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Business Insurance For Events

Compare business insurance quotes with Savvy to find the best policy to cover your event management business. 

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, updated on July 27th, 2023       

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We’ve partnered with BizCover to bring you a range of business insurance policies to help you compare them side by side.

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.

What types of insurance should I buy to cover my event management business?

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:  

  1. Third-party personal injury claims 
  2. Damage to a third party’s property 
  3. Legal fees to defend yourself 

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 

  1. Payment of compensation if there’s a successful claim against you 
  2. Payment of court-awarded damages to the litigant 
  3. Cover for your legal defence costs 
  4. Cover for the cost of any investigations into an accident by any statutory authority 

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 

  1. Plant, tools and machinery 
  2. Computers 
  3. Fixtures and fittings of a business premises 
  4. Goods held by you which belong to others (such as hired equipment)  
  5. Business books, records and other vital paperwork 
  6. Electronic equipment such as point of sale terminals (EFTPOS machines) 

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 

  1. Data breaches including theft of client information 
  2. The cost of a forensic investigation into the cause of the breach 
  3. Data recovery costs 
  4. Cyber extortion and denial of service threats 
  5. Crisis management costs 
  6. Advertising and communicating with customers 
  7. Legal costs including any fines and penalties imposed 

What isn’t covered under my event management business insurance?  

The most common general exclusions include: 

  1. Injury to yourself or your employees (which is usually covered by workers compensation insurance) 
  2. Glass breakage 
  3. Flood damage 
  4. Unlawful activity or criminal negligence 
  5. Reckless behaviour or intentional damage 
  6. Anything to do with asbestos 
  7. The effects of pollution caused by your business activity 
  8. Damage to computer hardware caused by hackers 
  9. Upgrading of a computer system not related to cybercrime 
  10. Prior known circumstances or risks 

How much will my event business insurance policy cost? 

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 state you’re in  
  • Whether you live in a rural or urban area 
  • Whether you’re a sole trader, are in a partnership or run a larger business 
  • Your business size and turnover  
  • If you have any employees 
  • Whether you require ongoing insurance or cover for a single or one-day event 
  • Your insurance history 
  • Whether you’ve made an insurance claim in the past five years 

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.

Why do I need business insurance for my event planning business?

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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Frequently asked questions about insurance for event management businesses

Can I get public liability insurance for a one-off event?

Yes – public liability insurance is available for one-off, single-day events such as charity fundraisers, concerts or community events. Through Savvy, you can quickly get a range of quotes for public liability insurance for your event so you can compare them and find one that represents the best value for your business. 

What information will I need to make a claim?

The information you should have to hand when you contact your insurance company to make a claim will include: 

  • The name of the policyholder 
  • Your policy number and start date (which can be found on your Certificate of Currency) 
  • A detailed description of the incident (what happened to cause the damage or loss) 
  • Specific dates and times when the incident happened 
  • Contact details of any other parties involved (or witnesses to the event) 
  • Details of your police report number (if a crime took place) 
  • Details of the property lost or damaged (including its age and value) 
  • Your bank details for settling the claim
Are my business insurance premiums tax-deductible? 

Yes – the Australian Taxation Office recognises that having business insurance is a legitimate cost of doing business, so the full cost of your insurance premiums can be claimed as a business expense and offset against your income

Is it cheaper to bundle several different types of event insurance together?

It can often work out to be far cheaper to buy your insurance as a bundle with one insurer, rather than having separate policies.  By getting a quote through Savvy, you can compare the cost of different policies against a bundle package from a single insurer, to make sure you get the best value on your deal.  

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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.

Business Insurance for Events

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