Protect your company from party-related risks with the right insurance.

Planning a company holiday party requires a lot of time and effort.  However, in between hiring a caterer and choosing a venue, it’s important that you take a moment to secure the right commercial insurance.  This is because hosting a company party does expose your business to certain risks.  To ensure that you are protected, here are some of the commercial coverage options that you need.

  • Host Liquor Liability Insurance

If you are planning on serving alcohol at your holiday office party, then you need to secure host liquor liability insurance.  This type of coverage will protect you if a party guest drinks too much and causes property damage or injury to another party while in an intoxicated state.  If the injured party holds your company responsible for the damage, your host liquor liability insurance will cover their property repairs or medical treatment.  Additionally, if the injured party decides to sue, then your host liquor liability insurance will offer coverage for your legal fees.

  • Excess Liability Insurance

Excess liability or umbrella insurance is a good form of coverage to secure in preparation for your holiday party.  Excess liability insurance is a supplemental form of coverage designed to kick in when you have exhausted the coverage limits of your other liability policies.  Having excess liability insurance ensures that your company does not have to pay out of pocket for any damages or injuries that a partygoer might cause to another during the course of your holiday party.

  • Event Cancellation Insurance

As you plan for your holiday party, your company may be investing a lot of money to hire a caterer, reserve a venue, and purchase other supplies.  Unfortunately, if you are forced to cancel the event at the last minute, then you would likely lose all the money you put into the event.  With event cancellation insurance, you can use your coverage to pay for the losses you would incur if your holiday party has to be canceled at the last minute due to circumstances beyond your control.

Make sure you have this commercial insurance in place for your holiday party.  Do you have more questions about your business insurance?  If so, then contact the experts at Scautub Insurance Agency in Scotia, New York.  Our dedicated team is eager to assist you with all your coverage needs today.