Graduation season and how your new Grad's party could affect you.

June can be a very exciting month.  Students graduate college and high school.  To celebrate many families throw graduation parties.  These parties come in many shapes and sizes and many locations.  When planning these parties people are very excited and worried about the food menu and other logistics.  One thing that many people do not think about is how a graduation party could potentially lead to a claim that could negatively impact their lives.  In that same regard people do not think about how insurance can help them.  Renting a venue can be a great way to host a graduation party.  The venue is set up for a large crowd and many venues have the kitchen and restroom set ups to accommodate guest.  This is a great option to make your graduation party a little easier.  The problem could come when your venue ask you for insurance for the day.  What can you do?  Do you need to get a special event policy?  Did you know that your homeowners insurance may be able to cover the event?  You may need to increase your limits but in many cases your homeowners insurance can cover an event like this.  What if the party is at home?  Do you have enough insurance should the unthinkable happen?  Your homeowners policy would cover the event in your home but it is a good idea to double check with your agent to make sure your limits are high enough.  Another great option would be adding an umbrella to your policy.  An umbrella would give you a million dollars of coverage to sit on top of your current policies.  An umbrella could keep you from having to pay a large settlement out of pocket.  Finally do not forget that you could be on the hook for intoxicated guest leaving your party.