Insurance for College and University Special Events

Higher education institutions are often involved in hosting large gatherings and special events. While these occasions can be exciting, memorable and rewarding, they may also include significant risks and exposures. Planning, organizing and hosting these events requires substantial time and financial resources. With that in mind, colleges and universities should be familiar with special event insurance. 

What Is Special Event Insurance? 
As its name suggests, special event insurance provides financial protection for your school’s events. These policies can help insulate you from losses and damages arising from common incidents that may affect your plans or occur at your event. Special event insurance can be acquired for many occasions, including the following: 

• Ceremonies (e.g., graduation)
• Sporting events
• Reunions
• Award presentations
• Parties
• Festivals
• Banquets 

• Bodily injury—If a guest or other third party at your event is injured, your insurance can help pay for resulting medical costs, lost income and legal expenses.
• Property damage—This coverage can help pay to repair or replace the property of third parties, such as guests or the event’s venue, if losses are accrued during your event.
• Unexpected changes—This coverage may provide financial assistance for rescheduling fees and lost deposits if you are forced to alter or cancel your event.
• Personal property damage—This coverage can help pay for losses and damages involving specific possessions, including formal garments, jewelry, gifts and photographs. 

• Type of event
• Duration of event
• Venue details (e.g., location, size)
• Estimated number of attendees
• Policy details (e.g., types of coverage, policy limits)