Organizing events have become highly professional tasks today. There are a lot of things at stake that makes it necessary for most to hire the services of event managers. However, if the event is a musical one, preparation and risk involved multiple. That's because organizing a musical event means putting together numerous things under the same roof. You not only have to get musicians but also ensure that their numerous musical instruments are transported in one piece, used properly and sent back as they came.
While all this may sound easy, the task is arduous and full of risks. That's why most event organizers make it a point to purchase event liability insurance. This is one of the popular insurance policies that protect event management companies as well as musicians in case there is property damage, bodily damage or destruction of instruments during an event. The reason why event managers purchase liability insurance is because everyone who are directly or indirectly involved with the event get covered under the insurance.
Importance of Event Liability Insurance
Let's take a look at some of the reasons why this kind of insurance is popular in the music industry, among event managers and a lot of other stakeholders.
Musical Instrument Protection – It is very often seen that in large scale events, musicians are encouraged to bring in numerous instruments. While some of these may get easily replaced, there can be many others which are hard to replace. Though many musicians prefer to purchase separate insurance for their instruments, an overall protection during an event is seen as an additional protective layer. Thus, even if you have purchased bassoon insurance, you can enjoy the benefits of liability insurance.
Easy Claims - One of the reasons why event managers and musicians buy liability insurance is because claiming insurance money has become very easy. For example, a musician can claim money from the insurance company in case he arrives for an event and it gets cancelled. Though the event didn't take place, the musician can claim money for all the hassles he had to go through, like putting the entire act together, getting all the musicians in one place and transporting the instruments to the event location.
Third-Party Damage Insurance – Till now we have only highlighted how liability insurance protects musicians. Let's not stress on how event managers can benefit from such insurance. The event managers canclaim insurance money if due to some untoward incident there were huge property damages.
Workers' Compensation – Event liability insurance also safeguards all workers associated in putting the event together. If during the event, they get bodily injured and have to seek medical help, they too can ask the event managers to seek claim from the insurance company.
Considering the fact that today everyone is aware of their rights, no one hesitates to sue an event management company in case of an accident. Event management companies have to be prepared for such eventualities and protect themselves and every employee working for them. It is also their duty to protect the musicians.Insurance today is thus a necessary obligation.