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Event Planner Insurance
Running your own event planning business is filled with both excitement and stress. You have to be highly detail oriented to succeed in this industry. You’ve come a long way by planning and launching the business, now make sure you have it fully protected with commercial business insurance.
General Liability Insurance
Errors & Omissions
General liability protects your company from losses that can arise due to unexpected hazards or events. For example, it covers bodily injuries to your customers, as well as customer property damages that occur on your business premises. General liability can protect you from the expenses involved with mistakes in advertising or problems with products you sell or provide. General liability insurance grows with your company and provides protection against unaccepted hazards as long as they’re not specifically excluded on your policy.
Business Owners Policy For Event Planner (BOP)
A business owners insurance policy provides you with specific types of asset protection for your company. You can tailor the coverage to meet your business needs and expand it as you grow.
- Equipment Breakdown – As an event planner you travel to customer locations to provide detail planning and create blue prints of what the event will look like, in the event that your computer crashes or the equipment you use to create the blue prints don’t work, your BOP policy will provide coverage for any losses due to these malfunctions.
- Buildings and Contents – Events planning companies do most of their work at a client’s location, but you must also maintain your own business space. You may for example, have a storage building to hold event decorations. You may also maintain professional office space to meet with potential clients. A BOP protects you from losses to your buildings and the physical assets you have inside.
- Business Income and Extra Expense – If your business buildings or contents are damaged severely in a catastrophe, you may lose income while waiting for repairs. A BOP can provide that lost income and cover extra expenses that may arise.
- Products and Completed Operations (Included in General Liability) – Events and activities come with potential hazards. If the products you use for an event for example, bring harm to your clients or their guests, your company can be held liable. Your BOP can protect you from those litigation and settlement expenses.
- Electronic Data– Customer records, scheduling, supplier contracts and more are kept in electronic format these days. A BOP can protect you from computer data corruption or loss of these important business files.
- Newly Acquired or Constructed Buildings – As you plan to expand your planning business and acquire new office locations, your BOP policy will extend to provide coverage for these locations for the time and amount specified in your insurance policy.
- Valuable Papers Protection – As an event planner you are obligated to save your customer information such as payment receipts and contracts for a certain amount of time, in the event that these papers are stolen or damaged, your insurance coverage will provide the necessary means to replace or reimburse you for the cost of damage.
- Employee Dishonesty Coverage – If your employees commit dishonest acts that bring harm or loss to your clients, your event company can be held legally responsible for all damages and recompense. Your BOP can provide protection against these potential hazards.
Professional Liability Insurance For Event Planner
Professional liability insurance is also known as errors and omissions. As a professional events coordinator, your mistakes can cost your client’s a lot of money. If you make a professional mistake or omit something critical accidentally, professional liability coverage can handle the litigation costs and settlements so that your company does not suffer financial ruin.
Workers Comp Insurance For Event Planner
If you have employees you are required by law to carry workers comp insurance. Workers comp takes care of the employee’s medical bills if they are ever hurt while performing their job.
Commercial Auto Insurance For Event Planner
Event planning companies are always on the go. Protect your company from losses and the expensive replacement costs that can arise if you or an employee is involved in an auto accident.
Surety Bond For Event Planner
Surety bonds provide a guarantee to your client that says you will fulfill the obligations of your contract. If you fail to carry through, the surety bond will pay your client’s damages and loss.