Venue Insurance Policy

HBMTN · Jul 7, 2014

Anyone ever had a venue ask you to take out an additional insurance policy naming them as protected beneficiary for $1,000,000/$2,000,000 even though I already have that amount of liability coverage on my business? I checked and it is going to cost $75 for a "Event" policy. Luckily my contract says any fees or charges incurred by a venue will be passed to the client. So I called the client and now the venue is heehawing about it and says they will pay it :crazy: First time I've run in to anything like this, is this normal in some places? I should add this is a new venue in the area and the owners recently moved here from somewhere else.

TailGateJoecom · Jul 8, 2014

HBMTN said:
Anyone ever had a venue ask you to take out an additional insurance policy naming them as protected beneficiary for $1,000,000/$2,000,000 even though I already have that amount of liability coverage on my business? I checked and it is going to cost $75 for a "Event" policy. Luckily my contract says any fees or charges incurred by a venue will be passed to the client. So I called the client and now the venue is heehawing about it and says they will pay it :crazy: First time I've run in to anything like this, is this normal in some places? I should add this is a new venue in the area and the owners recently moved here from somewhere else.

You should be able to name them an additional beneficiary on your policy which should be good enough.

HBMTN · Jul 8, 2014

TailGateJoecom said:
You should be able to name them an additional beneficiary on your policy which should be good enough.

That is a what the venue is saying but NationWide is telling me it will cost $130 for the one day.

landarc · Jul 8, 2014

It is becoming more common out here, for any venue that has a municipality or other government agency involved to ask for this. Also, larger corporations have been asking for similar things, for events they are sponsoring.

In my real world life as a landscape architect, this type of clause has nearly forced me out of business. Very frustrating.

sunrise · Jul 9, 2014

Happened twice so far this year. 1 was a farmers market we were considering, and the other is a city owned pool & park area. I have a third coming up soon at a golf course, all 3 wanted to be named on the insurance policy. My company charges $ 50.00 for a 1 day endorsement. Sucks, but in today's world, what can you do, and I need the work.

TailGateJoecom · Jul 9, 2014

HBMTN said:
That is a what the venue is saying but NationWide is telling me it will cost $130 for the one day.

Hmm, if you aren't a restaurant but just a caterer, someone posted a link the other day in another insurance thread for www.fliprogram.com/ which allows you to easily add additional insured for free right online and print the certificate immediately. Haven't done any research on them, but from the site info it seems like a pretty good program. But I know a lot less about this stuff than BBQ so fwiw, lol.

IamMadMan · Jul 9, 2014

They are not asking for a separate insurance policy, they only want to make sure the plaintiff can't sue them for incidents that should be covered by your policy. This clearly defines the scope of your liability for all parties for general liability, damage to premises, products, operations, personal injury.

Just ask your current insurance company for a "rider" to your current policy. Here they cost $25.00 and name the additional insured only for the specified date, time, and location. If you know the sponsors, dates, locations, and times when you renew your policy you can have them written into the policy with no additional charges.

This is standard policy for large functions and functions on government properties, schools, ect to thwart liabilities on them that may be caused by your presence at the location. Most policies only cover you at the specified address (IE: restaurant), or on your vending truck / trailer.

bizznessman · Jul 9, 2014

landarc said:
It is becoming more common out here, for any venue that has a municipality or other government agency involved to ask for this. Also, larger corporations have been asking for similar things, for events they are sponsoring.

In my real world life as a landscape architect, this type of clause has nearly forced me out of business. Very frustrating.

Now I understand where your "handle" comes from (landarc). :-D

txschutte · Jul 9, 2014

bizznessman said:
Now I understand where your "handle" comes from (landarc). :-D

Don't let the name fool you. Much like wooing attractive women, he's really not very good at it.

'

:becky:

HBMTN · Jul 9, 2014

IamMadMan said:
They are not asking for a separate insurance policy, they only want to make sure the plaintiff can't sue them for incidents that should be covered by your policy. This clearly defines the scope of your liability for all parties for general liability, damage to premises, products, operations, personal injury.

Just ask your current insurance company for a "rider" to your current policy. Here they cost $25.00 and name the additional insured only for the specified date, time, and location. If you know the sponsors, dates, locations, and times when you renew your policy you can have them written into the policy with no additional charges.

This is standard policy for large functions and functions on government properties, schools, ect to thwart liabilities on them that may be caused by your presence at the location. Most policies only cover you at the specified address (IE: restaurant), or on your vending truck / trailer.

This is what I did, the charges were a total of $135 because I have two policies general and abc. So I talked with the venue and we decided to split the fee and it covers the entire year.

It's like I told the venue though, someone could fall in a hole on their property of something fall out of a rafter in their barn and the guest sue me so maybe I should have the venue add me to their policy the same as they want me to do :shocked:

This is all something that a bunch of insurance people dreamed up at some weekend insurance get away sipping cocktails and figuring out how to sell more insurance. Between me, the venue, the florist, wedding planner and the bride we have probably $12,000,000.00 coverage on the wedding this coming Saturday It's all BS

landarc · Jul 10, 2014

There are legal conferences. I found this out, and am lucky to still be alive. The attorneys get together at these conferences and discuss how they can write contracts to limit liability for their clients. Then they sell this information to municipalities and large companies, who then screw us. Worse, the insurance attorneys and city/corporate attorneys work together on these. No joke, actual truth.

tonyb · Jul 24, 2014

We run into this a few times a year. We have a rider on our policy that allows us to add additional insured parties at at time. Without the rider there was a per-change fee, the rider was cheaper than two changes.

kghart · Jul 28, 2014

The place I used last year for vending had me add them to my policy before I could vend. It cost me a little extra too but I can't remember what it was.

Venue Insurance Policy

HBMTN

is One Chatty Farker

TailGateJoecom

is one Smokin' Farker

HBMTN

is One Chatty Farker

landarc

somebody shut me the fark up.

sunrise

Knows what a fatty is.

TailGateJoecom

is one Smokin' Farker

IamMadMan

somebody shut me the fark up.

bizznessman

is one Smokin' Farker

txschutte

Quintessential Chatty Farker

HBMTN

is One Chatty Farker

landarc

somebody shut me the fark up.

tonyb

Knows what a fatty is.

kghart

Is lookin for wood to cook with.

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