Insurance for Interior Design Services

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How Insurance and Interior Design Connect

As an Interior designer, you make a living out of helping others reimagine and renovate different spaces. That can include living spaces as well as offices, government buildings, art galleries or museums. All interior designers offer both consultations on design ideas, as well as assisting with making the right purchases with regards to the furniture, design materials and contractors needed to turn these ideas into reality.

Risks and How Interior Designers Can Mitigate Them

As consultation specialists, interior designers need different types of insurance to cover their basic risks. Perhaps the most important of these is Professional Liability Insurance. A Professional Liability Insurance policy helps cover the costs associated with giving advice to clients. When an interior designer makes suggestions on how to reorganize or transform a space, he or she is taking on the responsibility for the money that will be spent. Interior designers create a budget for their clients as well, just as any general contractor might when making estimates for a job. If a customer feels that money was spent frivolously or that the suggested changes were not properly thought out, the interior designer may face a liability claim as a result.

Interior designers may also face claims if a client believes the changes made to the space were inadequate, or if those changes resulted in an unexpected and undesired consequence. For example, if a customer wants a living room redone before the birth of a new baby, the parents may give the interior designer the task of revamping the space to make it more child-friendly. However, if the parents later determine that the living room space they paid to have redone still contains safety oversights, the fault may lie with the interior designer. Professional Liability Insurance is designed to mitigate the costs of any such oversights. This insurance will typically cover the court costs associated with defending against the claim, as well as any settlement costs should you lose a claim in court.

Additional Insurance for Interior Designers

Beyond possible mistakes in the design process, interior designers who own property face additional risks associated with the business. While many interior designers do work out of the home, many successful interior design businesses utilize large business spaces and sometimes even large warehouses. This equates to significant monetary investments in property, all of which could be at risk of a loss or could be a potential hazard for clients passing through your offices, warehouses or showrooms.

If clients are ever injured accidentally while on your premises, you could be liable for bodily injuries. This is where a General Liability Insurance policy comes in, helping you to mitigate the risk. Alternatively, if something happens to your business property, such as a fire or theft, a Property Insurance policy will reimburse you for the cost of the lost of stolen items.

Interior designers may also want to consider:

  • Commercial Auto Insurance
  • Business Owner’s Policy
  • Business Interruption Insurance

Even the best interior designers face some risks to their business. Consider the potential benefits of having different insurance policies on hand in case the unexpected does occur.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
General Liability
This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy. General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.

What is it: This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy.

Why get it: General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.

Professional Liability
This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to a mistake or error made in a professional capacity. Your business may have contracts with clients or partners that require Professional Liability coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

What is it: This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to a mistake or error made in a professional capacity.

Why get it: Your business may have contracts with clients or partners that require Professional Liability coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.

Workers Compensation
Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work. Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.

What is it: Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.

Why get it: Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.

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