You won’t find “holiday insurance” listed in your coverage options. However, business owners should be aware of special insurance considerations during the holiday season. Three areas in particular require extra attention. As you gear up for the festivities ahead, keep the following in mind:
Decorating: Do you spruce up your space for the public to enjoy? Do your employees add holiday cheer to their cubicles? Does HR add lights, a tree, or other decorations to your surroundings? Whatever you do to decorate, be sure to follow proper safety precautions to avoid filing a fire claim this season.
- Keep flammable items at least three feet (0.9 m) away from heat sources.
- Don’t string together multiple extension cords.
- Discard items with damaged cords or parts.
- Water live trees daily.
Celebrating: Will you be hosting a holiday bash for your employees? These events involve a level of risk of injury or other incidents. Check with your insurance agent about host liability coverage to ensure you are prepared for these risks. Limit drinks through the use of tickets or by restricting the bar hours.
Staffing: Many businesses beef up their staff for the holiday season. If you hire temps to get you through this busy time, verify their workers’ compensation coverage. Are you responsible for this, or is the temp agency? Does your general liability policy have any exclusions you should be aware of? Review your policies with your agent to ensure proper coverage is in place.