*** Disclaimer ***
Please note that the information and advice given here does not constitute legal or professional financial advice. The information given here is for guidance only. You should consult a qualified solicitor for legal advice and a financial advisor for financial advice.
As a freelance interior designer or small design business, it is essential to make sure that you have insurance in place in order to protect yourself and your business.
There are several types of insurance:
Professional Indemnity, Public Liability and Employers' Liability
Professional Indemnity Insurance: Also known as professional liability insurance, this covers legal costs and damages awarded if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money. An example of this could be if you mis-measured carpets and found they were too small, or if you advised a certain paint finish which reacted with another product and caused a problem.
Public Liability Insurance: This insurance protects you if you cause injury to a client, contractor or member of the public or their property as a result of your work. If one of your contractors damaged the wall of your client's entrance hall whilst bringing in a roll of carpet, for example, you would be protected with this insurance.
Employers' Liability Insurance: This is only needed if you employ people in your business, but if you do, it is a legal requirement to have it. If you are using subcontractors, you should ensure that they have their own insurance in place.
A google search will bring up several insurance companies that provide insurance for freelance interior designers and small business owners and you should do your own research.
The British Institute of Interior Design provides an insurance scheme to their members, in conjunction with Trafalgar Risk Management.
Hiscox insurance has also been recommended as a good company to use, but as above, you should do your own research.
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