As a wedding planner, it is your job to ensure that the day you plan for the two people getting marries is stress-free and perfect. While you may love making a bride or groom's dream come true, event planning also has some fear that can come along with the job. If you make a mistake that ruins the day, costs the clients money, or simply makes them unhappy, this can cause you to be drawn into a lawsuit. Your attention to detail can never waiver. After all, they are called bridezilla for a reason, right?
Wedding Planners insurance is not simply one policy that covers all of your risks. Because you have different kinds of risk associated with your profession, you should have a specialized package put together by your insurance agent. Wedding Planners insurance will cover you if you are sued because of a mistake (negligence) that costs the clients time and money, property damage, or even bodily injury. Additionally, if you have employees, you will need to provide coverage for them, should they become sick or injured while on the job.
As stated above, there are a few relevant policies that you should have as a wedding or event planner.
Some additional policies to consider depending on your business operations is Commercial Auto, Umbrella, Employment Practices Liability, and Cyber Liability. Another critical policy you may need is Commercial Property if you have an office or important business personal property. Be sure to discuss all of your operations with your insurance company.
Does a bride want to get RSVPs? Even though some clients may think you are a superhero for making their wedding day spectacular, you are only human. This means there is always a possibility for a mistake, regardless of how careful you are and how long you have been in business. Because you are in charge of a variety of tasks, you risk is a little more than some other industries. You are always concerned about making your clients happy; be sure to be worried about your business health as well. You don't want to end up in a situation where a small mistake can end up bankrupting your business.
Since each wedding planner does different things and is at a different stage, it would be hard to give a generalized price. If you need an accurate number for budgeting purposes, it is always best to contact your insurance company. However, you can plan to spend around $500 annually for General Liability alone. Workers Compensation will depend on your payroll, and Professional Liability depends on several factors. When you are ready to purchase your liability coverage, contact your insurance agent.