Quick guide: insuring a charity fundraising event
Holding events is an integral
part of an effective fundraising strategy for charities. While you will want to focus
as much energy into raising
money for your cause, it's important to arrange adequate protection against the
unforeseen. Every event, be it a
small scale coffee morning through to a summer fete involving hundreds of people,
should be insured to protect your
charity against a whole range of risks.
Public liability insurance protects your
charity in the event it causes injury to someone, or damage to third party
property, due to its negligence. This
could be, for example, a visitor tripping over cables, or damage caused to a village hall after a jumble sale.
The chances are you will make an effort to to minimise the likelihood of these things happening; but
even in a well-run charity there is always a chance that something could go wrong.
While arranging public
liability insurance can seem like a burden for small charities, it can save your charity
thousands in the event of a
claim being made. Without insurance in place, compensation payments and legal fees can
often be crippling for
charities as the money has to come out of its own finances. If your charity has public
liability insurance in place,
however, this can be avoided.
As well as trips, slips and falls, public liability will also cover your charity
in the event of it causing damage
to third party property. Fundraising events often take place in rented properties,
such as a village hall or
community centre. Floors and walls can easily be damaged during such events, and the costs
of repairing such damage
can be significant. A hefty proportion of the money you raised at your event may need to be
spent on making repairs.
Again, public liability can protect your charity in these instances.
Employers liability insurance is a legal requirement if your charity has employees, and depending
on your insurance
policy, also covers volunteers. Public liability does not usually provide cover for volunteers are
fundraising - for example, slipping on a wet surface - so arranging suitable cover is important.
liability can protect them in these situations. It is important to remember that risks can be minimised
and thorough supervision and training.
In addition to protecting your
charity's liabilities to others, you should give some thought to protecting the
charity's own assets. Expensive
electrical equipment such as laptops, speakers and microphones can cost thousands of
pounds to replace. Business
equipment insurance can cover your charity against damage to such equipment.
Get a quote for charity event
insurance now or find out more on our charity insurance