Arranging insurance should not be something that takes a lot of time, when you are planning your event or stall you should be able to spot the things that might make you worry. Keeping insurance in mind when you are planning will help you explain to your broker or insurer exactly what you might need. Remember arranging insurance is about getting the right cover in the first place.
Some things that are in your event or on your stall you might decide not to cover, the most important choices in deciding what to cover is if the worst should happen, can I pay for this myself?
So let’s take a couple of paragraphs to look at the risks you might be taking, the most important ones are those that have the biggest payouts. So looking after people should be at the top of your list, these people might be customers at your stall or visitors to your event, they could also be people who work with you, please do not forget that this would include volunteers and helpers as well as those you might pay.
On many occasions I have been told by customers that, they are my best friend or neighbour so, they would not want to be covered. In cases like these I would ask you to consider the conversation you might have if, as a result of being a great friend or amazing neighbour something happened that would make their lives very difficult and you could not afford to help them, worst still if this happened and it was not actually your fault but someone else’s. Insurance companies are there to help sort out things like these, so you don’t have to.
Other things you might want to consider are what would be the cost to you or your committee if the event had to be cancelled and you have to pay costs to the owners of the site or suppliers of equipment? This type of cover can be included in your conversation with your broker or insurer.
Next on your list might be protecting the equipment you might need, this may belong to you or you could hire it in. Your stock may be difficult or time consuming to replace, if anything happened to it either at the event or when you are taking it there or bringing it home you can arrange for this to be covered.
One final word of caution, insurers will expect you to take all reasonable precautions to prevent claims from happening, so please take the time to plan your event or stall carefully to protect yourself and those around you. Paying low premiums is one thing, but if that has been at the expense of not looking at the things that might go wrong, then you really could be wasting your time and money. The vast majority of us in the insurance industry are there to support you, it could be one of the best fifteen minute conversations you ever have.
I hope you have found this helpful, all that now remains is to wish you every success with your events or stalls, after all some of the biggest high street names started from a place similar to the one you are planning.
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