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Industry Insights

Words of wisdom from our business insurance experts.

What insurance does an interior designer need?

6 min read
November 30, 2021
What insurance does an interior designer need?

Your business is built on creating beautiful, functional residential and commercial spaces your clients love. You enjoy working with color palettes, picking textiles, and working with clients to make their interior and exterior dreams come true. 

While you are busy designing for your interior design firm, let Fullsteam Insurance source the right insurance policies that protect your company from any liability and help you implement a risk management plan to safeguard your business from any unforeseen risk. 

Did you know that there are more than 71,000 interior designers in the U.S. and roughly 59 percent of them are self-employed? While owning and operating your own interior design firm can be very satisfying, there is only one way to proactively preserve your business from financial ruin or reputational damage. And that of course involves sourcing and employing the right business insurance policies with the expert advisors from Fullsteam Insurance. 

Business insurance for interior designers and their respective firms protects your company from general and professional liability claims that could lead to exorbitant legal fees and damages. Whether you’re a sole proprietorship or operate with several employees, safeguarding your interior design firm with the right insurance coverage should be a top priority. Fullsteam Insurance helps interior design professionals compare policy options to find the best plan with the broadest coverage at the right price.

Our goal at Fullstream Insurance to help educate business owners and key decision makers about the insurance market. Our team of expert insurance advisors will clear up misconceptions regarding insurance policies, clarify loss mitigation strategies, and identify clear steps on how to set up an insurance program to protect your business. 

Our expert advisors recommend five primary insurance policies to mitigate any potential risks.

  • General Liability: This policy protects businesses from common lawsuits, such as bodily injury, property damage, and advertising injuries. It covers bodily injury to another person, third-party property damage, personal and advertising injury, medical expenses, and much more. 
  • Business Property Insurance: This policy is also known as, commercial property insurance which covers your office space and the belongings within it from damage, fire, vandalism, pipe bursts, or natural disasters like earthquakes or wildfires.
  • Errors and Omissions: This professional liability policy protects your business if a client or customer claims you failed to perform duties that were promised in your contract.

*Fullsteam Insurance Advisor Tip: Combining general liability and business property insurance into a business owner’s policy will save you money.

  • Workers’ Compensation: This policy covers medical expenses associated with work injuries. This insurance policy is required by most states, except Texas.
  • Commercial Auto Policy: Personal auto insurance policies do not include business use coverage for vehicles. Therefore, you could end up paying for an auto accident if it happens during working hours like on your way to a client appointment at their residence. 

*Fullsteam Insurance Advisor Tip: Hired and non-owned auto insurance can cover employee's personal vehicles used for business purposes (in excess of the employees personal auto policy).

  • Cyber Liability Insurance: Cyber liability insurance can help interior design firms survive data breaches and cyberattacks experienced by your company

It may seem like adding a risk management plan with business insurance can be expensive for your interior design firm, but the reality is the cost of an insurance policy is far less than the costs your business could face when claims are made against your firm.

Without a general liability insurance policy your firm can payout on average $20,000 for a slip and fall accident that occurs in your office or reputational damage that can cost your firm upwards of $50,000. A client can even take you to court simply because they are dissatisfied with your interior design firm’s services, resulting in your company paying for legal fees and even settlements for the claim, even if there is no merit to their claim. 

Our insurance experts have gathered a few helpful facts on the importance of implementing business insurance policies for your interior design firm. 

  1. An interior design firm’s insurance premiums are tax-deductible. We recommend you speak to an accountant if you have questions about your business’s deductible expenses.
  2. Your firm may be required by law to implement some insurance policies. For example, if your business is in the state of California you are required to have workers’ compensation, however if your firm is in Texas, you are not required. 
  3. The cost of a business insurance policy is far more affordable than the cost of litigation and settlements made on a claim when you don’t have insurance

We offer affordable coverage for any size of firm, from a sole proprietorship business with one employee to a large firm that spans several states with dozens of employees. Our priority is negotiating the best coverage at a competitive price and being flexible with our clients.  At Fullsteam Insurance we have access to the most reputable insurance carriers in the business across the nation and we can tailor any business insurance policy to fit your needs today and as your company grows.

Our dedicated insurance advisors are always a click-away to deliver world-class customer service. They understand how to manage complex risk with secure business insurance policies. We ensure our customers understand their policies by breaking down industry jargon, working with them every step of the way, and making sure they get the best coverage at the best price. When you work with Fullsteam Insurance you can always connect with your insurance advisors quickly and effortlessly, because we know time is of the essence when risk management is at stake. 

Discover your trusted source for personalized business insurance policies for your interior design firm that will shield your business from liability. Get the coverage you need at the price you want, so your company continues to grow.

Our Fullsteam Insurance team works hard for your business with world-class customer service, cutting-edge technology, and interior design industry knowledge. Our goal is to disrupt traditional insurance brokerages by pairing innovative technology with our expert insurance advisors in an easy and modern way. We have built an insurance platform that serves your industry needs, while fostering life-long relationships. Our job is to protect your business so you can focus on what’s important – running your interior design firm, helping your client, and continuing business development. 

Tyler Crawford
by Tyler Crawford
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