Interior Designers Business Insurance in Wisconsin
What is Interior Designers Insurance?
Interiors designer’s insurance is general liability insurance. Interior designers are commonly referred to as interior decorators, may do home or commercial design. It is a very important part of your interior design insurance program and normally the first policy you will buy.
It is the primary or core insurance policy for your Wisconsin design business. General liability insurance covers bodily injury and property damage claims presented by third parties. There are several different limits of liability coverage, like $300,000/$600,000, $500,000/$1,000,000 and $1,000,000/$2,000,000, which is most common and highly recommended. Many interior designers will carry a commercial umbrella which goes over and above the general liability and some other coverages.
There can also be a property damage deductible. This means you would pay the first say, $1,000, $2,500 or $5,000 if you were to be damaged something “other than” what you are were working on. This should be taken into considered before purchasing your interior designers liability insurance policy. General liability insurance covers your premises, products, operations and completed operation (once your work is done). Voluntary property damage coverage should also be considered, which can provide limited protection for your work. As well as professional liability or errors and omissions insurance. Feel free to click here if a more detailed definition on general liability insurance:
How much does Interior Designers Insurance cost in Wisconsin?
Not as much as you might think. Being an independent insurance agency and independent insurance advisors, we believe shopping multiple Wisconsin insurance companies (for maximum savings). Also, working with an experienced contractor’s / small business insurance agent is key to finding low cost rates for home or commercial interior design business insurance. Wisconsin interior decorators might expect to pay $482.00 to $750.00 per year for a start up with one active owner. The insurance is rated using payroll, a specific rate is assigned for one owner and then employee payroll can be added on. So, basically the more owners and payroll, the more the insurance premium each year. If you have been in business awhile, then having a good claims history (loss runs/loss history) can have a positive or negative effect on your home or commercial design business insurance premiums. Insurance companies also audit your operations/books, and this keeps the rates fair for everyone. They are looking for sales, payroll, number of owners and a portion of your taxes in some cases.
Here are some tips on handling & purchasing Interior Designers Insurance in Wisconsin?
- Do business with an agency that are contractor and small business insurance pros. Most agents certainly are wanting to sell you a policy, but is it the right policy, best for your needs now and in the future? Our office specializes in contractor’s insurance and will help you make the best choice for your home or commercial interior design business. An experienced business insurance agent makes the difference.
- We offer you a choice in interior design business insurance companies. Working with multiple companies and shopping the market, offering you the best combination of price, coverage and claims service. Interior designer insurance / interior decorating general liability insurance can be difficult to find, especially if you are new in business.
- Only do business with insured sub-contractors. Insurance companies don’t want you work with uninsured sub-contractors (perhaps interior carpenters). The rate for an insured sub is 1/10th the rate of an uninsured one. Why are they rated in the first place? You can be easily drawn into a claim because you are the general contractor, that’s what attorneys do. Defense cost is a common expense.
- Have a written contract signed and certificates in hand for all sub-contractors BEFORE they start working or are allowed on the job. The contract should include a hold harmless agreement and insurance requirements. Some typical insurance requirements are: additional insured, waiver of subrogation, go going and completed operations, primary / non-contributory language, per project, commercial auto coverage, workers compensation coverage (even if you don’t have employees), a commercial umbrella policy, to name a few.
- Your interior designer insurance agent should be familiar with the audit process and even double check things for you, so you are not over charged.
- An experienced contractor insurance agent will help explain things, making it an easy process. You don’t handle insurance every day, but we do and have your best interests at heart.
Let us compare your Wisconsin Interior Decorating Business Insurance with multiple companies and help you choose wisely.
Our goal is protecting your WI interior design business, then we save you time and some money. We do this by shopping multiple Wisconsin contractor insurance companies to find you the very best protection and very affordable rates. By bring multiple options to the table, giving you a choice in insurance plans. Helping you customize a home or commercial interior designer’s business insurance program that is not only cost effective, but right for your growing Wisconsin business.
Contact Us for a Quote
We are ready to discuss your residential or commercial interior designer’s insurance and know we can help. You know the WI interior design business and we know Wisconsin contractor’s insurance.
If you are looking for interior designer’s insurance in Wisconsin, you came to the right place. We cover designers statewide! Read our BIO, then just pick up your phone or complete our quick quote form to the right. We promise to make it easy, fast and very affordable.