Staging a home can be very exciting. You’ll get to use your interior design skills to impress your clients and their guests. Can you create a masterpiece that will satisfy everyone involved? There is only one way to find out. Canadian companies and consumers often use the services of home stagers for one reason or another. You’ll be able to find plenty of work but you have to take steps to protect your company from potential professional liability risks. When working as a home stager, there is a risk that you’re going to mess something up.
You may not stage the home correctly or you may put the wrong number on the invoice. When this happens, you’ll probably face a lawsuit from your client. You need to use home stager insurance to defend your company.
What Is Home Stager Insurance?
You’ll likely hear associates talk about professional liability insurance. It sounded like a good idea but you haven’t signed up yet. Home stager or professional liability insurance is not something that can wait. You need to sign up for this insurance as soon as possible. This insurance protects Canadian companies, including home stagers, from professional liability issues. If you’re sued for a professional liability problem, you can use this insurance to defend your company.
It can help assemble a high-quality defense team and expert witnesses. This ensures that you’ll be able to fight back and clear your name.
What Will Home Stager Insurance Cover?
Ultimately, home stager insurance is not going to cover claims of property damage and personal injury. For those claims, you’ll need to sign up for general liability insurance. Nevertheless, home stager insurance covers a lot of potential problems. It is another name used to describe professional liability insurance and it focuses solely on professional liability lawsuits. There are several common problems that can lead to a professional liability lawsuit. Your insurance will cover all of these. Home stager insurance covers professional liability lawsuits stemming from misunderstands, clerical errors, missed deadlines, and disclosure issues.
When business is booming, you may not get to stage a client’s home before the deadline. This could create problems for you and the client. It may lead to financial loss. This is one situation when you’ll likely have a professional liability lawsuit filed against you.
What Does Home Stager Insurance Pay?
Home stager insurance is pertinent because it pays a lot of things. With home stager insurance, you can rest assured knowing you’ll be able to defend your company in the courtroom. Professional liability insurance will help you cover a handful of legal costs including lawyer’s fees. In addition to this, you’ll be able to use your home stager insurance to pay for expert witnesses. With their help, you’ll have a better chance of avoiding an expensive court judgment. You still never know how the judge is going to rule.
Thankfully, your insurance has you covered. It will pay settlements, court judgments, administrative expenses, and court fees. If you’re going to court for a professional liability issue, you’ll want to defend your company with professional liability insurance.
Ways To Avoid Needing To Use Your Home Stager Insurance
It is generally best to avoid all professional liability lawsuits. If you can avoid using your insurance, you’ll likely be able to save money and avoid trouble in the long run. While you cannot ignore this insurance, you might be able to avoid using it. To do that, you should always use legally sound contracts. By working with an attorney, you can create contracts that significantly lower your professional liabilities. You’ll also want to be aggressive when it comes to getting everything in writing. Make sure that you keep records of your communications with your clients. And, you should chat with your clients regularly.
Let them know what is happening with the project at all points. This can help you avoid angering your customer.
What Does Home Stager Insurance Not Cover?
While home stager insurance is pertinent for your business, it isn’t comprehensive. You’ll find that this insurance doesn’t cover all potential problems. It won’t cover your business property or business equipment. If something goes wrong with either, you’ll need other insurance policies to protect your company. In addition to this, home stager insurance does not offer protection from claims of property damage and personal injury. Again, you’ll need other insurance coverages to defend your company from these claims.
What Insurance Does A Home Stager Need?
Home stagers need professional liability insurance. You’ll also need several other insurance policies so you can fully protect your business. You’ll want to talk to your agent about general liability insurance because it defends claims of personal injury and property damage. Also, you’ll need to learn more about business contents insurance, business interruption insurance, and cyber insurance. Having all of these policies will prove to be beneficial to your company in the long run.
You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.
Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.
Types of disability insurance
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
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FAQ before purchasing liability insurance
- How much professional liability insurance do I need?
- How do I get a liability insurance policy?
- What does professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance
- How does the claims process work if I get sued because of my professional services?
- What is the cost of professional liability insurance?
- How do I apply for a professional liability insurance policy?
- How do I qualify for coverage as a professional service provider?
- What is the purpose of getting insured as a professional?
- How long will it take to get an insurance quote for my business?