Our Home Staging Insurance Policies Cover:
- General Liability
- Business Personal Property (for all locations)
- Business Auto, Workers Compensation, and Umbrella
Professional Liability and 3rd-party Crime
When putting up a residence for sale on the real estate market, many people find that staging the house beforehand drastically increases the number of potential buyers. With this comes higher potential selling points as well as an expedited sale.
However, owning a real estate staging business can come with some hazards. Were anything to happen to the property while it was being staged, the blame would likely end up on you and your business, which could have serious financial implications.
By protecting your business with home staging insurance, you could easily avoid any potential legal headaches that may arise.
Why Do Home Stagers Need Insurance?
There are any number of potential accidents that could happen on a staged property. The important thing to remember is that you are staging another person or company’s real estate, which means that you and your business are responsible for all the people and belongings on the property as well as the property itself. In other words, if something is broken, lost, or stolen, you could be held responsible for the loss of that item depending on the circumstances of the loss.
The same principles apply when an injury occurs. If someone were to hurt themselves on the property because of the real estate staging process, you could be responsible for that injury in the eyes of the law. However, the benefit of having home staging insurance is that you can protect yourself and your business from any additional liability and to ensure that you can cover any legal costs if you are sued.
What Are Your Home Staging Insurance Policy Limits?
Our home staging insurance policy limits are:
- $4,000,000 in business general liability coverage (on and off premise)
- $5,000 for customers property in your care, custody and control or higher limits
- Staging inventory protection at home/office and while temporarily off premises, whether in a house for sale or while in transport. Rental furniture and equipment are also included in this coverage
- Hired physical damage to rent trucks up to $75,000
- Office equipment and storage location coverage
- Low policy deductible
What Do I Give up by Not Using an Agent to Purchase Insurance?
Many property-casualty and life insurance products can be purchased without the use of an agent. Typically, potential policyholders will either be contacted through mail, internet ads, or through an 800 number to apply for the insurance product. These companies claim to have better pricing, but many times they do not.
They claim to save you money by “cutting out the middleman,” but what they do not tell the consumer is they are spending hundreds of millions of dollars on TV, radio, mail, and newspaper ads on their distribution system as well as employee expenses. Instead of receiving personal, customized, quality local service from a highly trained insurance professional, the consumer is many times buying an inferior product that is based on price only and impersonal service from distant and minimally trained employees.
By purchasing one’s insurance from an independent agent, a consumer can talk to the same people every time.
Protect Your Real Estate Staging Business with PenEx
The risk of liability is so great when staging a piece of real estate. Consequently, it really is in your best interest to consider a real estate staging insurance policy. To find out what potential policies would best suit your real estate staging business, contact our agents at PenEx for a free quote today.