This summer will see the 60th anniversary of the Queen taking over as head of the royal family and as is typical in the UK there will be street and house parties up and down the country to celebrate. Councils have already reported a huge number of applications to have street parties and many more people will opt to have parties in their own homes, but will they be insured.
There’s no need for insurance for a street party legally, but if you organise the event and don’t have insurance you can be held liable for any accidents or problems that occur. If you choose to host a party in your own house, you’ll still be covered by your home insurance and don’t need to notify them if you are just having friends over.
It will be a different story if you charge people to come, or invite other members of the public, and you should call your insurance company to clarify how your home insurance will be affected by such a party.
Whilst organising the venue, food, decorations and music may be the most obvious and important points on many peoples to do lists, financially the most important is the insurance, as the consequences of not having home insurance cover could be devastating.
With theft no longer covered, damaged carpets or furniture not covered and even potentially a fire not being covered you run a huge risk holding a party and not telling the insurance company and the spokesperson for the Association of British Insurance, Nick Starling explained, “There is no law that says you must buy insurance for these events – but as the organiser of the event you could be personally liable if something goes wrong, and having public liability insurance (PLI) will give you peace of mind.”
Home insurance is vitally important at all times of year and you should not jeopardise your cover by overlooking it when hosting a party. Many insurance companies will either tell you the party is fine, or sell you an add-on to your policy to make sure you are covered.