A proper legal analysis is necessary based on your location and contract. Consult an attorney in your home state for advice regarding your contract or specific legal situation.
How to Handle Business Insurance When Working with Venues
As an event professional, what do you do when a venue requests your certificate of insurance (COI) or to be listed as “additionally insured”?
In the wedding and event world, it’s really common for venues to request a COI from vendors like wedding photographers, videographers, caterers, and event planners.
Having business insurance not only helps you build trust with venues—it also protects you from stressful situations and financial loss.
Terms like “additionally insured” might sound foreign at first, but don’t worry! We’ll break down the basics of insurance for small businesses, as well as what you need to know when working with venues.
This is an important step in making your business Legally Legit®!
Do I Need Business Insurance?
Do you really need insurance for your small business? It’s a common question we get from small business owners and event vendors—photographers, videographers, wedding planners, DJs, and more.
The short answer? YES!
If your business is ever sued, strong business liability insurance could cover tens of thousands — even hundreds of thousands — in costs if you or your equipment cause injury or property damage, or if you fail to deliver your services as promised.
On top of that, business liability insurance covers attorney fees, which can quickly reach the tens of thousands.
I know what you’re thinking—“I’m just photographing a wedding, what could possibly happen that would lead to me being sued?”
After more than a decade in this business, I’ve seen it all—from memory cards getting destroyed and every photo being lost, to wedding planner assistants walking off with the couple’s gifts, to a DJs disco ball dropping on guests on the dance floor.
Unexpected challenging situations can pop up out of nowhere, and you want insurance coverage in place to protect you and your assets when they do.
Let’s answer some of the common questions that come up about insurance for small businesses.
How much coverage should I have?
A good starting point for a policy limit is around $1 million aggregate/$100,000 per occurrence. However, we are hearing in The Legal Paige Community that more venues are requiring policies with $2 million aggregate coverage.
The best coverage for you depends on your services and the risks involved. Talk to an insurance expert to find the right policies for you.
Note: It is possible to get a one-day policy for Special Event Insurance. Single-day policies are much more expensive than annual plans, however. So if you work at many events throughout the year, I encourage you to keep liability coverage year-round.
How much is business insurance for a small business?
The cost of business insurance depends on your type of business and the protections you need.
A typical monthly payment for business insurance is around $100-200. However, a smaller, home-run business can be insured for less. Many small business owners we’ve connected with pay anywhere from $300-$750 annually for business liability insurance.
A larger company with more employees, facilities, or risks can cost much more.
Hint: Bundling your business insurance with your home, car, or other policies can definitely save you money.
Do photographers need insurance?
At The Legal Paige, we support a LOT of photographers with contract templates and legal education for their businesses.
When photographers ask me if they need insurance, I say, “Yes, absolutely!”
You run some risk as a photographer, like potential damage to expensive equipment and memory card malfunctions. This is especially true for wedding photographers.
You can read more about insurance for photographers here.
Do I need business insurance if I have an LLC?
Setting up a limited liability company (LLC) generally protects your personal assets (home, personal bank accounts, car) from lawsuits.
However, even with an LLC, your business assets are still at risk.
If a client or other party files a lawsuit and you lose, they could collect from assets like your business bank account, equipment, or even future business income. We don’t want that!
If you are a sole proprietor, you could be personally on the hook for claims, so business insurance is very important.
What Kind of Insurance Do You Need for Your Small Business?
“Business insurance” can refer to many types of insurance policies, all designed to protect your business from loss.
General liability insurance is a MUST for all small businesses that work at events. General liability insurance covers against injury, accidents, and claims of negligence.
However, for many business owners, it's smart to have multiple insurance policies.
Additional types of business insurance
Besides general liability insurance, other types of insurance are important to protect your business and peace of mind.
Think about your business in particular and which type of coverage makes the most sense for you. For example:
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Equipment Insurance
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Commercial Auto Insurance
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Disability Insurance
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Property Insurance (Owner or Renter)
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Life Insurance
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Workers’ Compensation & Unemployment Insurance
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Business Interruption Insurance
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Errors and Omissions Insurance
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Record Retention Insurance
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Cybercrime Insurance
Read more about different types of business insurance HERE.
Why Do Venues Ask for COI?
If you work at events like weddings, conferences, or retreats, you might have venues reach out to you in advance asking for a COI. But what does that mean exactly?
A certificate of insurance (COI) is a document that proves you have a business insurance policy.
It’s common for venues to ask for a certificate of insurance (COI) from vendors who work on-site or interact with guests. A COI reassures venues that if there’s an accident or lawsuit that you may be involved in, you have proper insurance that will handle the costs.
We are seeing more venues ask vendors for a COI, and our stance on it is that it doesn't harm you as the vendor by providing it, but it only reassures the venue if the worst happens.
For example, let’s say you’re a photographer shooting a wedding at a historic hotel. If your nice camera gets damaged, a guest trips over your equipment, or you knock over an expensive vase, the hotel wants to know your insurance would cover the costs—not them.
To provide a COI when a venue requests it:
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Contact your insurance provider.
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Ask them for a COI for your business insurance
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Send it to the venue.
Tip: Keep copies of your COI on hand because other venues are likely to ask for it.
What if a venue is asking to be “additionally insured”?
Many venues now require being listed as an “additional insured” on a vendor’s insurance policy before an event. This practice is becoming industry standard.
We know this requirement can make some vendors nervous, so we spoke with a commercial insurance agent to answer three of your additional insured questions.
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So, what does adding an additional insured to your insurance mean?
Listing a venue as an additional insured to your insurance extends protection to the venue. If something happens and they get pulled into a claim, your policy can help cover them, too.
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Why would a venue want to be listed as an additional insured if they have their own insurance?
Accidents can happen to anyone! If a guest is injured at an event due to your equipment being in the wrong place or something you did, a claim might be filed against you.
Often, the venue will also be included in the claim simply because the injury occurred on their property. But the venue doesn’t want to use their own coverage for something that wasn’t their fault. Your insurance should be the first to cover the incident before the venue’s insurance kicks in.
For example, a conference center might require a DJ to list the venue as an additional insured on the DJ’s policy. This way, if someone sues the venue for something the DJ did—such as leaving equipment in a spot where someone could trip—the DJ’s insurance can step in to defend the venue or cover the cost of the claim.
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What is the cost of adding an additional insured?
The cost of adding a venue as an additional insured is sometimes free, but more often it adds a small amount to your premium. If a venue requires this, you could ask them to cover the fee, or simply treat it as a cost of doing business.
Ultimately, it’s up to you, but we recommend talking with your insurance provider to discuss your options.
Additionally Insured vs Certificate Holder
When talking about venues and insurance, it’s important to know the difference between an additional insured vs certificate holder.
“Additionally insured” means the venue has coverage under your policy.
“Certificate holder” simply means you’ve provided them with proof of insurance. It doesn’t grant the other entity any coverage.
Let's say you're a videographer filming at a luxury resort. If the resort is a certificate holder, the resort would likely keep your COI on file for compliance and get notified if your policy is ever canceled or changed.
To add a certificate holder, ask your insurer to issue a COI for the specific venue.
The Legal Paige Take: Business Insurance to Work with Venues and Protect Your Business
Running a small business comes with freedoms, as well as new responsibilities.
Insurance might not be the most fun part of your business to think about, but it's an important investment as a professional.
When you’re properly insured, you can professionally provide venues with your certificate of insurance and include them as “additionally insured.”
More importantly, your business insurance makes it so you’re not on your own if an accident happens or someone sues.
Your business is worth protecting!
For more tips from an attorney on how to protect your business, check out this episode of the Legally Legit® Podcast:
Episode 156: Every Entrepreneur's 3 Lines of Defense: Insurance, Contracts, and Business Structure
THIS BLOG POST IS NOT A SUBSTITUTE FOR LEGAL ADVICE. EVERY SITUATION IS DIFFERENT & IS FACT-SPECIFIC. A proper legal analysis is necessary based on your location and contract. Consult an attorney in your home state for advice regarding your contract or specific legal situation.
