Many business owners buy insurance for professional organizers to protect their businesses. It is because the nature of this business has high challenges that cost time and money. Thus, you should keep reading to see why your business needs insurance and discover the right insurance provider!
Why Do Professional Organizers Need Insurance?
Most people are emotionally attached to their belongings, and that’s why professional organizers encounter significant risks in their job. In the worst case, important papers can be missing or accidental damage to a precious heirloom can lead to an expensive lawsuit.
Professional organizer insurance can help you to protect when you are doing your business. It’ll help you with the legal costs, replacement or repair of valuables, and other costs that can be overwhelming as a small business.
An insurance professional organizer is an insurance company that is dedicated to offering protection programs for planners or organizers. Furthermore, it can help with your organizing work whether it is office, weddings, birthday parties, trade shows, concerts, festivals, and other events.
Basically, it is similar to business insurance, but you should tailor it based on your business needs. Several coverages will be offered including liability and casualty insurance products for business income loss, workers injuries, lawsuits, and property damage.
What Types of Insurance Do Professional Organizers Need?
Professional organizer insurance usually will combine general liability, property, professional liability, and other insurance. However, every provider usually offers various quotes with different coverage. You should take time to do a consultation to find the best coverage for your organizer business.
So, there are various types of insurance for your business available. Below are several insurances that you can choose that can be the right insurance:
1. General Liability Insurance
The first on the list is general liability insurance which is a must for most businesses. This coverage can protect your business against financial loss that is caused by property damage, bodily injury, medical cost, slander, libel, lawsuits, and settlement bonds.
2. Property Exposure
If you have an office location whether rental or your own home with properties, you should consider this property exposure. We never know where disaster can happen, even your computers and copy machines can have the risk of short circuits and causing fires.
This insurance will help you to protect the business properties. This insurance will help to hire the best licensed electrical contractors and security systems. So, it would minimize the risk of loss of properties including damage and theft.
3. Professional Liability Insurance
Well, you may do your best as a professional organizer, but human error can happen. For instance, you decide to toss something and it turns out that it’s extremely valuable. Thus you should let the client decide to throw things out.
However, as a professional, you should take pictures and catalog everything that needs to be documented in the process. So when things go wrong, this one of insurance for professional organizers will help to manage it.
Professional liability insurance is a coverage that is designed against financial loss as a result of errors, malpractice, and negligence. So, you can feel free to work at your best since the insurance will protect you as a professional organizer.
4. Automobile Insurance
Do you have business cars for business needs? Whether you use it for commuting, visiting the event hall, or escorting the client, it’s important to protect your vehicle. Automobile exposure offers insurance that covers your car. It will cover related to the car such as repairing, towing, and other expenses.
5. Workers’ Compensation Insurance
As a professional event organizer, you must not work alone. This business needs several workers to make a big event. In addition, in several states, having workers’ compensation insurance is a must for employees. Thus, you can protect your workers and business with this insurance.
6. Business Owner Insurance
The business owner’s policy is basically insurance that most businesses need for protection. This insurance combines several types of coverage options in one complete bundle. So, with this package, you can get all vital insurance for a professional organizer with a simple buying process and lower pricing.
What is the Cheapest Insurance for Professional Organizers?
Many insurance providers offer various coverage and pricing depends on your business. It can have extremely low pricing with high coverage and vice versa. For instance, several remarkable insurance providers are USSA, Farmer, Progressive, etc. Below are several options for those looking for the cheapest insurance:
- NEXT: This company is always on the first list if you want to find the cheapest one. It costs $17 monthly and $204 yearly with the most robust general liability insurance for professional organizers.
- CoverWallet: This company offers an insurance quote comparison online that is great to make decisions. Furthermore, the price is $20 per month and $240 per year.
- Tivoly: Although this company is not the best, the price is pretty affordable at $22 monthly and $264 annually.
- Thimble: This company offers scalable professional organizer insurance at $25 per month and $300 per year.
- Hiscox: Costing $34 monthly and $408 annually, it has generous liability policy limits for event planner businesses.
- Progressive: This company has a slightly higher price but is definitely worth it if you are looking for robust commercial insurance. Moreover, it cost $38 per month and $456 per year.
How Much Does Insurance for Professional Organizers Cost?
A professional organizer who works independently usually has lower premiums than a more significant business. The average estimated quotes are $27 monthly or $324 annually. However, these rates may vary depending on your business profile, risk level, and how much coverage you want. Here are several factors that affect the premiums:
- The type of professional services, such as an event, home, or office organization
- The insurance type and coverage options
- Business equipment and property
- Policy limits and deductibles
- Business income
Let’s Choose the Right Insurance for Professional Organizers!
Using insurance for your business ensures you won’t lose the business while keeping you and the client’s belongings safe. So you need to compare each insurance provider and its quotes to find the right one. At last, we hope our article can help to find the right insurance for professional organizers!