Compare business insurance quotes with Savvy to find the best policy to cover your event management business.
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Whether you’re an event planner who specialises in managing lavish weddings, music festivals or small charity fundraisers, you’ll want the peace of mind that comes with knowing you have insurance to cover any event just in case something goes wrong. If an accident does happen and someone gets hurt or property is damaged, you’ll want protection against potentially expensive claims.
You can compare quotes for many types of business insurance here with Savvy. Just answer a few simple questions about the event (or events) you’re organising and the insurance you need, and within minutes you’ll have multiple quotes from a range of respected insurers to compare. Use our quick and easy comparison service to make sure you get the best-value insurance to protect your business today.
Some of the main types of business insurance you should consider if you’re an event planner are:
Public liability insurance
Public liability insurance is essential for anyone responsible for planning or holding an event, whether it’s an ongoing booking or a one-day event. Whether you’re a wedding planner or organising a charity fundraiser, public liability insurance will protect you against claims that your business or charity activity caused injury to a member of the public, or damaged the property of a third party in some way.
This insurance can offer between $5 million and $20 million worth of coverage and is compulsory for many event planners. In addition, many councils and private landlords insist on seeing proof of public liability insurance before hiring out halls, venues or council-owned public areas.
What it covers:
Professional indemnity insurance
Professional indemnity insurance covers you against claims that the advice, recommendations or service you provided were either negligent or incorrect. It’s an important type of insurance to have for event organisers or wedding planners who offer advice about event management and organisation to multiple members of the public. Cover is available starting from $250,000 up to $10 million or more.
What it covers
Business equipment insurance
Equipment insurance is a type of business insurance which covers the things you use every day in your business to make money. For example, this might include trestle tables and chairs, umbrellas, marquees, wedding arches and all sorts of other equipment an event organiser may need to make that special day run smoothly.
It will cover the cost of repairing or replacing your equipment if your business should happen to suffer an insured event such as a fire, storm, theft or impact. It not only covers items you own, but also rental equipment you may have hired.
What it covers
Cyber liability insurance
Unfortunately, there are many criminals online trying hard to get their hands on personal information. Cyber liability insurance can protect your business from a variety of forms of cybercrime if you find yourself the target.
What it covers
What isn’t covered under my event management business insurance?
The most common general exclusions include:
There is no set cost for a business insurance policy, as each applicant is different and faces unique risks. Many factors influence the cost of business insurance, including the following:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.
However, the cost of public liability insurance for a company in the Northern Territory may not be the same as the cost for a similar event planning business in Adelaide, as location also plays a part in determining insurance risk.
You can find out how much public liability insurance will cost for your planned event by comparing quotes right here with Savvy. Whether you need insurance for a market stall or your wedding planning business, you’ll be able to find a policy which is perfect for your business needs right here.
You may have worked hard to make sure the event or wedding you’ve organised runs like clockwork, but the most bizarre and unexpected accidents can happen during public events (particularly when the consumption of alcohol is involved). The newly-married couple who stepped off a jetty backwards during their photo shoot may have made the headlines, but there are countless other tales of drunk wedding guests injuring themselves and destroying event equipment.
Most small to medium-sized businesses have some contingency funds, but rarely sufficient to cover the cost of a major catastrophe. For example, if your wedding event is being filmed by a drone, the drone operator you’ve hired may have drone insurance to cover their equipment, but what would happen if it flew out of control and seriously injured a guest?
A personal injury claim by the injured party against you, as the event organiser, could end up costing your business thousands of dollars, if not much more. To protect yourself and your family from personal liability, comprehensive business insurance is a must for all event organisers.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
