• Interior designers
• Decorating consultants
• Interior design consultants
• Interior decorating consultants

Interior designers need insurance to protect themselves, their businesses, and their clients from liabilities and risks associated with their work. This includes coverage for potential property damage, accidents, professional errors, and legal claims arising from their design services. Depending on your state, interior designers and decorators are required to have certain business insurances like E&O and general liability.

A Pen-Ex program specialist can discuss your business goals and outline the best and most affordable interior design insurance plan to keep your business and personal assets safe. Moreover, we will bundle coverage together, with our specialized programs, to get you the very best coverage and pricing.

There are many ways to manage risk within your business, all of which are part of a sound risk management program.

• Having people take ownership of their participation, such as signing waivers
• Defer risk to a third party by buying an insurance policy
• Require clients to sign service agreements

Require contractors to sign subcontractor agreements or purchase their own insurance

• Projects that go over budget
• Advice that doesn’t work out
• Mistakes in measuring that add additional costs
• Failing to complete a project on time
• Material acquisition error
• Modifications in the plan of the design
• Failing to abide by the building codes
• Dissatisfied clients
• Property damage or injury due to professional negligence

E&O insurance pays for legal defense costs and any judgments or settlements arising out of lawsuits from professional misconduct, errors, and omissions. Because there’s the potential for any designer to make mistakes, essentially all decorators and interior designers need this type of coverage.

Yes, typically, design tools and equipment are covered under interior designer insurance policies. These policies often include coverage for business property, which extends to tools, equipment, and supplies used in the course of your interior design work. However, it’s essential to review your specific policy to understand the extent of coverage.

When filing an interior designer insurance claim, it’s crucial to first notify your insurance provider as soon as possible. Then, gather all necessary documentation, such as incident details, photographs, and any relevant communications. Be sure to complete any claim forms accurately and thoroughly, and cooperate fully with the insurance company’s investigation process. Finally, keep track of all correspondence and follow up regularly to ensure your claim is processed efficiently.

Yes, there may be exclusions or limitations to coverage that you should be aware of when considering interior designer insurance. Some common exclusions or limitations to coverage in interior designer insurance may include:

• Exclusions for intentional acts or fraud.
• Limitations on coverage for certain high-risk activities or services.
• Exclusions for claims arising from failure to meet contractual obligations.
• Limitations on coverage for damage to certain types of property.
• Exclusions for claims related to professional errors or negligence.

The average cost of an Interior Design Insurance Program can vary on the business structure, experience in the business, claims history, the amount of property they own, whether or not they have employees or vehicles, and other various underwriting criteria. Our interior designer insurance premiums start at $500 per year. However, the average cost nationally for an interior designer business owner’s policy is about $1,200 annually, and adding E&O increases the cost to $1,500- $1,700. Worker’s Compensation costs will depend on the number of employees and the resulting annual payroll per classification code.