So I am getting into DJ work and I am curious what sort of insurance you all are doing? I am assuming at least $1 million liabillity + property coverage? or more? What other insurance do you do with that?
There can be all sorts of details and options such as whether vehicles are covered, coverage of your property (versus the client's property) and so on. Perhaps your best resource is to talk to potential clients and related venues and see if they have specific requirements, while a different market much of my insurance coverage is dictated by specific requirements of individual clients, some of which exceed what may be considered 'industry standard'.
I had a customer asking about bonding. What is that and how would I go about becoming bonded if need be?
Bonding is usually a way of reducing the client's risk if you were to change your mind after submitting a bid or be unable to perform the work. There are various types of bonding (performance bond, bid bond, etc.) guaranteeing that if you decide to or are unable to fulfill a related commitment then funds will be made available for your client to hire someone else to perform the work. You would need to find a bonding agent and the associated cost is often some percentage of the dollar value involved, which is usually the amount of the bid or contract, with that percentage varying based on your past history.
