Top Coverages for Event Vendors Recommended by Insuranks
Insuranks has published a recommendation for best coverages for event vendors.
PALO ALTO, Calif., February 22, 2023 (Newswire.com) - On a recent announcement, digital insurance comparison and marketplace website Insuranks has outlined its top insurance coverage recommendations for event vendors.
The number one and most basic recommendation is one-day event liability insurance, which is a short-term general liability. General liability insurance will cover event vendors from claims of property damage or bodily injury that were caused by the business' products, services or operation. This basic coverage will make sure they don't end up in debt due to such claims. The average one-day event liability insurance cost is $80.
The next coverage recommendation for event vendors is errors and omissions (E&O) insurance. This type of coverage protects one-day event vendors from being financially liable for errors and mistakes that occur throughout their business. Errors and Omissions insurance cost is $98 per month, or $1,176 annually, on average.
The coverage that is closing the top three insurance coverage recommendations for event vendors is surprisingly a form of commercial auto insurance, or more accurately, box truck insurance, since event vendors are usually using them to bring in their goods, equipment and products to an event, and may get into financial trouble without sufficient coverage.
For more information about event and vendor insurance, visit https://www.insuranks.com.