Renting out your venue space carries unique, associated risks and exposures. To limit these risks, you may consider requiring your renters to carry insurance:
General liability insurance covers damage to locations and injury to bystanders. This coverage is available on an annual and short-term basis, to fit your renters' needs.
Why do certain venues require it from renters?
Venues will often require proof of insurance from renters to confirm that they have coverage in place. You may also consider asking to be listed as an Additional Insured entity for the risks and exposures related to a renter’s operations; this means that their insurance comes into play before any your venue carries.
Why do some venues offer a master plan for their renters?
Venues can offer a TULIP (Tenant/Users Liability Insurance Protection) plan, which allows all renters to be covered under the venue's insurance policy. This type of policy can keep renter claims separate from the venue's, while making sure that everyone can be covered. Venues can offer to include the renter as insured under a TULIP policy for an additional fee or include the cost in the rental charges.
What exactly does a Certificate of Insurance (COI) from a renter cover?
A Certificate of Insurance is the document that provides proof of insurance, listing the venue as either Certificate Holder or Additional Insured (if this was requested).
Additional insurance help:
Fractured Atlas, the non-profit technology company that powers SpaceFinder, also helps artists and arts organizations to obtain insurance. In partnership with the brokers at Lockton Affinity, we've created insurance products tailored specifically to the needs of our artist members. For more information about the policies available through this program, you can visit the Fractured Atlas Insurance Program website. Our brokers are also available to assist you at (844) 412-5957 or FracturedAtlas@LocktonAffinity.com.
Fractured Atlas can only secure insurance for groups based in the US with US tax IDs.
Canadian-based insurance help:
Many Canadian venues who require liability insurance work with their own preferred insurance providers, so start by asking a venue directly about options. Otherwise the Insurance Bureau of Canada is a general resource.