Errors and Omission Insurance For Interior Designers - PenEx Insurance (2024)

Get a Wide Range of Insurance for Interior Designers

• General Liability
• Business Personal Property (for all locations)
• Business Auto, Workers Compensation, and Umbrella
• Professional Liability (E&O) and 3rd-party Crime
• Workers Compensation

When accidents or incidents do occur, it can cost you both time and money to remedy the situation.

By signing your business up for an interior designer insurance policy, you can develop a solid plan to prevent and manage claims. Get a fast, free quote for the plan that would best suit your business, based on coverage, pricing, or both.

Why Choose PenEx’s Interior Designer Liability Insurance?

• Experience: We have over 40+ years of experience providing insurance for interior designers in all 50 states.
• Tailored Coverage: We offer tailored coverage designed specifically for interior designers.
• Low Premiums: We offer competitive rates through our own insurance captive.
• Risk and Claims Management: We include risk and claims management from our in-house attorneys.
• Pre-Claims Assistance: We offer pre-claims assistance with risk management tools to keep you out of a claim.
• Worry-Free Claims Reporting: If we don’t pay anything, you don’t pay anything.

Most people might not think of interior design as the kind of business where there are many unexpected hazards or costs. However, as is the case in any industry, several different problems can happen while on the job. When those accidents or incidents do occur, it can cost you both time and money to remedy the situation.

By signing your business up for an interior designer insurance policy, you can develop a solid plan to help ensure that neither you nor your company ends up in hot water. You can also feel confident that when things do take a turn for the worst, you’ll be fully protected. By contacting Pen-Ex, we can give you a fast, free quote for the plan that would best suit your business, based on coverage, pricing, or both.

I’ve been insured with villaNOVA Insurance Partners/PenEx Insurance for my interior design business for the past 4 years, and the experience has been exceptional. The coverage tailored for interior designers and stagers is industry specific and very comprehensive, meeting all my business needs. Leah Check has proven to be an invaluable resource; her impressive industry knowledge ensures I have the right coverage for my unique requirements. She is consistently helpful and quick to respond to my questions. Having a dedicated support person who understands the ins and outs of my industry is truly invaluable. I highly recommend villaNOVA Insurance Partners/PenEx Insurance for interior designers.
– Angela Crowne, Owner & Designer, Interiors To Move You LLC

Working with Nova Insurance through the DSA Insure program has been a simple and affordable way to get the coverage I need for my interior design process. The entire application and approval process were smooth sailing. Their team is not only professional but also incredibly understanding of the unique needs of the interior design industry. They made sure I got the coverage I needed without drowning me in complicated paperwork…If you’re looking for an insurance partner that makes things easy, affordable, and genuinely cares about your business, DSA Insure is the way to go.
– Amanda Arcone, New England Home & Interiors

How to Manage Risk as an Interior Designer

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

Do Interior Designers Need Insurance?

Depending on your state, interior designers and decorators are required to have certain business insurances like E&O and general liability. Also as an interior designer, you are susceptible to common risks like property damage and breach of client contracts. Interior Design Insurance protects that you and your business from these common claims.

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.

BOP (Business Owner’s Policy):

Nearly every business should start with a BOP or commercial package (depending on their industry). The Business Owner’s Policy is a packaged product of General Liability and Property coverage that includes many other “bells & whistles” coverages via premium endorsem*nts or can have other important coverages, like Employment Practices Liability, or Cyber Liability added at a sub-limit for an additional premium.

BOP Components:

• General Liability: Third-party coverage for injury or property damage. This is important insurance for interior designers as they will most likely be doing work at another person’s premises. If through your own negligence, cause someone to get hurt (like leaving a tool on the ground that your client trips and falls to injury) you would be covered, not only for your client’s medical bills but if they should sue you for pain and suffering. You would also be covered should you cause physical damage to your client’s property (like knocking over a china cabinet, or scratching the floor and furniture).
• Property: Under the property section you will have first-party property coverage to insure your inventory, tools, computers, office furniture, and more. Business Interruption coverage, for losses to your income, while your business is shut down due to a covered peril, also is covered under the property section of your policy.

Errors and Omissions Insurance For Interior Designers

If you’re sued, not because of bodily injury, but because of a failure in your professional capacity such as giving bad advice and recommending a floor that’s easily damaged, general liability policies (BOP) won’t cover you. E&O covers financial loss to a third party.

What Does E&O Insurance for Interior Designers covers?

• 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.

Worker’s Compensation

If you have employees on your payroll, or even if you are subcontracting the same people every day (which can constitute an employee equivalent from a WC perspective), you will need Worker’s Compensation insurance to cover employees’ medical and wages should they get injured on the job.

What Are The Typical Costs For An Interior Designer Insurance Program?

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.

Stay Covered & Protected With PenEx’s Insurance For Interior Designers

To protect your interior design business, the first step is to identify your specific needs based on your projects, size, and employees. At PenEx, powered by villaNOVA Insurance Partners, we offer a wide range of interior design insurance options. We can help you choose the coverage that’s right for your business, and we can tailor a plan to your specific needs. Contact our skilled agents at Pen-Ex: A Villanova Insurance Partners Company today for a free quote on interior designer insurance and to discover what will best work for you and your business.