risk management: tip of the week

Special Event Insurance

Whether you are planning a lien sale, open house, charitable event, carnival, picnic, holiday party, or other type of event, the goal is to encourage people to visit your property. Hosting events is an excellent way to market your self-storage facility to the public, network with prospective customers, and spread some goodwill within the local community. Keep in mind that these types of events can increase the risk of exposure to your business.

If you hold a special event off your premises, consider a special event insurance policy. Many companies offer property and liability coverage for special events. These policies may address third-party property claims, host liquor liability, personal injury claims, and other event-day disasters that may occur related to the special event.

Special event insurance policies typically are relatively inexpensive and many can be purchased the same day. This coverage benefits you by addressing the exposures of the event without putting your BOP coverage at risk. Your insurance agent will help you identify a policy that will address potential exposures for your specific event.

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Mike Schofield

Mike Schofield
President & CEO

Member ARAN Insurance Services Group

10851 N. Black Canyon Highway, Suite 200, Phoenix, AZ 85029