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Interior designers and decorators professional liability insurance is sometimes referred to as Errors and Omissions coverage, or E&O. This insurance is meant to help protect your company if a customer makes legal allegations that you made a professional mistake. When lawsuits of this sort arise, whether you are actually at fault or not doesn’t matter. You will still have to bear the expense of legally defending your company against the suit.
For example, a customer may hire your firm to redecorate their residence in preparation for sale. After you have completed the work requested, that customer may sue your company claiming that your services caused them to lose $20,000 on the sale. Whether your firm actually made a mistake or not does not change the fact that you must defend yourself against this lawsuit. Without interior designers and decorators professional liability insurance, you may suffer financial hardships paying for your defense.
With the appropriate level of interior designers and decorators professional liability insurance, your policy can pay for your litigation expenses instead. It can also pay you for losses in income if you must spend time away from work while dealing with case related events. When applicable, this insurance also pays client settlements, judgments and awards.