Own your own interior design firm? Passionate about interior design, considering starting your own firm? Looking to hire an interior designer to make a new space your own or bring an old space back to life? Cruising the internet and curious what kind of insurance solutions apply to interior designers and what to be looking for when hiring one?
Regardless what brought you to this page, we're glad you here and we have the insurance solutions for you! Insurance for interior designers is really quite simple when we break it down and the same coverage needs can be applied to an array of other small business owners as well.
Key Considerations
One of the primary things to consider when evaluating coverage is the nature of the unique business operations themselves. What makes the interior design business unique is their likeliness to be on-site at client locations. It is possible an interior design firm may also have their own local office space, but it is highly likely, whether they are working with commercial or residential clients, that they spend a decent amount of time on-site working with the clients property at their respective locations. With that being said, there are a few factors to take into consideration when reviewing coverage needs for that business model.
Business Owner's Policy
You’ve possibly heard this referred to as a ‘BOP’ or package policy before, what that means is it is able to combine together multiple coverages for businessowners on one policy form – the liability and the property.
- General Liability would provide coverage for lawsuits alleging personal injury or property damage. A situation in which this would apply for an interior designer would be should a client visit an interior designer’s office or studio and slip and fall and become injured. This would also apply should an interior designer cause damage to a client’s property when completing work at their home or business location.
- Commercial Property would provide coverage for an interior designer’s office location or studio and the things they use to conduct business, whether it is owned or leased. Interior designers would likely have computers with programs for drafting and it is possible they would have an inventory of furnishings and various goods to show their clients.
Business Auto Coverage
It was mentioned earlier that interior designers are often on-site at their client’s locations. How are they getting there?? Is there a company vehicle that is being driven? If that is the case, a business auto policy would be needed to insure that exposure. If employees of the business are utilizing their personal vehicles to visit client homes or businesses, it is necessary to include hired and non-owned auto insurance to their insurance package. That important coverage protects the business should an accident occur causing damage or injury when an employee was driving on behalf of the business.
Professional Liability Insurance
In the event a client believes you have made a mistake or failed to preform some service, they can bring forth allegations of an error or omission on your interior design business. Interior designers can be sued for damages and expenses resulting from errors and omissions, even if they’ve done nothing wrong. A Professional Liability policy would provide coverage for those resulting damages but would most importantly provide defense coverage in the event of a lawsuit.
Workers Compensation
Workers Compensation coverage is crucial not only to interior designers, but to any business who has employees. This coverage protects not only the business, but those individuals as well from work-related injury or illness. Coverage would include the employees medical care as well as coverage for lost wages due to time away from work and more. Should an employee’s family sue due to negligence related to the injury, this coverage would also assist the business owner in that instance as well.
Home Sweet Home
A commonly received comment, “my business is based out of my home, I don’t need business insurance”, is a huge misconception in the world of insurance. Even if you have a home-based interior design business, you probably still want a Business Owners policy. If you have clients coming to your home or leave your home to go on-site for client appointments, you have a General Liability exposure. If you are storing inventory or business personal property at your home, you have a Commercial Property exposure. At WalkerHughes, these exposures among others relative to your business can be navigated by one of our trusted insurance advisers to accommodate your insurance needs.
