Minnesota Wedding Planner Insurance

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Minnesota Wedding Planner Insurance Policy Information

MN Wedding Planner Insurance

Minnesota Wedding Planner Insurance. As a wedding planner, your job to ensure that everything for the wedding is in place so that the bride and groom can focus on their big day. This day should be a beautiful one for your clients, which is why you should try to anticipate anything that could go wrong. Although you can try to ensure that everything is in place, you may still miss some things.

Things such as inclement weather, vendors not sticking to their responsibilities, injuries and a host of other things. Many of these things you've probably experienced at one time or another which is why it's important to protect yourself by having insurance. In this post, we'll discuss the different Minnesota wedding planner insurance plans you can get to protect your business.

Minnesota wedding planner insurance protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.

Why Do Wedding Planners Need Business Insurance?

Insurance is important to your business. It helps you to protect your business from anything that can go wrong beyond your control. There are many different policies you can get for your business as a wedding planner. Let's take a look at some of the specific types of Minnesota wedding planner insurance you can use to protect your wedding planning operation.

Commercial General Liability: The guests, vendors, delivery persons and any other person at the location of your event can slip, trip or fall and be injured. Although you're not entirely responsible for the safety of guests at the site of your event, you still can be held liable. If you work from home, and you have client meetings there, you can be liable if a person gets injured while on your property.

General liability insurance protects you from third-party bodily harm and property damage claims made against your business. If there's a lawsuit against you, then this insurance helps to cover any costs associated such as legal fees or court costs. This Minnesota wedding planner insurance also covers settlements or judgments and medical expenses.

Professional Liability Insurance: To adequately protect your wedding planning business a wedding planner must have professional liability insurance - also know as errors and omissions (E&O). This insurance coverage protects you when a client suggests that the services you provided were not up to standard, negligent or caused them harm. This insurance covers any mistakes made in your business. When a client isn't satisfied with the services you offered, you must have Minnesota wedding planner insurance to protect you if they sue you.

Business Property Insurance: As a wedding planner, you should have business property insurance. By having this insurance, you protect the equipment you use for the operation of your business. This insurance protects your office equipment, files, computers, tablets, and smartphones. It also helps to cover property damage as a result of fire, vandalism, smoke, theft and weather events.

If you operate from a home office, you should still include business property coverage. Your homeowner's insurance policy probably doesn't include coverage for your business property in your home which is why it's important to have this insurance. You should also include flood insurance or earthquake insurance especially if you live in areas where these types of events are common.

Other Insurance Policies For A Wedding Planner

Workers Compensation: When people work for you, it is mandated in most states that have workers comp for any non-owner employees. MN Workers comp coverage is the insurance that helps you to protect your employees. If an employee is injured while working for you, this Minnesota wedding planner insurance helps to cover any expenses associated with the injury. Also if an employee dies as a result of their sustained injuries this insurance will pay benefits to the surviving family.

MN Commercial Auto Insurance: As a wedding planner, you are sometimes going to use vehicles to transport equipment for your business. This makes having insurance to protect your business vehicles important. You can never predict what can happen on the road but having this insurance protects you when something does. If a vehicle you use for your business causes property damage or third-party bodily harm commercial auto insurance will keep you covered.

Minnesota Wedding Planner's Risks & Exposures

Premises liability exposure is generally low as visitors to the event planner's premises are few. While the facility owner would be primarily responsible for any injuries to guests on the rented facility premises, the event planner could incur liability for recommending the facility to the customer.

The event planner should require additional insured status and certificates of insurance from all vendors. Contracts must be clear as to all responsibilities.

Workers compensation exposure can be very high if employees set up, build, or transport stage settings, equipment, lighting, and scenery. These activities can result in back injury, hernia, slips and falls, strains, and sprains. Stage and lighting setup may involve above-ground exposures that need additional protection and precautions.

Adequate security and training must be provided if employees handle money at events due to the possibility of holdups. Security personnel may suffer injury not only from theft but also from unruly patrons. The event planner should require additional insured status and certificates of insurance from all vendors. Contracts must be clear as to all responsibilities.

Property exposures are limited on premises to that of an office containing telecommunication equipment, computers, and printers. Ignition sources include electrical equipment, heating, and air conditioning. Electrical wiring must be up to code and be adequate for the occupancy. Off-premises property exposures are higher but are from property of others which should be covered on an inland marine bailees form.

Crime exposure is from both employee dishonesty and money and securities. Background checks should be conducted on all employees handling money. The event planner consolidates vendors' bills and sends one bill to the customer. Employees who are in charge of ordering must not be the same ones who handle disbursements, deposits, and billings.

Frequent inventories and audits must be conducted. If tickets are sold at events, a significant amount of cash may accumulate. There must be adequate security from guards, plus regular deposits.

Inland marine exposures include accounts receivable if the planner offers credit, bailees' customers for property of others at event sites, computers, and valuable papers and records for clients' and vendors' information.

The bailees' exposure can be very high because of the wide variety of equipment that must be rented to provide sound and lighting at events, plus any rented furnishings or display scenery.

Business auto exposure is generally limited to hired nonownership for employees running errands. If company vehicles are supplied for use, all drivers must have a valid driver's license and acceptable MVR. There should be written procedures regarding personal use by employees and their family members. Vehicles must be regularly maintained with documentation kept in a central location.

MN Wedding Planner Insurance

Owning a wedding planning business exposes you to lawsuits and other risks. For this very reason, you must get insurance to protect your business. You can never predict what can go wrong in your business, but you can put measures in place to protect your investment. After reading this information, you should have a better idea of the different insurance policies you can use to protect your business. Get insurance today and protect your business for a lifetime.

Minnesota Economic Data And Business Insurance Regulations

Made In Minnesota

If you're an entrepreneur who is thinking about starting a business or expanding your company by opening a division in a new location, you know that there are a number of factors you have to consider. One of the most crucial elements business owners must take into consideration is the conditions of the location they are interested in; the area needs to offer conditions that are favorable for the business in order for the operation to thrive. A suitable target demographic and a healthy labor market are just some of the elements that indicate whether or not a business will thrive.

For business owners who have Minnesota in mind as their base, below, we've highlighted key details that suggest whether or not the Land of 10,000 Lakes offers favorable conditions for business owners. We also discuss the forms of commercial insurance that businesses are required to carry in the state.

Economic Trends For Business Owners in Minnesota

The unemployment rate of a state is a good indication of whether or not a state is suitable for business operations, as it provides insight into the labor market. According to the Bureau of Labor Statistics, as of May 2019, the rate of unemployment in The Gopher State was 3.3 percent, while the national average was 3.6 percent. While there has been a slight increase from 2018 (0.5 percent from June 2018 to May of 2019), the rate still indicates that the labor market in the state is favorable, which is a good sign for entrepreneurs.

Anywhere throughout the North State offers suitable conditions for businesses; however, there are some areas that are particularly ideal. These areas either large cities or areas that surround the state's largest cities, including:

  • Alexandria
  • Eden Prairie
  • Edina
  • Golden Valley
  • Little Canada
  • Mendota Heights
  • Minneapolis
  • Minnetonka
  • Roseville
  • St. Paul
  • Thief River Falls

Certain industries do better than others in MN, and businesses that are centered on these industries have a greater chance of achieving success. The leading industries within the state include:

  • Agriculture and forestry
  • Bioscience
  • Hospitality and tourism
  • Information technology
  • Manufacturing
  • Sustainable energy (specifically wind power)
  • Transportation
Commercial Insurance Regulations For Businesses In Minnesota

The Minnesota Department of Commerce regulates insurance in Minnesota. Commercial insurance is designed to provide business owners and the individuals they associate with (employees, customers, and vendors) from a multitude of risks. To ensure proper protection for all, companies are required to carry the following commercial insurance policies in The North Star State:

  • Workers' compensation insurance, which provides coverage for work-related injuries and illnesses that employees may sustain.

Business that use vehicles for business-related purposes over a certain weight, must also carry commercial auto insurance, and any company that sells or otherwise distributes alcohol must carry liquor liability coverage.

Additional Resources For Miscellaneous & Non-Profit Insurance

Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.


Miscellaneous Business Insurance

An insurance contract is an agreement where one party obligates itself to make good the financial loss or damage sustained by a second party when a designated event occurs. The event must be fortuitous and happen by accident. The named insured must have insurable interest at the time of loss. One final point is that in order for any contract to be considered insurance, there must be a risk of loss.

Fortuitous Event - An occurrence largely beyond the control of any involved party; happening by chance; accidental; for example: fire, lightning, windstorm, explosion or flood.

Insurable Interest - In order to recover from a loss to property, the holder must have an insurable interest in the property at the time of the event or occurrence. An insurable interest is any right, title or interest in property where the holder of that right, title or interest sustains financial loss if the property is damaged or destroyed. Any lawful and substantial economic interest in the safety or preservation of the property from loss, destruction or damage also constitutes an insurable interest.

An entity does not have to be the property owner to have an insurable interest in it. Examples include, but are not limited to, mortgagees, trustees, vendors, lessees and bailees. Insurable interest for any entity must exist at the time the loss occurs.

Risk Of Loss - If property could never be destroyed, there is no risk of loss. If property must necessarily disintegrate or be destroyed, there is no risk of loss. Between these two extremes is the exposure of risk that can be insured.


Request a free Minnesota Wedding Planner insurance quote in Albert Lea, Alexandria, Andover, Anoka, Apple Valley, Arden Hills, Austin, Bemidji, Big Lake city, Blaine, Bloomington, Brainerd, Brooklyn Center, Brooklyn Park, Buffalo, Burnsville, Champlin, Chanhassen, Chaska, Cloquet, Columbia Heights, Coon Rapids, Cottage Grove, Crystal, Duluth, Eagan, East Bethel, Eden Prairie, Edina, Elk River, Fairmont, Faribault, Farmington, Fergus Falls, Forest Lake, Fridley, Golden Valley, Grand Rapids, Ham Lake, Hastings, Hermantown, Hibbing, Hopkins, Hugo, Hutchinson, Inver Grove Heights, Lakeville, Lino Lakes, Little Canada, Mankato, Maple Grove, Maplewood, Marshall, Mendota Heights, Minneapolis, Minnetonka, Monticello, Moorhead, Mound, Mounds View, New Brighton, New Hope, New Ulm, North Branch, North Mankato, North St. Paul, Northfield, Oakdale, Otsego, Owatonna, Plymouth, Prior Lake, Ramsey, Red Wing, Richfield, Robbinsdale, Rochester, Rogers, Rosemount, Roseville, Sartell, Sauk Rapids, Savage, Shakopee, Shoreview, South St. Paul, St. Cloud, St. Louis Park, St. Michael, St. Paul, St. Peter, Stillwater, Vadnais Heights, Waconia, West St. Paul, White Bear Lake, Willmar, Winona, Woodbury, Worthington and all other cities in MN - The North Star State.

Also learn about Minnesota small business insurance requirements for general liability, business property, commercial auto & workers compensation including MN business insurance costs. Call us (612) 808-9866.

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