2014

Insurance Policies for Interior Decorators and Home Decor Professionals

To cover your interior decorating business from many basic liabilities, you'll need a combination of the insurance policies listed below. Each policy covers some lawsuits or property loss situations. By combining these policies, your business can protect itself from many of the common expenses that would otherwise cause small interior decorators to go bankrupt.

General Liability Insurance for Interior Design and Home Decorating Businesses

General Liability Insurance is one of the basic varieties of business insurance for interior decorators. It covers your business's liabilities when a third party (like a client, vendor, subcontractor, or someone else not employed by your business) sues your business for…

  • Damaged property.
  • Personal injury.
  • Advertising injury.
  • Libel / slander.

Lawsuits like this can happen when your interior design business damages a client's home or causes them injury. For example: An interior decorator leaves a ladder at a client's home. The client's child decides to practice some gymnastics moves they've seen on television. One broken collarbone later, the client sues their interior decorator.

When lawsuits like this are filed against your business, General Liability Insurance can pay for…

  • Attorney fees.
  • Judgments paying medical expenses, pain and suffering, and other monetary amounts to the plaintiff.
  • Settlements to prevent the case from going to court.

Many small businesses need to purchase this insurance to meet their state regulations. Fill out an online insurance application and receive a free quote from an agent who specializes in insuring interior decorators. (Keep reading to find out how a Business Owner's Policy can help you get General Liability Insurance for cheaper.)

Property Insurance for Home Design, Room Design, and Interior Decorating Companies

Property Insurance protects your home decor company's commercial property, reimbursing your business for lost or damaged…

  • Equipment.
  • Power tools.
  • Decorating inventory / supplies.
  • Offices, workplaces, and buildings (rented or owned).

Property Insurance covers your business from certain instances of property loss, including…

  • Fire damage.
  • Theft / burglary.
  • Specified weather damage.
  • Acts of vandalism.

Commercial Property Insurance is important for home-based businesses as well as ones that have their own offices. The standard Homeowner's Policy doesn't cover business property. If your garage burns down and destroys your tools and inventory, your personal homeowner's policy might not cover the equipment that belonged to your business. To ensure you're covered, make sure to get commercial Property Insurance.

You might be wondering what kinds of coverage exist for weather damage. This varies from one policy to the next. Usually, natural disasters like hurricanes and earthquakes are not included. If you'd like to be covered from a particular kind of weather damage, talk to our agents about adding a coverage-specific endorsement to your policy.

Business Owner's Policies: Small Business Insurance for Interior Designers

Business Owner's Policies combine Property Insurance and General Liability Insurance, and usually sell them to your business at a discounted price.

By bundling these two common insurance policies together, your business can save money on its business insurance. How do you qualify? Not every business meets the requirements for this small business insurance policy. Some businesses are too big (usually over 100 employees), or have too many liabilities (from having a large office space or working in a dangerous industry).

But many small businesses qualify for a Business Owner's Policy. When you contact us, our agents will query the insurance companies and find out if you qualify.

Cyber Liability Insurance for Interior Decorators and Home Decor Professionals

Cyber Liability Insurance (Cyber Risk Insurance or Data Breach Insurance) protects small businesses from the growing threat of cyber attacks. Each year, more small businesses are hacked, their data and personal information plundered by hackers who are trying to steal money and other information from them and their clients.

While it may seem unlikely that a hacker would to target your small business, the research suggests otherwise. A recent Forbes Magazine article outlines the growing importance of this insurance for small businesses, citing research that over 70% of cyber attacks target small businesses.

Why would people hack into your business? Money. They are looking for access to your bank accounts or information that would help them access your clients' bank accounts. They might be trying to find SSNs, credit card information, and other personal data that can help them to steal the identities of your clients, employees, or yourself.

Because you can't "shred" digital data, your business is exposed to this risk. There are simple ways you can improve your cyber security (and maybe qualify for lower CLI premiums). These include…

  • Have high password standards.
  • Encrypt your data (often this means simply checking a box on your settings to encrypt data when your computers are not in use).
  • Install proper network security software.

There are multiple types of Cyber Liability Insurance, but your business will probably only need First Party Coverage, which pays for…

  • Credit monitoring / fraud monitoring for your customers when your data is hacked.
  • Crisis management to sort through your legal and professional responsibilities after the attack.
  • P.R. and advertising campaigns to help your business rebuild after the attack.
  • Reimbursements for credible cyber extortion attacks, when a hacker threatens to install malicious software on your computers unless you pay them.

Errors and Omissions Coverage for Interior Design and Home Decorating Businesses

Errors & Omissions Insurance (also called E&O Insurance or Professional Liability Insurance) protects your business from lawsuits that allege you made mistakes or failed to deliver quality home decorating services.

An interior design business remodels a kitchen. Everything looks great. The client is thrilled. But two months later, there's a problem. The cabinet tops are staining too easily. The surface is chipping and, generally, doesn't look very good. When the client sues their interior decorator, E&O Insurance can pay for lawsuit.

E&O coverage pays for professional lawsuits alleging…

  • Incomplete or substandard work.
  • Goods and services that are not what the customer wanted / agreed to.
  • Mistakes, oversights, and other professional failures to perform your interior design work.

Errors and Omissions Insurance protects your professional liabilities, paying for lawsuits that could threaten to bog down your business with legal costs.

Workers' Compensation Insurance for Home Design, Room Design, and Interior Decorating Companies

Nearly all employers must purchase Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp). This policy pays for a number of the largest expenses related to a workplace injury or illness, including…

  • Medical bills for employees.
  • Employee wages while they recover from illness / injury.
  • Your legal expenses, as the employer, when an employee sues your business for a Worker's Comp illness / injury.
  • Funeral costs and support payments for the family of an employee killed by workplace accident / injury.

While custom building a cabinet set, an employee at an interior design business cuts off a finger. Workers' Comp can pay for the emergency medical treatment, surgery, hospital stay, and other medical costs, as well the employer's legal defense and other costs related to a lawsuit.

Workers' Compensation Insurance regulations vary by state. Some states may allow you to opt out of covering your non-W2 employees. Others may require you to cover independent contractors and day laborers. Sorting through this can be a headache, but our agents will help figure out where you can save money on your Workman's Comp Insurance and meet your state requirements. (To get an idea of laws where you live, check out our state guide to Workers' Comp laws. )

Insureon: Custom-Designed Small Business Insurance for Interior Decorators and Home Decor Professionals

Contact insureon, and let our agents custom design an insurance plan for your interior decorating business. It's free. Seriously. No strings attached. Fill out our simple insurance form, and our agents will figure out your state requirements, find ways to save you money, contact insurance companies, and compile a free insurance quote for the policies you want.

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