Why do interior designers need insurance?
Interior designers work hard to create functional yet appealing home and work spaces. However, you could face a lawsuit if you don’t deliver promised results, or if there's an unforeseen delay. Interior design insurance can cover legal costs and other financial losses from injuries, theft, and accidents.
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With Insureon, interior design professionals can get insurance coverage the same day they apply for quotes.
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What types of business insurance do interior designers need?
These insurance policies cover the most common risks of interior design.
General liability insurance
This insurance covers basic third-party risks of interior design, such as accidental damage to a client’s home. It's often required for a commercial lease.
- Personal injuries
- Bodily injuries
- Damage to a client’s property
Business owner’s policy
A business owner's policy, or BOP, is a cost-effective way for interior design businesses to buy commercial general liability coverage and commercial property insurance together.
- Client injuries and property damage
- Business property damage and theft
- Business interruption coverage
Professional liability insurance
This policy covers legal defense costs related to an interior designer's work performance, such as a budget overrun that leads to a lawsuit. It's also called errors and omissions (E&O) insurance.
- Failure to produce promised results
- Accusations of negligence
- Oversights and mistakes
Workers’ compensation insurance
Workers’ comp is required in almost every state for interior design firms that have employees. It also protects sole proprietors from work-related injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Employee injury lawsuits
Cyber insurance
This policy helps interior designers recover from data breaches and cyberattacks. It's strongly recommended for any small business that handles sensitive information.
- Client notification expenses
- Fraud monitoring services
- Data breach investigations
Commercial auto insurance
This policy helps cover the cost of property damage and injuries in an accident involving your business vehicle. Each state has its own requirements for auto liability insurance.
- Property damage caused by your vehicle
- Bodily injuries from an auto accident
- Vehicle theft and vandalism
How much does interior designer insurance cost?
An interior designer who works independently will pay less for insurance than a small business with several designers.
Average costs of interior designer insurance policies purchased by Insureon customers are:
- Professional liability: $59 per month
- General liability: $49 per month
- Workers' comp: $55 per month
Factors that affect interior designer insurance premiums include:
- Design services offered, such as home decor, painting, or home renovation
- Business property and equipment
- Location
- Business income
- Number of employees
- Years of experience
- Types of insurance purchased
- Policy limits and deductibles
- Claims history
How do I get interior design insurance?
It's easy to get interior designer insurance or interior decorator insurance if you have your business information on hand. Our application will ask for basic facts about your company, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance (COI) with Insureon in three easy steps:
- Complete a free online application.
- Compare insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed insurance agents work with top-rated U.S. insurance companies to find the right insurance coverage for your interior design studio, whether you work independently or hire employees.
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FAQs about interior designer insurance
Which insurance policies protect interior designers against errors on design plans and specifications?
Even the most experienced interior designer can make a mistake.
You might give a client an inaccurate estimate for how long a project will take, or make an error in a design plan that leads to bigger problems down the road. If your mistake leads to a lawsuit, then you could end up facing thousands of dollars in legal fees that could sink your business.
Professional liability insurance for interior designers helps pay for legal costs related to errors, oversights, and other instances of professional negligence. It provides crucial coverage for potential budget overruns and delays while you help your clients achieve their vision.
You might also see this policy referred to as errors and omissions insurance (E&O) or professional indemnity insurance.
As an interior designer, do I need both general liability and professional liability insurance?
General liability insurance and professional liability insurance policies aren't required by law, but they provide crucial protection for interior designers and other small business owners.
Here's why you should invest in both of these policies:
- General liability insurance pays for legal costs if you accidentally harm a client. It covers bodily injuries, property damage, and advertising injuries. This policy usually includes product liability insurance, which covers harm caused by products. It might be required for a commercial lease or a business loan.
- Professional liability coverage pays for legal expenses if a client sues your business for a mistake. Though it's not often required, you might need this coverage to work for another firm or a client.
If you do any work as an architect, engineer, or general contractor, then you might need professional indemnity insurance for interior designers in order to get licensed in your state.
What other interior designer insurance policies should I carry?
For a comprehensive risk management plan, interior design firms often invest in the following policies:
- Commercial property insurance covers your office and everything in it, such as computers, equipment, and furnishings. It'll pay for losses from a fire, storm, or burglary.
- Inland marine insurance provides protection for tools and equipment that travel with you to clients' homes, such as sketching supplies, laptops, and measuring tape.
- Installation floater insurance is a type of inland marine insurance. It covers wallpaper and other materials while they are being transported, stored, or installed at a client's property.
- Products-completed operations coverage offers coverage for harm caused by a product, such as a dresser that tips over and injures a child. It's also called product liability insurance.
- Business income insurance, also called business interruption insurance, covers financial losses when your business is forced to close due to a fire or other covered property claim.