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As an upholsterer, you have a great deal of expertise and skill when it comes to transforming a piece of furniture into something that’s like new. You recognize that every piece of furniture is unique and therefore calls for specialized treatment.
That’s why at Simply Business, we can help you create an insurance plan that’s customized to fit your business’s needs. The coverage in your plan can potentially protect you from big risks and liabilities you may face as an upholsterer.
From comprehensive general liability plans to workers compensation coverage, we can introduce you to policy options that are as unique as your business.
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Business Insurance Policies Available for Upholsterers:
Upholsterer insurance plans can include several policies, which can protect your business from common risks you may face in your industry. When creating your upholsterer insurance plan, we may suggest considering these two core plans as part of your foundational policy:
Do you have an office or studio space where clients meet with you to discuss projects? If you do, you'll likely need general liability insurance. This type of insurance, also known as commercial general liability (GL) insurance, can cover the costs associated with third-party accidents, property damage, and bodily injuries to a third party, like a client or vendor.
GL insurance is often considered a primary policy to include in a small business's overall insurance plan. With the average customer injury or damage claim — something this policy type covers — being $30,000, general liability insurance is essential.
That means, without general liability insurance, you'd be at risk of paying those costs on your own.
What does general liability insurance look like in action? Let's say you go to a client's residence to pick up some cushions to take back to your shop. While carrying all of the cushions at once to your truck, you knock over the client's china cabinet, breaking everything inside it.
In this case, if you have general liability insurance, it may be able to cover the cost of replacing your client's broken china and legal fees if your client sues you, up to your policy limits.
To summarize, here's what general liability insurance usually can cover:
Here's what general liability insurance usually doesn't cover:
If you have any full-time, part-time, or temporary employees in your upholstery business, you may be required to carry workers compensation insurance. This type of coverage can cover the costs of an injury or illness an employee sustains while working for you.
Workers compensation insurance — or some form of it — is mandatory in most states; check here to see your state's requirements.
Having workers compensation insurance can be a significant part of growing a successful upholstery business. It's estimated that the average work injury cost is $41,000, and in 2018 alone, a total of $170.8 billion in claims were filed.
It goes without saying, it's a smart idea to have workers compensation insurance as part of your core insurance policy, even if you have only a few employees.
To summarize, workers compensation for upholsterers can cover:
As an upholsterer, you likely face risks every day, like damaging a client's property or injuring yourself or an employee by accident. That's why investing in upholstery insurance is an important business decision.
Perhaps you aren't sure if you need business insurance at the moment. Maybe you're just getting your business off the ground, and adding another expense to your list seems overwhelming.
Here's the reality: business insurance can be a critical part of reducing the liabilities you're at risk of as an upholsterer, even if you're just getting started. Although you can take steps to mitigate the number of risks you face as a business owner, that doesn't mean they still can't happen.
Here are the most common incidents that can happen to small business owners, including how much they cost on average:
Those numbers aren't anything to ignore, and those costs can be harmful to a small business. Luckily, if you have upholstery insurance, your policy could cover some or all of the costs of the claims or lawsuits you may face.
On the topic of lawsuits, did you know that 43% of small business owners polled reported being threatened with or involved in a civil lawsuit?
Don't leave your business (and hard-earned cash) to chance. At Simply Business, we make it easy to find an insurance policy at the right price. All you have to do is answer a few questions about your business, and you can compare free quotes from top insurers in the country.
What's more, we can provide you with a certificate of insurance (COI), so you can provide proof of coverage to clients, vendors, and more.
Since upholsterers insurance may be a bundle of various business policies, you may be required to carry some coverage, but not others.
For example, your state may require workers compensation coverage if you have employees, but not require you to carry general liability insurance. Or the landlord where your office is located may contractually require you to carry GL insurance as part of your lease agreement.
In general, the cost of your upholstery insurance premiums is tax-deductible by the IRS. It's best to talk to an accountant if you have questions about your specific business's deductible expenses, though.
The amount of coverage your business may need will depend on:
If you're not sure what you need, don't worry: our quote form is designed to recommend insurance plans for you, based on your answers.
If you have more questions, our licensed insurance agents will be happy to assist you!
If you're ready to get your free quotes, we recommend having the following information to expedite the process:
It can, as your state may have a different insurance requirement for upholsterers than another state (especially when it comes to workers compensation insurance).
That's why our quote process works. Our questions can narrow down insurance policy options for you, based on your business needs and any requirements your state may have regarding insurance coverage.
Upholstery insurance coverage depends on the policies that are bundled together to meet your business's needs. If you opt for both general liability and workers compensation, insurance for upholsterers can cover:
The cost of upholsterers insurance differs depending on your business and its needs, so it's tough to provide an exact answer here. But in general, you can expect the price of your insurance premiums to be determined by:
Want to see how much your upholsterers insurance may cost? Just click here and get free quotes from some of the top insurers in the country.
When it comes to upholstery insurance, there are a lot of choices out there — and it can get a bit overwhelming.
But with Simply Business, we make it easy to choose an insurance policy that covers your business. We're an online insurance platform that works with small business owners to find and compare top plans from the most trusted insurance providers.
We're also one of the fastest-growing online providers of small business insurance, meaning thousands of customers trust us to protect their growing businesses.
So why choose Simply Business?
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 whenever you are.
We're flexible. 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 understand your business's unique needs. You deserve an insurance policy that gets your business. We can help you get that coverage.
After all, you've worked hard to build your upholstery business. That's why we offer the best coverage to protect your business.
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.