As a business owner who is aware that the holidays are right around the corner, it is likely that you will begin to send out invitations to more and more parties, fairs, and festivals! It can be incredibly beneficial to use the cheer of the holiday season to expand your business! However, are you aware of just how important your business insurance is during these big get-togethers?
Any time you invite numerous people to take part in a gathering that is hosted by your business, you should be worried about your liability. If you are planning an event, your first action should be to consult your general liability insurance carrier. At this time, you should inquire as to whether or not the event would be covered under your policy. If it is not, you should look into purchasing a one-time special event insurance policy.
If you choose to host a party that will include alcohol, you must make sure to have host liquor liability. The chance for injury increases drastically when alcohol is involved, so a separate form of coverage is necessary. Depending on the size of the party, you can always add excess liability coverage. If you plan to have your party in the same space that you run your business, you may want to understand the limit on your business property coverage. If someone were to knock over an expensive piece of equipment during the party, you would only be reimbursed if the limit on your coverage were high enough.
If you would like further information regarding how your insurance will protect you during holiday get-togethers, please contact the professionals at Insurance & Mortgage Services, located in Batavia! We have a combined 16 years of experience in the mortgage and insurance industries. Give us a call, today!