It takes time, effort, and a lot of financial investment to run an exhibit at a trade show. Whether you have a packed annual calendar of trade shows or rely on just one or two key shows per year, exhibitor insurance can help protect your business by safeguarding your finances at these events.
From dealing with cancellations to handling third-party claims, the right insurance lets you focus on making sales and networking rather than worrying about what may go wrong.
What is exhibitor insurance?
Also known as trade show exhibitor insurance, this type of policy offers a package of covers specifically tailored to businesses that exhibit at shows and events. It takes into account the costs of exhibiting and offers protection against key risks such as unforeseen cancellations, claims by members of the public or employees for injury or property damage, and loss of or damage to your company’s property.
Why is it important to have exhibitor insurance?
Exhibition liability insurance not only protects the investment you have already made to attend a trade show, but it also deals with claims that can result from your attendance. While holding exhibitor insurance isn’t always a legal obligation, many trade bodies will require attendees to have it.
The biggest financial threat to an exhibitor is the cancellation of the event. There are many reasons why an event could be cancelled, including:
- Damage to the venue caused by fire, flooding, or storms
- Loss of key utilities such as power, water supply, or heating, making the venue unusable.
A cancellation risks the finances you have channelled into attendance fees, staff wages, travel and accommodation, marketing and promotional materials, and stock. But most importantly, it can also lead to lost revenue.
Cancellations aren’t the only risk to consider. Your travel plans could be thwarted by bad weather or transport strikes. Your business equipment or stock could be damaged in transit. At the event, if a visitor trips on a power cable at your stand and injures yourself, they could make a costly medical claim. If a heavy item of stock falls from your stall and smashes an employee’s personal device, you could be held liable.
Types of cover
Exhibitor insurance usually includes the following cover as standard:
Public liability
Public liability insurance for exhibitors deals with third-party claims for injury or personal property damage. You can use it to defend claims and to pay compensation, medical bills, and the associated legal fees. Most venues will require a certain amount of PLI before they will allow you to exhibit at their show.
Employers’ liability
If you employ staff to work at a trade show, you’ll need to ensure you hold at least £5 million of employers’ liability cover, as required by UK law. Even if you’re a sole trader who only employs staff specifically for such events, you still need to have this cover.
Event disruption/cancellation cover
This cover helps you recover the money you invested in attending the event. It can also be tailored to cover your lost revenue.
Event equipment cover
You can protect the equipment and stock you need for the exhibition against theft, damage, and loss with equipment cover. It will also keep your equipment safe while you’re travelling to and from the event.
Most policies will cover you for your setup and break-down period too.
FAQs
What isn’t covered by exhibitor liability insurance
You will not receive cover for events that aren’t confirmed in writing, nor for a cancellation that you knew in advance you may not be able to attend or that could be cancelled due to publicised issues. Equipment and stock left unattended will not be covered for loss, theft, or damage. Third-party injury or property damage attributable to the negligent set-up of your equipment will not be covered.
How much does events insurance cost?
Your insurer will calculate your premium based on the number of consecutive days you’ll attend a trade show and the number of events you’d like to attend across the year. They’ll also factor in the number of expected attendees at each event and what industry or business sector you’re in.
Park Insurance has been working with the UK’s small businesses for over 30 years and understands the value of attending exhibitions. Get in touch with our professional team of experts today to see how we can protect your business at trade shows with comprehensive exhibitor insurance.