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Charter School Insurance: When Should You Consider Purchasing a Special Event Policy?

By May 23, 2022Insurance
If your charter school is hosting a special fundraising event, you may want to consider purchasing a Special Event Policy.
A Special Event Policy is designed to offer coverage when your school is hosting or sponsoring an event that involves activities different from usual school activities. This type of insurance can be customized to fit the needs for your event.  
Maybe your event will offer alcoholic beverages to your guests, either to purchase or included in the ticket price. If so, you may need coverage for host liquor liability. In addition, the venue you will be using could require insurance for potential property damage to the premises you are renting.
One of our partners, Selective Insurance, provides a great example of how a special event policy can protect you:
A regional association for developmentally disabled individuals was hosting a music festival as a fundraiser. A popular band donated a performance, but required the association to insure its equipment while at the venue. A pavilion tent and chairs were also rented for the event.
During the event, a flash flood hit the venue, destroying the band’s sound system, instruments, and several networked computers. The tent and chairs were also heavily damaged. The cost to replace the instruments was $18,000, the cost to replace the tent and chairs was $14,000, and the cost for new computers and software for the sound system was $6,000… for a grand total of $38,000!
Because the association had purchased insurance prior to the event, Selective Insurance covered all replacement costs.
How do you know if you need Special Event Insurance for your next event? Just contact us and we will be happy to help you determine if the coverage you have is sufficient or if you need additional coverage.
If you have any questions, we are here to help! Email us today at or visit our School Insurance page for more information.