3 Things That Trade Show Insurance Covers
Did you know that the trade show and conference planning market was worth $20.7 billion in sales in 2022? Place your company’s products and branding in a trade show, and your profit margins will grow by leaps and bounds. But they are a risky business, and not all event insurance covers trade show damage.
With all the foot traffic and people handling your products, anything can happen to your trade show displays. There are many available types of trade show insurance to protect your business from financial losses from damages.
Keep reading to learn how it works and how it covers you.
Table of Contents
1. General Liability
General liability coverage can cover many aspects of trade show operations and liability. This type of insurance provides protection if an attendee is injured while participating in an event. It offers coverage for property damage that may arise from trade show activities.
The policy can also include coverage for product liability and umbrella coverage. It also covers personal and advertising injuries. This type of coverage also helps you with legal defense costs related to bodily injury and property damages.
Protect your business and ensure your trade show goes off without a hitch with the help of Clear Insurance Solutions. Their comprehensive coverage protects your specific needs and events from losses. Trade show liability insurance provides a great level of coverage and peace of mind to exhibitors and vendors.
2. Exhibition Cancelation
Trade show coverage insurance can protect exhibitors in the event of an exhibition cancelation. Coverage includes indemnity for the exhibitor’s expenses should the trade show be canceled for any reason. These policies can also provide coverage for the exhibitor’s materials and property in case of damage or loss.
Exhibitors can reimburse fees they paid to the event organizer for renting a booth space. This is only allowed as long as the cancelation is within the policy guidelines.
Exhibitors who purchase event cancelation insurance can also be assured of a statement of loss. They may be able to back up any insurance claims they may have about this type of coverage.
3. Libel and Slander
Libel is a false written or printed defamatory communication. Slander is a false spoken communication that is defamatory. Defamation of character is a serious offense, and successful claims can amount to huge damages.
Libel and slander can occur through advertising, disparaging comments about another competitor or company, or any other false and damaging words. Trade show insurance may cover costs associated with defending a lawsuit related to libel and slander. Monetary damages may also be awarded to the party bringing action.
Coverage can be applied during the organization, hosting, and conclusion of an event. It is important to be mindful of potential slander throughout.
It is also important to note that while insurance might be an option, it’s not a foolproof solution. The best way to avoid libel and slander is to act diligently and take necessary steps to ensure that no one’s character is maligned during an event.
How Trade Show Insurance Helps You
Trade show insurance is an invaluable asset for exhibitors and booth holders looking to secure their investment. This coverage can provide financial protection for an array of potential issues that may arise. This will ensure that your exhibition event can run smoothly and safely.
Don’t be left with the financial burden of unforeseen stressors. Take proactive steps to secure trade show insurance for your next event!
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Last Updated on September 9, 2023
