Insuring your event is often surprisingly cheap and easy to organise. If you are going to run an activity that involves others you should give insurance proper consideration. Contact the charity you are fundraising for as they may be able to provide some advice.
The first step in identifying and organising suitable insurance for your event is to carry out a risk assessment. This will help you to identify any possible hazards to your team of volunteers, the general public, the venue, the event itself and yourself
Then find out what insurance is available to you free of charge. Generally if you are hiring a venue, it will be insured and you should ask what cover is available when you hire. Some charities are able to offer insurance to people fundraising for them, so it is worth asking them.
Around 13,000 parent teacher associations are members of the National Confederation of Parent Teacher Associations, who offer comprehensive insurance to their members. If you are fundraising for a school, check this out first.
If you are not already covered the next step is to contact an insurance broker. Insurance brokers are regulated by the Financial Services Authority and are required to act on your behalf, but giving impartial advice that will help you identify the insurance cover you will need. They will also help you to find the insurance firm that can provide this cover.
The British Insurance Brokers’ Association (BIBA) provide an online search tool covering their 2,500 members to help find the right insurance broker for you. You don’t have to use a BIBA registered broker but if you chose not to you should check that the broker is independent of any insurance provider so that they are able to give you impartial advice.
Making high value prizes effective fundraisers
You could consider insuring the event so that the cost of the prize is covered by an insurer.
Disclaimer
This know-how sheet is produced by how2fundraise.org, an on-line service provided by The Institute of Fundraising. It is intended to provide general information only and should not be taken as a full statement of the law. Please bear in mind that the Institute does not give professional legal or accounting advice, and while care has been taken with this information, you should consider whether you need to seek advice before taking any actions or incurring costs.
The information applies to England and Wales only.
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