Event planner insurance: The security you need to balance risks

Why do event planners need liability insurance?

Every good event planner needs the ability to stay cool in intense pressure situations when organizing a big function like a party, wedding, corporate meeting, or convention. No matter how much you plan for an event, however, you never know when you will get thrown a last-minute curve ball.  
 
Imagine what would happen if that unforeseen glitch resulted in your company being hit with a legal claim? That’s why it’s imperative that you bring the same attention to detail to protecting your own small business as you do to organizing your clients’ events. Keep reading to learn top concerns of event planners and what types of insurance policies are best suited to the needs of event planners.  

Preparing for the worst: Top concerns for event planners and managers

1. Party and social event planners

For party planners coordinating special birthdays, anniversaries, holiday parties, and baby showers, top concerns include:

• Property damage at venues
• Guest injuries (slips/falls, alcohol-related incidents)
• Vendor no-shows or failures
• Weather-related disruptions for outdoor events

2. Wedding planners

Risks and mitigation are at the forefront of many wedding planners’ minds for good reason - many things could go wrong during a wedding day, when hopes are high for the marrying couple and their families. Wedding planners must prepare for:

• Vendor failures (florists, photographers, caterers)
• Emotional, high-stakes client expectations
• Venue accidents or damages
• Timeline disruptions (due to illness, weather, or travel delays)

3. Corporate meeting and conference planners

Professional meeting planners who are executing high-profile executive retreats, trade shows, client events, or seminars have top concerns surrounding:

• Technology failures (A/V, virtual platforms)
• Venue and equipment damage
• Transportation and logistics issues
• Liability for large groups in public or rented spaces
• Data or privacy breaches (especially for virtual/hybrid events)

4. Convention, festival, and large-scale event organizers

Think music festivals, expos, sporting events, fandom conventions; these kinds of events and event planners have safety and security top-of-mind, in addition to logistics and execution. Their top concerns might be:

• Crowd control and attendee safety
• Vendor and equipment liability
• Permitting and city ordinance compliance
• Weather-related cancellations
• Public health or security issues

From small-to-large scale events and the risks therein, event planner coverages and policies are available to help cover risks associated with protecting your reputation, client expectations, people’s security both physical and digital, and everyone’s safety.  

Risk management is part of the plan

Event planners thrive on organization, creativity, and problem-solving—but no amount of planning can prevent every mishap. That’s where small business insurance comes in. From a slip-and-fall at a birthday party to a cyber breach during a virtual conference, the right coverage can keep your business protected, professional, and prepared. Here are the top recommended types of insurance for professional event, wedding, and meeting planners.

Professional liability insurance for event planners

Sometimes referred to as errors and omissions or E&O, professional liability insurance is a necessity for event planners. This type of coverage protects you if a client claims you did something wrong or neglected to do something you were supposed to do.  
 
For example, you’ve been hired to run a big fundraising gala for one of your charity clients. It’s a lavish black-tie affair in your city’s oldest and most exclusive venue: the art museum. Press and VIPs are invited, a celebrity auctioneer has been lined up, and top-quality caterers and a band have been hired. But a mix-up between your office and the venue manager means the museum has mistakenly been booked for the week the event is scheduled to take place.  

The charity is very unhappy. This was going to be the highlight event of their fundraising calendar, set around the few dates when their biggest donors had availability. These donors were traveling from far and wide, many had flights and hotel accommodations already booked. The irate director of the charity calls you to tell you that the charity’s board blames you and wants redress. A week later you’re greeted with a letter from the charity’s attorney advising you are being sued for negligence.  

Even the best event planner would be forgiven for freaking out in this situation. Your company is being dragged through the courts by one of your most prestigious clients, and your company’s hard-won reputation is now hanging by a thread. In this type of situation or in the event you are sued for negligently performing your services, even if you haven't made a mistake, professional liability insurance is a key tool all event planners should have to ensure their businesses are protected.  

General liability insurance for event planners

Every event planner also needs general liability insurance. Picture this, you’re organizing a trade show with hundreds of exhibitors. One of them trips over a toolbox left behind by one of the contractors you’ve hired. This accidental trip leaves the exhibitor with a broken wrist which they claim to be your fault for not ensuring all walkways were kept clear.  
 
What a headache this situation could be if you didn’t safeguard your business with a General Liability policy. Because you’re an event planner and known for your superior organization, you did manage to secure a policy and now your general liability could help pay for the injured exhibitor’s claim for bodily injury and related medical costs.   
 
Don’t have a general liability policy yet? Learn more or get a free quote now!

Event planner cyber security

If you have a website for your Event planning business, especially if you store sensitive information (think credit cards, social security numbers, etc.) you should certainly consider adding cyber security insurance to your insurance portfolio. Cyber insurance covers the costs associated with a hack or data breach, including ransomware demands.  

In addition to the above protection, a cyber policy with Hiscox also includes a suite of training tools to help you prevent a cyber incident in the first place, as well as crisis management services from breach response experts. Discover all the benefits of cyber security insurance.  

What about BOP for event planners?

Many event planners operate from an office location (whether home, rented space, or perhaps even a purchased commercial building). Your office would naturally have computers, printers, mobile phones, office furnishings, etc. To protect these assets, consider a Business Owner’s Policy (BOP) even if you don’t own your business premises. This includes General Liability coverage, plus first-party coverage for your own business property – so you don’t need a separate GL policy for your business.  

The peace of mind a Business Owner’s Policy gives you is invaluable when you consider a situation where your office is broken into, and your computer is stolen or damaged. You can see all the benefits of BOP here.  

Related: How to choose the best insurance for my small business  

Liability insurance for event planners could be a competitive advantage

Event planners’ insurance helps you manage risk and enables your business to grow safely, however, it can also give your planning business a leg up on your competition.  
 
Potential clients often consider insurance a must when hiring an event planner. Everyone understands the high stakes and risk that accompany the orchestration of a big event. When clients see your certificate of insurance and that you’ve prepared for the worst, it can give them more confidence in your planning services, knowing that you don’t overlook things that are important. 

Safeguarding your small business with liability insurance allows you to “wow” your clients with outside-the-box ideas that may have been out of reach without insurance. Knowing you are protected from unexpected mishaps will encourage you to display your flare for planning and coordinating, helping you create a truly memorable event. 

Bottom line: With event planners’ insurance, accidents won’t get in the way of your success. Your peace of mind and financial protection are immediate payoffs after purchasing a policy. Continue to plan parties of a lifetime while protecting yourself with the coverage options we outline above. 

Why do event planners choose Hiscox?

As an event planner, you’re aware that when planning functions, no matter how big or small, you always plan for the best but prepare for the worst. That’s exactly what you need to do for your own business by making sure you get the right event planner insurance coverage, so when an unexpected issue arises, it doesn’t wreak havoc on all the best-laid plans you’ve made for your business. Let Hiscox help protect your dreams. Get started with a free quote today.