What types of damages are covered under a BOP for interior designers?

A business owner's policy (BOP) can cover a range of incidents from advertising harm to property damages.

Combining the benefits of general liability insurance and commercial property insurance, a BOP can offer comprehensive protection against various risks.

» Find out how to know when a BOP is right for you

Types of damages that can be covered

Bodily injury

Through the general liability policy, a BOP can cover third-party bodily injuries in the following ways:

• Medical fees
• Legal defense costs

For instance, if a client trips over a misplaced piece of furniture at your design studio and sustains an injury or takes legal action, a BOP can assist.

But if you're looking to protect your business from financial liability due to employee injuries on the job, you can consider workers' compensation insurance.

Property damage

On the one hand, general liability can cover third-party property damages you or your employees cause by helping with:

• Repair or replacement costs
• Legal fees if you're sued for the damage

For instance, if the furniture is accidentally damaged during an installation at a client's home.

On the other hand, commercial property insurance can cover damage to your physical buildings, such as a design studio or storage unit, caused by a covered event, such as:

• Fire
• Theft
• Certain natural disasters, like tornados

Inventory and equipment damage

A BOP's commercial property coverage can help with risks related to your business equipment and inventory, such as:

• Repair costs - For instance if your high-end printer used for designing blueprints malfunctions due to a fire
• Replacements - For example, if a water leak in your storage room damages imported fabrics or designer furniture

Business interruption

Through the commercial property policy, a BOP can help with business interruptions.

Consider this scenario: a windstorm destroys your design studio, forcing you to close for repairs. With business interruption coverage, you can recoup:

• Lost income
• Pay for operating expenses
• Have help with costs that come with a temporary work location until your studio is ready again

Get the business insurance coverage you need

The unique nature of every interior design business means one-size-fits-all insurance just won't cut it. Your coverage can be as distinct as your designs. That's where NEXT comes in.

NEXT offers fast, affordable interior designer insurance that can be tailored to your business needs. To view your options, simply apply online and get an instant quote in less than 10 minutes. This way, you can rest assured that your creativity, reputation and financial well-being are safeguarded.

Discover more about NEXT's certificate of insurance and how you can share it.



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