Last week a group of account managers were reviewing some coverage differences on a few policies.
Yes, I know this sounds dreadfully boring, but it is our job here at Herlihy Insurance to know this stuff and our team takes great pride in knowing how policies work. We always need the basics about your property, business, or vehicles that you are insuring and we must admit some clients do not like the list of information we have to acquire in order to obtain quotes for insurance. Anyway at this meeting, one of our group members Lisa, chimed in that we have to start asking our insureds about parties.
I’m here thinking, who in their right mind is going to tell us if they have big parties? As Lisa pointed out, all policies do not provide the same coverage for home and work parties so they can present a new dilemma for business owners. Some home insurance companies provide “host liquor” while others have more limited coverage. One of the big issues with home insurance policy coverage is the form that excludes coverage for ANY “motor vehicle liability”. This means that if a guest is over served and gets in an accident, you the alcohol serving homeowner, may be liable. Business owners should also check in on how their policy will respond to work “parties”.
Whether you are a home owner or a business , If you are going to host a big party, we suggest you acquire a special events policy that extends more comprehensive liability coverage. Don’t get us wrong. We at Herlihy Insurance Group, love to see our clients and businesses enjoying themselves. So please keep up the partying, just check in with us on how your insurance can work best for you!
Herlihy Group – Here to Help!