When you think of insurance, you mostly think of car, life or medical insurance. That is not the end of the insurance types available in the market. One such segment that is unaware of insurance available for them would be the musicians. They understand the liabilities that they deal with; however, they don’t understand the need nor do they know about the existence of a wide range of custom and pre-defined insurance solutions available for them.
Musicians are known to have a lot of events, and the organizers are under immense pressure during these events. For the event to be successful, all aspects of the event should be considered, and they should be protected.
Event liability insurance helps the organizers and vendors of these events heave a sigh of relief, as it not only protects the assets but also reduces the liabilities involved.
Here we will take you through the top reasons why you should insure your music events.
The accidents that occur
It is not the first time that you are hearing about accidents that occur when you are holding an event. A lot of events end in mishaps owing to natural or man-made disasters. An event insurance policy will help you against these mishaps, and will prevent you from facing the losses that comes with it.
Damage to the property
Imagine what will happen when someone gatecrashes your event, and breaks everything they can get hold of. You will start looking into your pockets for money to pay for this damage. The property damage is more expensive when compared to the other types of damage that occurs in the events. The cost of repairs can put a hole in your pockets. With the right insurance, you will get money for the repairs. This means, you just need to stress on a lost event.
Care & control liability
This is yet another factor that most people tend to ignore. When you are renting out your event on someone else’s property, the care for the property becomes your headache. A small mistake by the crowd can cause damage to the belongings of the owner, which can irk them. This can become a liability for you, which needs to be paid off from your pockets. To avoid this, you should take the insurance that protects the assets and controls the liabilities involved.
Protects from liquor problems
An event involving liquor can be a problem. If your audience misbehaves after consuming the liquor and someone sues you for the same, the liquor clause in your insurance can help you. If someone destroys the property because they are drunk, you can pay for the repairs and other liabilities with the insurance money.
People protection
When the bands play for you, there is a certain liability involved. If they don’t show up or owing to some issues at the premises, they are unable to play, you have the costs covered by the insurance. If one or more of the band members get hurt, you can cover their medical expenses with the event liability insurance.