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 claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy. More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

What is it: This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy.

Why get it: More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

Professional Liability
This policy protects your business against liability for committing an error or omission in the work you do. For instance, in the medical profession this type of insurance is called "Medical Malpractice Insurance." You may have contracts that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability is a must-have. If not, think about the potential for a customer or vendor to sue you in case of an error when considering E&O.

What is it: This policy protects your business against liability for committing an error or omission in the work you do. For instance, in the medical profession this type of insurance is called "Medical Malpractice Insurance."

Why get it: You may have contracts that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability is a must-have. If not, think about the potential for a customer or vendor to sue you in case of an error when considering E&O.

Workers Compensation
Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work. This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

What is it: Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.

Why get it: This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

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