There is a very thin line between Being “Confident” and Being “over Confident”! – Now, Nicole was extremely (over) confident that the birthday party of the Mayor’s kid (that she organized) will go as planned and it will take her to the top. And as expected, she didn’t consider having Event Liability Insurance. It poured heavily that day and the whole thing turned into a mess!
The bottom line of sharing this experience: Since we cannot see or predict our future, it is always beneficial to have “Insurance” that insulates us from those unseen and uncontrolled set of events before it takes a toll on our economical and emotional well-being.
Usually it IS believed that insurance is for those who risk their lives or have to deal with something dangerous – Well, not really!!! Insurance is basically to cover one against any adverse situation; more importantly makes it easy to overcome the financial loss that an accident leaves behind.
As in the case of Nicole, the rain which spoiled the event landed her in grim financial difficulties: She had to pay huge sums to the decorators, caterers and others as the property was terribly damaged. Should she have managed to get herself insurance, the disaster, if not avoided, would have been mitigated.
Like everyone else, Nicole thought that taking out an insurance policy is a sheer waste of money (?) – For her, it was like parting away with her earnings. However, one thing we all forget is that it is not parting away – In fact, it is taking some amount and putting it in a bank, which can be later used in “hard times”.
Basically, insurance lends a helping (and healing) hand – Like when any major event is postponed or cancelled or worse, when ruined due to nature’s fury. The insurance plan will immediately come to your assistance. It would reduce the unexpected financial liabilities that come upon in wake of any such emergency.
The trauma of failure may not subside; but yes, one can definitely get some relief from the immense financial burden. You will have some solid (monetary) support system with which you can rebuild your business and life.
Moreover, planning an event, especially one on a large scale, is indeed a herculean task. A lot of money and reputations are at stake – And a single incident can ruin everything. In such a situation, Event liability insurance comes into the picture. It acts like a sponge: absorbs all the ill-effects by helping you pay the extra money in case of property or personal damage.
Moreover, even in some cases of legal suits or compensation claims, the insurance makes it smoother for you to deal with later complications. In other words, it saves you a million!
For more information visit to http://www.clarionins.com/EventLiability.aspx
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