Do You Need Insurance for a House Party?

House party planners might want to consider an insurance policy before kicking off their next rocking residential rager.

If the movie "House Party" has taught us anything (and it hasn't), it's that in any decade, a house party can be full of injuries, property damage, and hilarious hijinks. But real life is rarely as funny, and you could wind up in court for what happened at the party.

So do you need insurance for a house party?

Event Insurance

Drivers are required to purchase car insurance to not only avoid getting tickets but also to avoid paying out-of-pocket for damage that their car may have caused. So what would insurance cover for someone planning to throw a house party?

It's not required by law in any state to purchase event insurance before you throw a kickin' house party, but here are a few reasons to consider it:

• Liability insurance coverage. You can try your best to keep the party house a safe place to be, but accidents do happen. With event liability insurance you may be covered for up to $2 million in personal injuries or property damage.
• Liquor liability insurance. Many private event insurance plans will include an option for liquor liability insurance. Depending on your state, you may be held liable for the drunken mishaps of your party guests, and liquor liability police will cover these incidents.
• Cancellation. Did everyone bail on your party because of a snowstorm? Or maybe you got sick? You can cover things like non-refundable deposits for the fog machine, DJ, and kegs with your event insurance policy.

These policies may vary in price, but this is America, so party planners can shop around for a policy that fits their needs and wallets.

• Injured? Exercise your legal rights. Get in touch with a knowledgeable personal injury attorney in your area today.

What About Homeowner's Insurance?

If you happen to own the house for your house party, or if you're somehow included on the policy, you may not need extra insurance coverage. A quick glance at your homeowner's insurance policy may reveal that you're actually covered for most slip-and-fall type accidents on your property.

Upside: No need to pay for any additional insurance. Downside: Your homeowner's insurance may have less coverage than a more comprehensive private event insurance plan. Having both would likely fill in any liability gaps and can give you some legal peace of mind.

Related Resources:

• Hosting a party? Insurance can protect you (Bankrate)
• Top 5 Legal Tips for Your Bachelorette Party (FindLaw's Law and Daily Life)
• Slip-Fall Injuries Can Ruin Your Holiday Party (FindLaw's Injured)
• 49ers' Aldon Smith Stabbed at House Party (FindLaw's Tarnished Twenty)