The Damage Waiver covers wind and storm damage to tents and accidental damage to other rental products except excessive damage. In consideration of a damage waiver payment, the Lessor assumes risk of damage to Rental Items as outlined, except the following risks assumed by the Lessee: (a) Excessive damage; (b) loss, damage, vandalism, malicious mischief, and theft; (c) loss, damage or theft of accessory items such as extension cords, etc.; (d) loss due to disappearance or wrongful conversion by a person entrusted with Rental Items; (e) damage during transportation of equipment by Lessee. The Damage waiver is null and void if damage is caused by a third party not associated or related to Lessee. In that instance the Lessor reserves the right to collect from person or company causing damage. THE LESSEE UNDERSTANDS THAT THE DAMAGE WAIVER IS NOT INSURANCE. THE LESSEE IS OBLIGATED TO SUBMIT TO THE LESSOR A POLICE REPORT ON ALL LOSSES COVERED UNDER THE DAMAGE WAIVER. The Lessee may decline the damage waiver charge by providing a Certificate Of Insurance (COI) adding Lessor as a Primary/Non-Contributory Additional Insured Lessor on the General Liability policy and Loss Payee on Leased/Rented Equipment with a limit no less than the replacement value of the equipment they are renting
Optional Temporary Event Insurance
Some of the most memorable moments in our lifetimes are of special events like weddings, family reunions, and holiday parties. But while it’s easy to get caught up in the excitement of planning an event, every host should be aware of the risks that can make your special day memorable in all the wrong ways.
Not everyone realizes the amount of liability they carry if someone is hurt or property is damaged at an event they host. In fact, 42 states have enacted social host liability laws that allow party hosts to be sued if a guest drives under the influence and causes an accident. To mitigate this risk, most venues require you to purchase event insurance that covers a minimum amount of liability.
Even if event insurance isn’t required for your upcoming gathering, an insurance policy may be worth its low cost to protect your assets from potential lawsuits. Thankfully, there are many great event insurers to choose from with affordable coverage to fit the size and scope of any gathering.
What Is Temporary Event Insurance?
Temporary event insurance is a broad type of insurance that can include several types of coverage designed to protect event hosts. The most common type of event insurance is general liability, which covers lawsuits related to bodily injury or property damage resulting from your event. Many policies also include host liquor liability coverage, which protects you if a guest is overserved and causes injury or damage. Another popular form of event insurance is cancellation coverage, which helps recoup lost deposits and other costs if a major event such as a wedding needs to be cancelled due to circumstances out of your control.
Why should I get Temporary Event Insurance?
Event insurance is required by most venues as well as some other event vendors , so you may not have a choice if you’ll be booking a space for the day. However, you should still consider event insurance if it’s not required or if you’re hosting the event at your private residence. While many homeowners insurance policies include a certain amount of liability coverage, limits aren’t usually sufficient for large gatherings. Talk to your home insurer before planning an event to see what is and isn’t covered and identify areas that might need supplemental insurance.
How much does Temporary Event Insurance cost?
According to the companies we have reviewed, event insurance usually starts around $50 but your premium will depend on the event location, number of guests, whether alcohol is being served, and which types of coverage are included. Make sure to get multiple quotes when shopping for event insurance and compare not just pricing but also the exclusions listed in each policy.