{"id":2624,"date":"2016-11-18T14:15:53","date_gmt":"2016-11-18T14:15:53","guid":{"rendered":"http:\/\/theeventu.com\/?p=2300"},"modified":"2019-03-16T16:18:34","modified_gmt":"2019-03-16T16:18:34","slug":"covered-insurance-event-planners-explained","status":"publish","type":"post","link":"https:\/\/theeventu.com\/individuals\/blog\/covered-insurance-event-planners-explained\/","title":{"rendered":"Are You Covered? Insurance For Event Planners Explained"},"content":{"rendered":"

“As an event planner, it\u2019s your job to be a master of implementing calm and collected problem solving, even amidst the worst-case scenarios.”<\/span><\/strong> –Tweet This Quote.<\/a>\u00a0 You have so many balls in the air; there are venues to find, vendors to hire, and entertainers to book. If something goes amiss, you need a backup plan\u2014and another backup plan if that one fails.<\/p>\n

<\/p>\n

The question is, do you give your own protection the same careful attention to detail? In an industry where a client’s dissatisfaction can quickly become a lawsuit, the fact remains that you need to think in worst-case scenarios and have a plan in place to handle them. That is why a fundamental piece of the risk assessment <\/a>and mitigation puzzle is ensuring you have the proper insurance in place. Fortunately, there are several options for event planners. The following list provides you with some of the more common types of insurance to seek in the event planning world to mitigate risk and run a highly successful business:<\/p>\n

GENERAL LIABILITY INSURANCE<\/strong><\/p>\n

GLI offers basic liability protection. In the event that a third party sues your event planning business, your policy will kick in to cover the cost of the lawsuit and the damages.<\/p>\n

PROPERTY INSURANCE<\/strong><\/p>\n

When you have a commercial property insurance policy, you can secure your business essentials against loss or damage caused by fires<\/a> and accidents, theft and vandalism, tornadoes, and other events, such as power surges.<\/p>\n

INLAND MARINE INSURANCE<\/strong><\/p>\n

This type of insurance offers you peace of mind by following your insured items wherever they go (whether you\u2019re in your office or a thousand miles away). That way, if a fire destroys your items when you are at a venue, or someone swipes your laptop when you’re at a client meeting, you will be compensated for the replacement value of your property.<\/p>\n

WORKERS’ COMPENSATION INSURANCE<\/strong><\/p>\n

At some point in your career, you will need the help of a team to run your event planning business. When you have employees, your business can be held responsible for the cost of their medical bills if workers are injured while carrying out their duties. Worker\u2019s comp, as it\u2019s more commonly called, can help offset these costs by covering expenses related to your employees’ on-the-job injuries or illnesses, such as:<\/p>\n

\u2022 Medical expenses, including immediate medical attention, surgery, and treatment.<\/p>\n

\u2022 Lost wages while your employee recovers from a work-related injury or illness.<\/p>\n

\u2022 Court costs if your employee sues your business for an injury.<\/p>\n

\u2022 Support payments to dependents and funeral costs when an employee dies from his or her job-related accident or illness.<\/p>\n

ERRORS & OMISSIONS INSURANCE<\/strong><\/p>\n

Also known as Professional Liability Insurance or E&O Insurance, this is a go-to policy for any business that offers professional services. Because a client can sue you simply because he or she is dissatisfied with your services\u2014even when you’ve done everything you agreed to do\u2014this policy can save you from going bankrupt over a drawn-out court case.<\/p>\n

Unfortunately, litigation has become more of a concern for event planners. Twenty years ago, the industry never saw someone sue a planner, client, or venue because he fell and twisted his ankle at an event. Weapons are also a fairly new development for events. People may have carried them a few years ago, but they didn\u2019t start becoming a major security concern until recent years. You must have a way to protect yourself from such unforeseen but increasingly common event mishaps and issues.<\/p>\n

All of these insurance policies can seem like an annoying expense\u2014but look at it more like an investment. You are investing in the longevity and health of your career, avoiding countless legal headaches, and mitigating risk by being smart and getting insurance you and your growing business need.<\/p>\n

Find out why many event professionals have taken their planning careers to the next level by reading \u201cGOING LIVE.\u201d Your FREE digital copy awaits you HERE: http:\/\/goinglive.theeventu.com\/<\/a><\/p>\n

 <\/p>\n

\n

Have you spent countless hours searching for an online corporate event planning course to help you learn the intricacies of planning a successful event?<\/h4>\n

YOU CAN STOP SEARCHING!<\/h1>\n

Register now for E.P.I.C<\/h2>\n Go E.P.I.C.<\/strong><\/a>\n \"E.P.I.C.\n<\/div>","protected":false},"excerpt":{"rendered":"

“As an event planner, it\u2019s your job to be a master of implementing calm and collected problem solving, even amidst the worst-case scenarios.” –Tweet This Quote.\u00a0 You have so many balls in the air; there are venues to find, vendors to hire, and entertainers to book. If something goes amiss, you need a backup plan\u2014and
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