How to protect for your events - Learn Online

Considering insurance and liability protection for your events

Lesson Details:
March 19, 2020

Video Transcription: In this video let's talk about whether you should get event insurance a very important and very seldom talked about point this video is brought to you by Appy Pie’s Academy should you do it well even before we get there let's talk about should you run your event as a business entity LLC an S corp Sikh or whatever or as self he's a difference if you run your business as self you get to save yourself a lot of headaches you don't have to register your business you don't have to like pay different taxes all that stuff the problem is if somebody ever sues you they're suing you for your personal money and possessions whether that's and that's compared to if somebody if you have an LLC limited liability company or S corp or c-curve all of them they give you liability protection which means that if somebody Sue's you they're not suing you personally they can I take your house they cannot take your car they cannot take the clothes from your children's back they can only sue you your business okay if you run the events from your business they can only suite your business the worst that can happen is the business will close but your livelihood will stay impact so it's important that's the important consideration now there's different kinds of insurance liability insurance property damage insurance all kinds of things but should you get them okay there's the problem is that there is no right or wrong answer because there is risk in specific situations so you're always going to lose money by paying for insurance that's one thing but is if you have for example an outdoor like rock climbing events or if your events are like sports events there's gonna be a ton of injuries okay.

It's inevitable it's only a matter of time with those sorts of activities so it's much more likely that you should get liability insurance now if you have basically events that are just lectures nobody gets hurt of Lightroom's okay I've never seen anybody get injured or a lecture my whole life never heard of it happens sometimes probably but the chance of that is so small that you can I can probably assume it's not going to happen in which case the decision to get the insurance it's probably is you know less of a decision are you probably not going to whereas some things where people get injured you definitely want right get insurance so that's something you can do now even if you have insurance or not another thing you can do is sign have people sign waivers there's to it instance there's two instances where you can have people sign waivers one is in case they are signing up for some kind of a carpool to your events okay maybe you got some weirdo and another weirdo they get into a fight in the carpool one of them kills the other one okay and they're like well it's part of your event okay we're going to your event we meant to your verse doing it so you have to sign you have people have to sign waivers even before they get to the car pool and there was a very famous case with the Sierra Club which is like a hiking club and where they were no carpool is a popular thing with hiking because you're driving somewhere far but there were some problems and they started having to do the waiver thing good people and then of course if the event is something physical you want to make people sign the waiver before the van starts so the waiver is for the carpool and the waiver is for the event itself.

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