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Your life’s work is creating spaces that people fall in love with the minute they step inside. Color palettes, furniture styles, fabric swatches, and design principles fill your days. You wouldn’t trade it for the world.
But as you’re creating interior design magic for your clients, who is making sure your business is protected?
Enter Simply Business.
We are an online insurance platform that makes it easy for interior designers to find customized insurance coverage. Our team of experienced insurance agents will help you get the coverage you need to protect your business from the biggest risks you may encounter.
Plus, with us, it’s easy to get covered. Just give us 10 minutes of your time, and we can show you policies that will protect you and the business you worked so hard to build.
Ready to get started?Get your quote
Business Insurance Policies Available for Interior Designers:
Depending on what your interior design business needs, your business insurance plan may vary. However, when deciding what the best insurance coverage is for you, we may recommend these three core plans to form your foundational policy:
Whether you work primarily with families to perfect their dream home or if you design corporate office spaces that dazzle, you spend a lot of time working with clients. Your clients look to you for advice regarding all things design and functionality, and trust that investing in your services will be worthwhile.
But no matter how many years of experience you have under your belt, mistakes can still happen.
That’s why it’s critical to have professional liability insurance (PL).
Interior designer professional liability insurance covers you and your business if a client claims that you or your company didn’t fulfill your end of the project. Also, if you have employees, PL insurance protects them as well.
So what does this mean in a real setting?
Imagine you’re working with a new client on designing their new downtown office location. Somewhere during the process, you make an error recommending certain chairs for the space. It turns out that many of the chairs are faulty, and now your client has to purchase all new chairs. You’re embarrassed, and your client is upset. What now?
In this case, professional liability insurance would cover the cost that may arise as a result of the mistake (up to your policy limits). For instance if they were to take you to court, your PL policy would cover the fees associated with the lawsuit. Having professional liability insurance can prevent you from having to tap into your bank account if issues like this occur.
In a nutshell, here’s what professional liability coverage for interior designers can entail:
However, professional liability insurance usually doesn’t cover:
Do you have an office space where clients meet you to talk through design concepts, projects, and other matters? If you do, you’ll likely need commercial general liability insurance. This policy, commonly referred to as general liability (GL) insurance, protects you from having to pay for third-party accidents, property damage, and bodily injuries to a third party (e.g., a client or vendor).
GL is a vital part of any small business insurance policy for many reasons, with a primary one being that it can protect you from severe claims and costs. Did you know that the average customer injury or damage claim (something that GL insurance covers) is $30,000?
In other words, without general liability insurance, you may have to pay for those costs out of your bank account.
For example, let’s say that a client is interested in your interior design services and visits you in your home office. As the client walks in, she slips on your recently waxed office floor, which you cleaned because you wanted to show off your flair for interior work. She not only ends up breaking her arm; she wants to sue you for the resulting medical bills.
In that scenario, your general liability policy may cover the costs of her medical bills, as well as legal fees resulting from defending yourself against her lawsuit (up to your policy limit).
To summarize, here’s what general liability insurance usually can cover:
Here’s what general liability insurance usually doesn’t cover:
Do you have a team of designers who help power your business? Whether they’re part-time, full-time, or temporary, you may be required to carry workers compensation insurance. This insurance can cover costs related to an employee injury or illness sustained while working for you.
Most states require business owners with employees to have some form of workers compensation insurance. Is your state one of them? Check here to see your state’s laws.
Workers compensation insurance can be a critical part of running a thriving interior design business. With the average work injury cost to be around $41,000 and a jarring total of $170.8 billion in claims filed in 2018 alone, it’s critical to have workers compensation on your side.
Even if your team is small, having workers compensation can protect you and your business from several variables you may face as an interior designer.
In general, workers compensation for interior designers can cover:
As an interior designer, you know the importance of being buttoned up from the initial project kick-off to the finishing touches on a space.
But maybe you aren’t sure if you need business insurance at this point. Or perhaps you’re just getting started, and adding another expense to your business sounds like too much.
The reality is, the amount you’ll pay for your insurance policy is minimal compared to the costs you could face. No matter how organized and careful you are as a business owner, accidents and mistakes can still happen.
Here are some of the most common liabilities and risks small businesses face, including their average costs:
Without proper business insurance, you might be required to foot the bill on claims or lawsuits filed against you. Plus, around 43% of business owners have reported being threatened with or involved in a civil lawsuit. In other words, a client could take you to court merely because they are dissatisfied with your services and you may have to take efforts (and pay expenses) to respond — even if there is no merit to their claim and you did everything as you promised you would.
So it’s important to protect yourself from the repercussions of these situations. At Simply Business, finding the right insurance plan at the right price has never been easier. Just answer a few questions about your business, and you’ll get access to free quotes from the nation’s top insurers.
Also, we can provide you with a certificate of insurance (COI), so you can start providing proof of coverage.
Because all businesses are unique, you may be required to carry some types of insurance coverage and not others.
Depending on where you live, you may be required to carry workers compensation coverage if you have employees but not have to carry general liability insurance. It depends on your business’s needs and the laws applicable to your interior designer business!
As a general rule, your interior design insurance premiums are tax-deductible. We recommend you speak to an accountant if you have questions about your business’s deductible expenses.
The amount of coverage your business may need will depend on several factors:
If you aren’t sure what kind of coverage you need, we’re here to help. Our quote form is designed to let you compare multiple policy offerings, letting you pick the right coverage based on your business’s needs.
If you have questions, our licensed insurance agents are available and will be happy to assist you.
We recommend having the following information on hand to get your quote as quickly as possible:
It may. Your state could have different insurance requirements for interior designers than other states.
Interior designer insurance depends on the policies you bundle together to meet your needs. If you choose to purchase professional liability, general liability, and workers compensation insurance for interior designers, all three together can cover:
Insurance for interior designers depends on your business and its needs. In general, you can expect the cost of your insurance premiums to be determined by:
Curious to see how much your interior designer insurance may cost? Just click here and get free quotes from some of the top insurers across the nation.
Simply Business is an online insurance brokerage that makes it easy to compare the best policies and quotes from top insurers in the country. We’re one of the fastest-growing online providers of small business insurance. That’s why thousands of customers trust us to protect their businesses.
Why choose us? It’s simple:
We’re fast and affordable. You have a lot on your plate, and you don’t have time to worry about your insurance coverage. Our policies are fast, affordable, and ready when you are.
We’re flexible with coverage. Your business changes over time, so you need an insurance policy that can keep up. We’re here to help make sure you’re protected no matter what your business needs.
We get your business. You deserve an insurance policy that understands your business from the inside out. We can help you get that coverage.
You work hard to build your interior design business, and you should have an insurance policy that protects that hard work.
* Monthly payment calculations (i) do not include initial premium down payment and (ii) may vary by state, insurance provider, and nature of your business. Averages based on January - December 2020 data of 10% of our total policies sold.
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.