What You Need to Know About Party Planner Insurance

Two party planners standing back to back at a party

If some of your skills include planning and organizing events, strategizing, and budgeting, perhaps you’ve thought about becoming a party or event planner. Being a party planner is no easy task. There are several things you need to coordinate at a time—like the venue, guest list, caterer, and more. 

Like any other professional, you’ll want to make sure you have insurance in place too. Insurance Canopy provides professionals like you with party planner insurance, also known as event planner insurance. Having insurance protects your business should an accident occur that could harm your business and its assets. 

Today we’ll walk you through what party planner insurance is, what’s included in a policy, how much it costs, and how you can get insured today. 

What is Party Planner Insurance?

Party planner insurance is designed with the party planner in mind, offering you the coverage you need for your unique set of liability risks. Common risks include incidents involving event equipment and guests, that can result in bodily injury or property damage, and even lawsuits involving your business operation. Insurance provides a layer of protection so you don’t need to pay hefty costs out of your own pocket.

You may be wondering, “Do event planners need insurance?” The simple answer is yes. Having liability insurance—both general and professional liability—can reduce and sometimes eliminate those costs created by unplanned accidents. As such, it’s not only a good idea to have insurance in place, but it’s a modern-day business necessity. 

What is Included in Party Planner Insurance?

There are several aspects included in a party planner insurance policy. When filling out an online application, you can tailor your policy to fit your specific needs. We will outline the general coverage included in each policy, so you can feel comfortable with the coverage you get from Insurance Canopy. 

General Liability 

General liability also referred to as business liability insurance is designed to respond to instances or accidents that occur while running your normal business operations. General liability provides coverage for bodily harm, property damage, advertising injury, and more. For example, if your business operations cause damage to a venue, you can be held responsible to repair the damages. This is where general liability insurance comes in handy. 

For all Insurance Canopy Party Planner Insurance policies, there is a $2,000,000 general aggregate limit, with a $1,000,000 occurrence limit for general liability insurance.

Professional Liability

Also known as errors and omissions insurance, this type of liability is designed to respond to negligence claims. This means that if someone, like a party guest, gets injured by your business operations, you can be held liable for these costs. This can include things like personal injury, copyright infringement, negligence, and more. 

Professional liability insurance is included on all party planner insurance policies as well. 

Damage to Premises Rented

Damage to premises rented policies can protect your business from the cost of claims that arise from damages done to rented spaces, like an event venue or wedding hall. The amount of coverage varies by the plan you choose. At Insurance Canopy, we provide total annual coverage of $300,000 for this policy. You can learn more about this part of the policy here.

Cyber Liability

As a party or event planner, you likely store a lot of information online. This can range from payment information, customer names and email addresses, and more. If a cyber breach occurs, all of your information can be stolen or breached. In the event that this happens, you’ll be grateful you have Cyber Liability Insurance. Cyber Liability Insurance is available at an additional cost of $79 per year. This is a small price to pay so you can protect your information, as well as your customers’ personal information. You can add this coverage to your policy when filling out an application. 

How Much Does Party Planner Insurance Cost?

Party planner insurance is available at the affordable cost of $199 per year. You can pay $199 upfront, or you can pay in monthly installments of $16.58 per month. This is the base price, so if you would like to add any additional coverages (like Cyber Liability Insurance) or endorsements to your policy, those will be added to your policy at an additional cost. 

Get Protected Today

Filling out an application is a simple, quota-free process. You can fill out your application in less than 10 minutes and receive immediate coverage. We hope this article was helpful in understanding why you need event planner insurance, what’s included in our policies, and how to get insured. If you have any questions about the above information or about our party planner insurance, feel free to reach out to our licensed insurance agents. We wish you the best of luck while you do what you love most—planning parties!

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