Event Planner Insurance Cost
Most event planners pay between $21 and $30 per month for liability coverage. Affordable coverage? That’s something to celebrate!
If a venue’s waiting on your COI, you’re in the right place. Get proof of insurance in minutes online today.
How Much Does Event Planner Insurance Cost?
Event planner insurance starts at $21 per month or $229 a year for a standard liability policy. This coverage includes claims of damages, injuries, or financial harm your business may cause others (like clients, guests, or venues).
Your exact cost depends on your events, venue requirements, and how much you make in a year.
Most Popular Event Planner Insurance Policies (+ Their Costs)
Every event planner policy begins with general and professional liability insurance. The more planning you do, the more you have to protect!
Insurance Canopy helps you build coverage that fits your schedule and budget, whether you plan five events a year or fifty.
How Much Does Event Planner Insurance Cost From Insurance Canopy?
| Our Average Price | Industry Average | |
|---|---|---|
|
General Liability Insurance |
$679.92 / year |
$884.81 / year |
|
Tools and Equipment Insurance |
$51.64 / year |
$384.41 / year |
|
Workers Compensation |
$1,141.86 / year |
$1,627 / year |
|
Commercial Auto Insurance |
Rates vary |
$1,588 per vehicle / year |
|
Janitorial Bonds |
Rates vary |
$126 / year |
|
Additional Insureds |
$10 / year / AI |
$25 / month |
|
Cyber Liability Insurance |
$99 / year |
$1,740 / year |
Prices reflect the lowest monthly premiums. Costs may vary based on coverage limits, annual revenue, and location.
Factors Affecting Your Event Planner Liability Insurance Costs
The cost of a policy for event planners depends on several factors, like:
- Coverage limits
- Venue requirements
- If you have employees
- Additional coverage or endorsements
- Secondary coverage for the event, vendors, or liquor
One of the biggest factors is whether you are an individual professional or hiring employees. This impacts the type of business you run and how much risk you carry. For example:
No matter how you plan, prep, or party, your business is unique. Your coverage should be too! You can personalize your policy to fit the way you plan. Insurance Canopy makes it easy to dial in what you need and skip what you don’t:
- Additional Insureds
- Tools and Equipment
- Cyber Liability
- Fidelity Bonds
- Excess Liability
- Sexual Abuse and Molestation
- Commercial Auto
- Workers Compensation
- Waiver of Subrogation
- Primary Non-Contributory
Choosing the right event planner insurance policy comes down to weighing important factors like cost and coverage.
Tips for Saving on Event Planner Liability Insurance
Insurance Canopy offers the lowest rates possible for the best quality coverage. While we can’t discount the starting price, you can:Your exact cost depends on your events, venue requirements, and how much you make in a year.
- Opt for Annual Payments
Paying a one-time cost upfront helps you save in the long run. Monthly payments do cost more, and if you hit a slow month, it’s nice to know you don’t have to worry about paying for coverage. - Bundle Your Policies
Getting general and professional liability coverage in one is often less than buying them separately. - Only Pay for What You Need
Not every planner needs every type of insurance. For example, if you’re not serving alcohol yourself or profiting from the sales, you don’t need liquor liability insurance!
Tools and Equipment Insurance
Tools and equipment coverage, also known as inland marine insurance, is meant to cover the cost of repairing or replacing your business equipment if it gets damaged or stolen.
This insurance protects your essentials — from power wands to upholstery tools — so you can rest easy knowing the equipment you need to keep your business up and running is covered.
| Limits (Occurrence / Aggregate) | Premium per month | Premium per month | Deductible |
|---|---|---|---|
|
$1,000 / $3,000 |
$3.33 |
$40 |
$500 |
|
$2,000 / $6,000 |
$4.58 |
$55 |
|
|
$5,000 / $10,000 |
$5.00 |
$60 |
|
Workers Compensation
Maneuvering heavy equipment and encountering wet floors are common risks in the carpet cleaning industry. If one of your employees gets hurt on the job, workers compensation can cover costs like medical expenses and lost wages.
Your cost for this coverage will vary based on your specific needs and requirements. Also, keep in mind that you won’t be able to purchase this coverage if you are in a state that handles workers’ comp monopolistically.
Annual Premium: $1,141.86
Because workers compensation laws differ from state to state, your coverage limit depends on your state’s specific statutory requirements.
Employers’ Liability Coverage Limits
The maximum coverage for damages resulting from bodily injury by disease for any number of employees.
$1,000,000 Policy Limit
The maximum coverage for bodily injury to one or more employees in any one accident.
$1,000,000 Each Accident
The maximum coverage for damages resulting from bodily injury by disease for any number of employees.
$1,000,000 Each Employee
Commercial Auto Insurance
Your personal auto policy won’t cut it if you use your vehicle for business. Commercial auto insurance is designed to cover accidents, property damage, and liability claims while transporting your carpet cleaning equipment or traveling to job sites.
Let’s say you’re on your way to a client’s home when another driver runs a red light and crashes into your van. Without commercial auto insurance, you could be stuck paying for repairs and medical bills out of pocket.
Janitorial Bonds
Many people hiring carpet cleaners and other contractors prefer (or even require) proof of insurance and bonding. A bond gives your client peace of mind, guaranteeing you’ll complete your work according to agreed-upon standards and handle any mishaps in a professional manner.
If things get messy, this bond steps in to cover the costs, keeping your reputation spotless.
Insurance Canopy offers two bond options to fit your business needs.
| Bond Option | Annual Cost |
|---|---|
|
$5,000 Bond |
$131 |
|
$10,000 Bond |
$175 |
Additional Insureds
An additional insureds is a qualified third party (like a client or landlord) you add to your insurance policy. It’s common for commercial clients, property managers, and others to require this as a condition of awarding you a contract. As an additional insured, this extends your policy’s protection to them should a mishap arise from your work.
For instance, if a local restaurant hires you to deep clean after hours and a beverage vendor trips over your equipment, hits their head, and needs stitches, the vendor might sue both you and the restaurant to cover their medical expenses.
Because this happened due to your business operation, your policy can cover both you and the restaurant named as an additional insured. This makes working with you more attractive to third parties who could be negatively impacted should something like this occur.
Price per additional insured: $10/year
Cyber Liability Insurance
Many carpet cleaners have websites that gather and store sensitive client information and process payments online. While the digital world we live in makes a lot of business activities easier, working online has inherent risks, including data breaches and other cyber crimes.
Cyber liability coverage can help you with:
- Data breach notification costs
- Customer data loss
- Ransomware and cyber extortion
- Legal fees
- Business interruption fees
|
Monthly Premium |
$8.25 |
|
Annual Premium |
$99.00 |
|
Coverage
|
$100,000 Cyber Coverage Limit
including $50,000 in E-Theft Coverage
|
Factors Affecting Your Event Planner Liability Insurance Costs
The cost of a policy for event planners depends on several factors, like:
Size of Your Business
The bigger the operation, the bigger the bill. More employees and higher risk can pump up your premiums, as larger businesses often deal with more claims and liability issues.
Location
Your location plays a big role in your rates. Local risks—like crime rates, natural disasters, and specific regulations—can all impact the cost of your carpet cleaning insurance.
Claims History
Got a few claims under your belt? That can drive up your premiums. If your carpet cleaning business has a track record of frequent claims, insurers might see you as a higher risk.
Coverage Limits
Find the sweet spot between what you need and what you can afford, so you’re neither under- nor over-insured.
Additional Coverages
Adding extras like tools and equipment insurance or workers’ comp? Expect a premium hike. While these add-ons offer valuable protection, they also come with extra costs.
Other Cleaning Professions We Insure
Think your work might be a little outside the box? Our coverage is broader than you might think. Contact us today!
Get Instant Insurance for Your Carpet Cleaning Business!
Ready to clean up with the best coverage for your carpet cleaning business? No dirt, no drama—just unbeatable rates and comprehensive protection. Get covered today with Insurance Canopy and keep your business as spotless as your carpets!
Allison Kirschbaum | Copywriter
Digital Content Specialist, Allison Kirschbaum leverages her experience in providing in-depth content such as blogs, whitepapers, and downloadables about insurance, liability, and the challenges small businesses face every day. Before working at Veracity, Allison freelanced her copywriting skills, including optimizing rankings and generating leads across various sectors. She is now fully trained on Insurance Canopy’s products and helps small business owners navigate their insurance needs.
Digital Content Specialist, Allison Kirschbaum leverages her experience in providing in-depth content such as blogs, whitepapers, and downloadables about insurance, liability, and the challenges small businesses face every day. Before working at Veracity, Allison freelanced her copywriting skills, including optimizing rankings and generating leads across various sectors. She is now fully trained on Insurance Canopy’s products and helps small business owners navigate their insurance needs.
Kyle Jude | Program Manager
Kyle Jude is the Program Manager for Insurance Canopy. As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for small business owners who are looking to navigate business liability insurance.
Kyle Jude is the Program Manager for Insurance Canopy. As a dedicated program manager with 10+ years of experience in the insurance industry, Kyle offers insight into different coverages for small business owners who are looking to navigate business liability insurance.