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As an event planning business, there are several types of insurance coverage you may need to protect your business. Here are some of the coverages you should consider:
1. General Liability Insurance: This coverage protects your business from claims of bodily injury, property damage, and advertising injury. For example, if a client or guest is injured at one of your events, this coverage can help cover their medical expenses and protect you from a lawsuit.
2. Professional Liability Insurance: This coverage protects your business from claims of professional negligence or errors and omissions. For example, if a client alleges that your business made a mistake or provided inadequate services, this coverage can help cover legal fees and damages.
3. Liquor Liability Insurance: If your event planning business serves or sells alcohol, you may need liquor liability insurance to protect your business from claims of bodily injury or property damage caused by intoxicated guests.
4. Property Insurance: This coverage protects your business property, including your office equipment and supplies, from damage or loss due to covered events such as fires, theft, or natural disasters.
5. Hired and Non-Owned Auto Insurance: If your event planning business uses personal or rented vehicles for business purposes, you may need this coverage to protect your business from liability claims in the event of an accident.
6. Workers’ Compensation Insurance: If your event planning business has employees, you may need workers’ compensation insurance to protect your business from liability claims related to workplace injuries or illnesses.
In Texas, the coverages listed above are all available from various insurance providers. The specific types and amounts of coverage you need will depend on your business’s unique needs and risks. It’s important to work with an experienced insurance agent who can help you assess your risks and identify the appropriate coverage options for your event planning business.