THURSDAY, MAY 26, 2022
With about 1.5 million high school graduates in the United States this year, there could be one or more graduation parties in every neighborhood. While planning to celebrate your recent graduate, it’s wise to consider whether your current homeowners policy will cover any mishaps or accidents during your graduation party.
While your homeowners policy may help if an unexpected event creates a legal liability, it may not be enough protection for a private graduation party. Your agent can help you evaluate your current coverage and decide whether you need additional insurance.
Contact Lupton & Luce in Riverhead, New York, today to learn more about how your liability insurance may help protect your finances during a graduation party.
How Homeowners Liability Insurance Can Help
If a guest becomes ill or is injured while visiting your home, you could be legally liable for damages, including medical bills. Your homeowners liability insurance policy can protect your finances by helping to pay those costs. 
When you host a party in your home, you invite many people onto your property. While it may not seem like you need to worry about incidents like fire, theft, vandalism or damage to your home, having adequate liability coverage for your graduation celebration is crucial.
Guests may not intentionally harm your property, and accidents happen. With liability coverage, you could get help paying for several common occurrences:
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Medical bills resulting from a guest getting sick from the food you serve
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Injuries or accidents resulting from alcoholic beverages you serve
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Medical bills resulting from your dog biting a guest
Umbrella Insurance
If a claim exceeds the limits of your homeowners insurance policy, an umbrella policy can help. Umbrella insurance helps provide coverage for third-party property damage and injuries. It may even extend your liability coverage to include coverage for certain lawsuits.
In general, an umbrella insurance policy is inexpensive, considering how much additional liability protection it provides. Your agent can help you decide if your upcoming graduation celebration warrants an umbrella policy.
Special Event Insurance
Depending on the size and location of your graduation party, your agent may also recommend that you purchase special event liability insurance. This coverage helps cover unexpected situations resulting from having a large gathering at a location you do not own.
If you plan to have a graduation party at a park, event center or other location away from your home, special event liability insurance can help provide liability protection not offered by your homeowners insurance policy.
You can get special event liability insurance coverage for single-day private events or multiple-day events open to the public. In general, you can’t have more than 12,000 people in attendance and the event must be held at a single location.
Special event liability insurance may help pay for medical expenses if a graduation party guest is injured. It may also help protect you from paying for damage to the venue, including equipment and buildings.
Liquor Liability Insurance
If you plan to serve alcohol to attending adults at your upcoming graduation party, your agent may also recommend that you purchase liquor liability or host liquor liability insurance. Most event insurance policies don’t include coverage for alcohol-related incidents when guests are served alcohol at a party.
Get Insurance for Your Graduation Party
Depending on your situation and how you plan to celebrate graduation, your agent may recommend several insurance options. Contact Lupton & Luce today to learn more about how to properly insure your upcoming event and get a quote.
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