Wedding planners are passionate about their work and love to help brides and grooms make their dreams come true on their wedding day. But every wedding planner knows that unexpected things can greatly affect plans, sometimes at significant financial cost. As professionals offering services in an uncertain business, it is important to purchase wedding planner insurance to protect their financial investment in their business.
Currently, there are over 50,000 wedding planners in the United States. Most planners typically operate their own business and work with clients one-on-one. Unfortunately, many do not have any type of insurance. It is only after a potential customer demands that they have coverage, do planners look into purchasing insurance.
Weddings may be considered “low risk”, compared to large events like concerts, marathons, and carnivals. However, it is better to be prepared than to be held liable for a lawsuit. Be the wedding planner that stands out from the crowd. Show that you are a responsible business owner and carry event planning insurance.
Wedding planner insurance most frequently includes general liability insurance to cover a planner in the event that a client alleges negligence or other professional errors. Often called Errors and Omissions coverage, this type of insurance is something all wedding planners should consider.
Third party claims are covered under general liability insurance. This includes bodily injury or property damage that occurs during the operation of your business. For example, if you have potential clients meet with you at your office, and an individual trips over your stack of wedding magazines and research, any doctor or hospital visits will be covered. If they decide to sue you, general liability insurance will help to pay for your defense costs.
Professional liability is a second type of insurance that wedding planners should consider purchasing. Much like wedding photographers, it is important to protect your business, should a client decide that you failed to deliver upon your promised services. You may have told the wedding couple that you would help to create a beautiful ceremony and a reception that they wouldn’t soon forget. Unfortunately, they can hold you liable if they decide that their wedding wasn’t as memorable as it should have been.
You have chosen a profession that allows you to get out of the office and travel, meet with clients in their homes, and shop different vendors. This means that you are “on the road” many hours of your work week. Any equipment, like your computer, cell phone, planner, and samples that you take with you will be protected if you purchase inland marine insurance. If anything were to be damaged while in transit, then this type of insurance would help to cover the costs to replace it.
Depending on the nature of the wedding planning business, other coverage may be required, such as workers compensation to cover other employees of the business. Look into small business insurance as well. It doesn’t matter if you have a store front, work from home, or from your car, wedding planners are business owners and should have the proper insurance protection.
Even if you only work during wedding season, there are policies available to you.
An independent insurance agent can aid wedding planners in determining what types of coverage are most appropriate for their business. You can obtain coverage with as little as $100,00 in insurance limits, or as much as $5 million, depending upon the insurance you plan to purchase. Wedding planners can concentrate on offering the best planning services possible while leaving the insurance expertise to a professional agent.
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Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.
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