Insurance for Wedding Planners
Wedding planners are important people to their customers during an extended period of time. While some weddings are planned and executed within just a few months, the majority tend to take twelve to eighteen months worth of hard work. Your clients count on you to provide for everything they don’t know or don’t think about beforehand. You worked hard to start and grow your business, be sure you have it fully protected from losses with small business insurance.
General liability insurance protects your company when accidents, hazardous situations, or unexpected risks arise. This coverage protects your company from severe financial losses while also protecting your clients and customers. General liability grows with you, so if you add offices, products and services to your wedding planning company they will be automatically protected with the normal coverage in this insurance policy. Some of the key areas of protection a general liability policy gives you are:
General Liability Insurance Includes:
- Premises Liability – When customers visit your offices or retail wedding planning location, they do so with the trust that they will remain safe and unharmed. Sometimes accidents happen however, that can cause physical injuries to your clients. Other accidents may bring damages to your client’s personal property. Your premises liability coverage will pay for the customer’s medical treatment when they’re injured, and it will pay for repairs if personal property gets damaged at your business location.
- Products Liability -If you sell products to your clients there is a small risk that problems will arise with those products later. Sometimes there is a problem in manufacturing, shipping, or even the materials the product is packaged in. Your clients may sue your wedding planning company if they are harmed by products they buy from you. Products liability coverage can pay for injuries or damages that result, and it can pay for your legal defense costs if necessary.
- Completed Operations – After you have completed a wedding planning project for your client’s, they may decide later that all or part of your services caused pain, suffering, damages or injuries. Completed operations insurance can pay for your legal defenses, pay the customer’s settlements or judgments, and pay for medical or repair bills that resulted.
Business Owners Policy (Bop)
General liability insurance is included in a business owners policy, or BOP. A BOP provides you with direct protection for your business assets. This insurance is customizable, and can include coverage for tangible or intangible business assets. For example:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Business auto insurance protects your company when auto accidents happen. It can pay for physical injuries and property damages, plus additional levels of coverage can protect your vehicles from losses due to theft or damages caused by natural events.
If your wedding planning company employs other people, you must carry workers comp coverage for them. This insurance protects your employees from having to pay the medical bills if they are ever injured on the job.
Umbrella insurance can give your company extra protection. If your other business insurance policies reach their maximum limitations on a claim, your umbrella policy can take care of the difference.