When you plan a trade show or exhibition, you might wonder how insurance companies fit into the scheme of things.
The simple fact of the matter is that business organizations these days are investing more and more money in trade shows and exhibitions. First of all, there is the custom exhibition stand. These can cost tens of thousands of pounds sometimes. Sometimes they have been designed from scratch by a professional design company.
First sketches were floated, then the design was converted into digital 3D, then complex and detailed graphics panels were designed, and finally the whole design was brought to reality by a team of skilled engineers – and this entire process cost your company a vast amount of money. Think about your losses, without insurance companies covering you, if this state of the art custom stand were to be damaged, for example, in transit.
That could happen, you know – incorrect packing could do it, or even a minor trucking accident. Or a little slip loading or unloading it, or not tying it down properly when the truck is on the move. Each point that I’ve mentioned here is a distinct possibility, and any of them could lead to the loss of your custom stand. Then there are things that could happen on site as well – a small fire, for instance.
Even a small fire would be enough to damage your stand, and the fire fighting foam that would inevitably be sprayed all over the stand to put out the fire would do the rest. With good insurance companies on your side you need never worry about something like this.
And we are still only considering the cost of the stand itself. What about the on-site equipment that you’ll be using? Perhaps you have an on board, state of the art sound system that costs a small fortune, speakers and all. Then you have spotlights to show off your stand – these could easily fall prey to a power surge or short circuit. You might even have an expensive movie projector as well as luxury seating arrangements that could go up in smoke in case of an accident or fire.
You have to consider the potential losses if something should go wrong, and you don’t have the coverage and support of one of the main insurance companies. Almost all the items I’ve mentioned here represent long term investments. This is equipment your company is going to be using again and again for trade shows over perhaps the next ten years. Can you afford to lose, and replace it, at the whim of random chance, or due to a minor, unforeseeable accident? Of course not.
A good insurance company will cover not only the cost of all this equipment, but also the little extras – the banner that you place over your exhibition stand, for example, or the smaller banners you place around the grounds – each of which costs money. Insurance companies will also cover the cost of the promotional items you might store at your stand, as well as your employees. You do not want to end up paying heavy damages to one of your employees because a banner stand fell on him.
It really is better to be safe than sorry, and it is always best to take reasonable precautions against disaster, and a good insurance company is in business precisely to guard you against any such disaster.
By Jessica Calhoun