Live Music Venues Definitions Of Coverage

Coverage Definitions

 
GENERAL LIABILITY: Will pay those sums that the insured becomes legally obligated to pay as damages because of bodily injury or property damage on the insured’s premise or in the normal course of business. Most policies include defense costs in the limits of liability. 

PROPERTY/CONTENTS: Will pay for direct physical loss or damage to covered Property at the premises described in the declarations caused by or resulting from any covered causes of loss.
 

OPTIONAL COVERAGE

LIQUOR LIABILITY: Similar in coverage to General Liability except this coverage specifically covers liquor related claims from a client either being over served or by negligently serving a minor. Liquor Liability is only needed when you in the business selling or serving alcoholic beverages.

ASSAULT & BATTERY: Coverage for third party liability claims arising out of assault and/or battery. Claims can arise from an employee injuring a patron or from a patron injuring another patron.

HIRED/NON-OWNED VEHICLE LIABILITY: Provides contingent excess liability for Hired (rented) vehicles and non-owned vehicles (vehicles owned by employees and driven on company business.) Limits are the same as the General Liability policy.

GLASS: Coverage provided for broken or damaged glass windows and doors. Glass is not covered under your content policy.

WORKER’S COMPENSATION: Required in most states by state law, provides medial and disability coverage for your employees (and often times your performers and other independent contractors without their own coverage) if they are injured on the job.

MONEY & SECURITIES: Theft of money & securities by holdup or theft. Coverage is on and off premise. Premium: $420 for $5000 coverage. Money is generally not covered under your contents policy.

LOSS OF EARNINGS: We will pay for the actual losses sustained due to the necessary suspension of your operations during the period of restoration.

VALUABLE PAPERS OR RECORDS-COST RESEARCH: The cost to research, replace or restore the lost information on lost or damaged valuable papers and records including those that exist on electronic or magnetic media for which duplicates do not exist.

ACCOUNTS RECEIVABLE: Will pay for all sums to collect receivables do to damage of the records. Collection expense in excess to normal cost due to loss.

ACCIDENTAL MEDICAL: Provides medical reimbursement expense for accidental injury. Spectators, Participants, Volunteers, and Performers may be insured.