as a new party planner, do i need some type of insurance or bond?

Answer 1

This question has gone a week without an answer. I do not know if you need to be bonded. Some states may require one since you will be working in peoples homes. Insurance is another matter.

You absolutely need to carry liability insurance, and you need to make sure that any subcontractors that you hire carry it also. If you have employees, you will also need to carry workers compensation insurance.

Suppose that you plan a party for sixty people. You plan the menu and hire the caterer. The caterer provides food, liquor, a bartender, and the wait staff. Now suppose that the worst happens. Twenty people get sick from contaminated food. One of the wait staff trips and falls down the stairs breaking a leg and destroying a large oriental vase in the process. Who is responsible?

If you required a Certificate of Insurance, proving liiability and workers compensation insurance, from the caterer, you should be in good shape. If you have an umbrella liability policy, you will be protected in case the damages exceed the coverage carried by the caterer. In a worst case scenario, you both may be sued, but your business will not be in jeopardy if you have adequate coverage.

All kinds of scenarios are possible. What if an employee steals from one of your clients? What if a cook starts a fire in the kitchen? And on, and on, and on.

Best bet is to arrange a meeting between yourself, your attorney, and your insurance agent to review coverage. Liability insurance is fairly cheap, and I consider it essential.

Good luck with your business.

Answer 2

I would buy some. I mean for no other reason other than peace of mind.