way that a red, flashy car attracts higher auto insurance premiums, certain types of events cost more to insure based on potential risk. Features of these events may include:
- Risk for physical injury (i.e. sporting events)
- Handling of hazardous materials (i.e. fireworks or inflatables)
- High energy crowds (i.e. metal or rap concerts)
- Outdoor activities (i.e. camping retreats)
Depending on the activities your event includes and the level of risk involved, carriers may increase the coverage and policy price to ensure you and your venue are protected in the event of an incident.
5: Additions to the policy 
A standard one day event insurance policy protects you against lawsuits and venue damages. Depending on the type of event you’re hosting, it may be important to bundle policies or add additional coverages to ensure comprehensive protection. Important additions include:
- Host liquor liability: to cover you if damages are caused by an intoxicated guest at an event where alcohol is being consumed
- Waiver of Subrogation: This prevents an insurer from recovering any money paid on a claim from a negligent third party. Venues often require their hosts to get this addition
- Primary/Non-contributory Wording: This makes your policy the primary policy in case of any claims
- Non-owned/Hired Auto Liability: This covers any hired or non-owned automobiles that may be used at the event
- Higher limits: to increase the total dollar amount that you are covered for in the event that multiple claims are filed against you
These add-ons will increase the total price of your policy because they may provide you with a wider safety net and greater financial protection. Communicate with your venue and carrier representatives to determine what additions may be necessary to safeguard your event.
How can One Day Event help? 
The common thread between the event and policy features that affect price is that the resultant rates differ between all insurance carriers. This presents a challenge to the event host who may not have the time, knowledge, or resources to price compare and find the right policy for their event.
One Day Event is the simple solution. We are a broker that compares rates from the top insurance carriers to provide you with the best, most cost-efficient options available to you. We utilize an intuitive quote generator to instantly give you multiple quote options from carriers that align with your needs. We’re affiliated with only A.M. Best A++ rated insurance companies with excellent customer service and a reputation for fully assisting with customer claims. We only recommend high quality occurrence policies, all of which are zero deductible.
Our friendly customer service team is ready to offer their expertise for any questions you may have, and our Claims Advocacy Team will guide you through the claims process if damages are incurred. We at One Day Event value our customers' time- let us do the policy shopping for you and provide you with all the resources you need to be successful. We look forward to working with you!