Q: Our nonprofit is organizing a 5k event. I know we need $1 million in General Liability coverage. What other insurance do we need?
(From David B., Teen Leadership Project)
A: You may want to consider Special Event Insurance.
In short, Special Event Insurance can offer protection for liabilities and claims that might occur at your event, including…
Some things to note: this policy may offer coverage for volunteers and employees as well as participants and guests. Be sure that the policy also covers the setup and takedown periods surrounding the event, as injuries are just as likely to occur at these times.
It’s a good idea to discuss the specific details of the event with your insurance agent. That way you make sure you have coverage that fits your needs. Not every Special Event Insurance policy is the same, after all.
You may be able to buy insurance for a specific event, but if you plan on holding multiple events throughout the year, you may consider adding Special Event Insurance to another policy, such as General Liability Insurance.
Lastly, leave as much time as possible between when you apply for coverage and when you need it. Events that have an athletic component (such as a 5k race) are sometimes more difficult to find coverage for than those that do not.