Review Your Commercial Insurance Before Your Holiday Party

Securing the right insurance for your company holiday party.

Are you planning on hosting a holiday party for your staff?  If so, then you have a lot on your plate.  Between hiring a caterer and selecting a venue, make sure that you take a moment to review your commercial insurance policies.  This is because hosting a party can expose your company to certain risks.  To protect your business, make sure you have the following coverages in place.

  • 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.  While the injured party may hold your company responsible for the damage, your host liquor liability insurance would ensure that their property repairs or medical treatment are covered.  Additionally, if the injured party decides to sue, then your host liquor liability insurance would 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.

  • Commercial Property Insurance

If you are hosting the holiday party on your business’s property, then you face the risk of property damage.  Not only can partygoers cause damage to expensive equipment, supplies, or other commercial property, but the use of decorations, such as candles, can also increase your risk for fire.  To ensure that you have enough commercial property coverage to address your party risk, review your policy, and speak to your insurance provider about increasing your coverage limits.

These are some of the essential coverages that you need to protect your business from holiday party risks.  Do you have more questions about your commercial insurance?  If so, then contact the experts at Duane Weber Insurance, Inc. in Kent, Washington for assistance today.