What’s Included in Event Planning Insurance Coverage?

August 4, 2020 •

As an event planner, you’re always busy managing any number of meetings, conventions, trade shows, ceremonies, parties—virtually any large gathering necessitates a competent event planner to ensure smooth delivery of activities and optimal enjoyment by guests. From budgeting and managing the event timeline to planning through execution and reserving event sites, developing themes, and coordinating guest lists, it’s easy to get caught up in both the stress and the joy of ensuring delighted attendees and an overall successful event. With so much going on, all too many event planners get caught off guard when something significant goes wrong. You need to protect your event planning operations to ensure business continuity and a long, lucrative future. How do you protect your business? Event planning insurance coverage.

What is event planning insurance coverage?

From physical accidents directly related to your event planning operations to failure to book a promised venue to delayed events, a lot of things can go wrong with your events. When things don’t go as planned, event planner insurance is there to protect you. That’s why if you’re just now learning how to start an event planning business, you should first start looking into insurance. Liability insurance for event planners helps you manage and mitigate risk, allowing your business to continue safely. An event liability plan also helps your business grow since potential clients typically work only with event professionals who have insurance coverage to ensure the fulfillment of their demands and contracted terms. Professional liability insurance can also help you grow by preserving your strong reputation.

Professional event planner liability insurance can protect you against the following:

  • Customer injuries
  • Damaged client or venue property
  • Damaged business property
  • Planning errors and oversights
  • Client dissatisfaction with your event
  • Failure to deliver on promised results and contracted terms

Why do I need event liability coverage?

Charged with coordinating a large variety of details, you have a lot of moving parts to your event planning business. From obligations to employees who’ve come to count on you to the sheer importance of your event successfully delivering on client requirements and fulfilling contract terms, your business is responsible for a great deal across a number of people, groups, and businesses. Successful fulfillment of those responsibilities means significant, consistent revenue. But failure to fulfill contract terms means potentially damaging liability. 

At its best, event planning is the complex and beautiful process of strategizing and directing people and activities in order to create and deliver a comprehensive experience for attendees. But the multi-faceted demands across your event planning business create significant vulnerabilities. No matter how competent you are at planning every aspect of events, there are always elements that are simply out of your control. Even with leading event professionals, it’s only a matter of time before something goes wrong. If you don’t have an insurance policy, you might be targeted with a legal claim. This is something you need to be proactively prepared for with event insurance before you’re hit with a claim. 

If you don’t have event insurance coverage, then you could be solely liable for any accidents, delays, or failures to deliver on contracted terms. A single claim could be enough to deplete your finances and put you out of business. Discover how to get liability insurance for an event and begin finding a policy that is best suited for you. A quick and easy cost of protection calculation—the event planning insurance cost over the life of your business—paired with a cost-benefit analysis will quickly help you realize an event planning insurance policy is one of the easiest, best decisions you could make to protect all your hard work.

Fortunately, event planner insurance offers a simple way to protect you, your employees, your business, and your clients. General liability and professional liability insurance coverage for event planning can:

    • Protect you against a large variety of claims that could be filed against your business as a result of regular business activities and daily operations.
    • Cover medical expenses, attorney fees, and other costs born of bodily injury and property damage for which you might be legally liable. 
    • Safeguard against cases where clients claim your services caused your client financial hardship (for example, failure to deliver an event that is typically a large revenue driver for your client). 
    • Be held in conjunction with errors & omissions (E&O) insurance coverage for added stability and protection against mistakes and failure to deliver on contracted terms. 

Quick, Easy, Strong Liability Coverage for Your Event Planning Business

You’ll enjoy the added, intangible benefit of exponentially more confidence once you get an event insurance policy. Think of all the times you thought of something incredibly unique and adventurous for a special event, but didn’t pursue it because of all the liability it opened you up to. Now think of how brave you can be with the peace of mind and confidence afforded by knowing you and your business are covered 24 hours a day, 7 days a week, 365 days a year. Think of how far you can go with professional liability coverage.

Simple to get and keep, while offering comprehensive, ongoing coverage options and protection, this is one of the easiest and smartest things you can do to take your event planning business from where it is now, to where you want it to be.

An event liability insurance policy is a must for your business, helping ensure your continued operations for years to come. Learn how you can make NOW Insurance’s years of experience providing insurance plans work for your business.

Simple, yet strong protection for profitable business continuity.

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