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
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.
Employer's liability
Employer's 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 injured during fundraising - for example, slipping on a wet surface - so arranging suitable cover is important. Employer's liability can protect them in these situations. It is important to remember that risks can be minimised with proper and thorough supervision and training.
Equipment cover
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 page.