What Insurance Do Calgary Wedding Planners Need?
Expectations are always high with weddings and you never know what can go wrong. You need to protect yourself as a Calgary wedding planner with wedding planner insurance.
Wedding planner insurance protects you from a wide range of risks from a guest tripping over a cord to not enough meals being ordered. As a Calgary wedding planner, your clients’ weddings are of the utmost importance to you and the couple getting married. Wedding planner insurance helps protect your livelihood.
Your Western Financial Group business insurance expert will give you top-notch commercial insurance advice and ways to help save on wedding planner insurance.
What is wedding insurance for Calgary wedding planners?
Wedding planner insurance is an insurance package specifically designed for Calgary wedding planners because it provides financial protection against lawsuits alleging negligence, and injury or property damage to third parties, among other protections.
Why do Calgary wedding planners need insurance?
Would you want to take the risk of not having wedding planner insurance? You need to be insured to protect yourself and your Calgary wedding business financially. You should also make sure that the different suppliers/vendors you work with when planning a wedding are insured, too.
This type of insurance is for independent wedding planners, wedding consultants, wedding co-ordinators, and wedding planning companies.
How much does insurance cost for Calgary wedding planners?
There isn’t a set insurance price to cover Calgary wedding planners. Here are the factors that are usually considered when calculating the cost of wedding planner insurance:
- Types of wedding services
- Experience, including certifications and designations
- Locations that you serve location
- Any past claims
- Number of employees
- Annual revenue
As a Calgary wedding planner, here’s how wedding planner insurance can protect you:
- You ordered salmon instead of chicken for the main course wedding meal and it’s too late to fix the order. The bridal couple is upset and they will sue you. Professional liability insurance may help cover your legal expenses and related costs.
- One of your employees picks up the groom’s tuxedo and leaves it in the company car’s back seat while going to get some coffee. The tuxedo then gets stolen. Your commercial general liability insurance as part of your Calgary wedding planner insurance can help cover the cost to replace the dress.
- Your Calgary wedding client list and your clients’ payments history was hacked by cyber thieves. Cyber liability insurance helps protect you financially as a wedding planner. Depending on the size of the breach and the information that was taken, your wedding clients who are affected can hold you legally responsible.
A Calgary wedding planner insurance package typically includes these insurance coverages:
Professional liability insurance
This type of insurance is also known as errors and omissions (E&O) insurance and it can protect you financially against claims from wedding clients that you made an error in your planning services due to negligence, wrongdoing, or failing to deliver a service as promised.
Ask your Western Financial Group business insurance expert how much E&O insurance you need as a Calgary wedding planner.
Commercial general liability (CGL) insurance
A wedding guest trips over a cord that wasn’t secured and breaks her wrist and then sues you as the Calgary wedding planner. CGL insurance provides financial protection against legal claims of third-party injuries (the client who broker her ankle and sues you) and property damage.
It wouldn’t be uncommon to have $2 million or more in CGL insurance for your business as a Calgary wedding planner.
Cyber insurance
Cyber liability insurance helps protect you as a Calgary wedding planner if you electronically store financial data like the credit card numbers of clients. Depending on the size of the breach and the information that was taken, the customers who are affected can hold your Calgary wedding planning business liable and sue for damages.
Legal expense insurance
Legal expense insurance gives you access to legal advice or a lawyer for a contract dispute, or to help review a contract related to your Calgary wedding planner business.
Commercial auto insurance
If you’re driving your car to appointments as a Calgary wedding planner, your personal car insurance typically would not provide coverage in the case of an accident. Commercial auto insurance protects you if you are driving your car to appointments to meet wedding clients.
Event liability insurance: Short-term special event liability insurance is essential coverage for Calgary wedding planners. It extends your general liability insurance coverage to cover third-party bodily injuries and third-party property damages that may occur at the venue where the celebration is hosted.
If alcohol is going to be served at a wedding, you may be liable for injuries and damages caused by a guest who becomes intoxicated. Adding host liquor liability insurance to your policy can help address that risk.
Business interruption insurance: This type of insurance supports you when your Calgary wedding planner business can’t operate due to a covered loss, such as a fire, vandalism, or a disruption in your supply chain.
Business interruption insurance can help with these expenses:
- Payroll
- Rent
- Utilities
- Property taxes
- Alarm monitoring
- Relocation of your business
What do I do if I have a claim against me as a Calgary wedding planner?
- Contact your broker immediately after any business-related mishap. Waiting to file a claim can confuse insurers about the severity of the damages to your business.
- Know your policy so that when you contact your broker you are familiar with what will be covered or not.
- Document the damage. Take photos right away and write down what happened.
- Do not throw away damaged goods after taking photos. Keep the physical evidence so that your adjustor can see it.
- Do not invite lawsuits. Don’t say anything that could be used against you, especially if you aren’t sure what happened.
- Be honest about what your damaged property is worth. Damaged commercial property is generally valued according to its actual cash value or replacement value.
Here’s an insurance checklist for Calgary wedding planners:
- Do you have the best Calgary business insurance rate that suits your work?
- Do you have the right amount for your deductible and regularly review it to make sure it’s the right amount for you?
- Are you or your employees using personal vehicles for work?
Western Financial Group has licensed BUSINESS INSURANCE EXPERTS to get you the right insurance coverage as a Calgary wedding planner. Our experts are available now to help you navigate the business insurance journey to protect your wedding planner business.
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