When it comes to event insurance, many policies now include medical expense limits as part of the policy. These limits are often included alongside general liability and damage to rented premises coverages.
See our deep analysis of over a dozen event insurance companies to find the best one for your needs.
What are Medical Expense Limits?
Refers to the maximum amount the policy will pay for reasonable medical costs resulting from bodily injuries caused by accidents during the event, regardless of fault.
This coverage applies separately to each injured person but reduces the overall occurrence limit and general aggregate limit of the policy.
Typical Coverage Amounts
Limits can vary depending on the insurance provider and policy. Some common coverage amounts include:
- $2,500 per person with a $25,000 maximum
- $5,000 per occurrence
It’s important to note that these limits are often much lower than the general liability limits of the policy, which can range from $1 million to $5 million.
Why is it Important?
- Quick Resolution: By covering immediate medical expenses, this coverage can help prevent costly lawsuits.
- Separate from Liability: Pays out regardless of fault, unlike general liability coverage.
- Sublimit to Occurrence Limit: Payments reduce the overall occurrence and aggregate limits of the policy.
Considerations When Choosing Medical Expense Limits
- Event Type: High-risk events may require higher medical expense limits.
- Number of Attendees: More guests may increase the likelihood of accidents, potentially warranting higher limits.
- Venue Requirements: Some venues may have specific insurance requirements, including medical expense limits.
- Cost vs. Benefit: Higher limits offer more protection but come with increased premiums.
Our Top Picks
Be sure to check your venue’s insurance requirements before securing a policy!
SpecialInsurance.com
Starts at $160 for $1M/$2M GL coverage
Damage to rented premises limit: $300,000 (option to upgrade to $1M)
Medical expense limit: $5,000
Waiver of Subrogation Endorsement: Yes
Primary Noncontributory Endorsement: Yes
Free quote feature available
Coverage can extend beyond midnight depending on state liquor laws, in which case only 1 day of coverage is required
FLDean, eWed & Eventsured
Provides the option for up to $10,000 in medical expense limits
