Insuring Your Next Concert Event
Whether you are planning a small one-group concert or a huge festival, security and insurance must be two of your primary concerns. The challenges facing concert promoters are no secret with all of the news of tragedies at shows, and concert promoters must be sure they are protected in the event that something does happen. But what are you actually insuring? Before you can get insurance for your next event, you have to understand what it is you are protecting.
In most cases, the concert promoter is not the owner of the venue, but the venue will still insist that there be liability insurance in place. More than likely, the venue has insurance, but venue owners want promoters to have insurance to use to prevent the venue insurance premiums from going up if something does happen. Promoter liability insurance can also fill in with protection that the venue insurance does not have. Any damage done to the venue will usually be taken from the promoter insurance.
Promoter liability insurance can also protect the audience in the event something happens that was unexpected. For example, a fixture from the light show falls to the stage, shatters, and send debris into the crowd injuring people in the audience. If this were to occur, liability insurance would cover the damage and the medical expenses of the audience member.
With technology making live performances easier to manage, the need for liability insurance to protect the performance itself is less intense. However, a good promoter is always prepared with liability insurance to protect the venue, audience, and performers from potentially dangerous elements of the production itself.
Sometimes even the best marketing tactics fail to sell enough tickets to cover the costs of a show, and a promoter could find themselves in financial difficulties if a big show does not sell enough tickets. We offer liability insurance that can protect against potentially disastrous financial losses and make sure that the promoter is in business after a bad show to use what they learned to put on a better show in the future.
Comprehensive Insurance Review
We work with concert promoters who understand the importance of good insurance coverage, and that is why they take the time to do a full insurance review with us on a regular basis. If an expensive artists is injured because of something deemed to be the responsibility of the promoter, then insurance can prevent that promoter from losing everything. We always recommend a comprehensive insurance review before every performance to make sure all of the necessary insurance is in place.
Live concerts are thrilling events, but they can also be financial nightmares if the right risk protection is not in place. Our experts are ready to work with you on your next concert event and provide you with the insurance coverage you need for complete peace of mind.