Securing insurance is a wise decision. People purchase insurance for their house, car, and life. People buy insurance to protect themselves and investments. Insurance in event planning can protect your events as well.

Special Event Liability Insurance

Insurance for event planning is a good idea for a few reasons. First, insurance protects your office and its belongings against theft or fire. Insurance also protects your events. For example, as the result of a staff member's actions, damage was done to your client's property during an event. Your insurance would cover the damage.

You might also consider using commercial license plates for your vehicle. Commercial insurance for your car will give you more coverage. Commercial plates will allow you to park in designated parking spots, which is convenient if you work in a city.

Your client can also purchase special event liability insurance. As his event planner, you should also strongly urge your client to buy event insurance.

Client Event Insurance

Insurance purchased by a client for his event may cost only a few hundred dollars. It can protect thousands of dollars worth of event costs. Client-event insurance can protect a client's deposits with vendors. If a vendor closes her doors before the event without returning the deposit, event insurance will cover the loss. Also, if a vendor has a fire in his shop — say, a photographer, for instance — the insurance will cover the cost to replace the photographs.

In cases where an event may need to be postponed or cancelled due to weather or unforeseen circumstances, event insurance will cover any charges. It will also cover lost or damaged gifts, damage to the venue, and personal liability.

Certificate of Insurance

Venues usually carry their own insurance, but some require the client to buy additional coverage for certain events. This insurance will protect the venue and client against damage and bodily injury claims. A certificate of insurance is a document outlining the insurance coverage.

Proof of Liability Insurance

Proof of liability insurance is evidence to the venue the client has purchased insurance. Venues are increasingly requesting special event liability insurance for large events like weddings. The venue may also request to be listed on the policy to protect itself against lawsuits. Depending on the insurance carrier in your area, event insurance can start at around $200.