Professional Indemnity Insurance for Interior Designers: Your Questions Answered

16th September 2021 | IN INDUSTRY NEWS & BUSINESS | BY SBID

Commercial insurance is often synonymous with buildings, contents or employers’ liability insurance. It can be difficult to recall or understand the need for professional indemnity (PI) insurance. As SBID’s trusted insurance partner, Marsh Commercial are here to explain all you need to know about PI insurance.

Do interior designers have to take out PI cover?

SBID members are required to take out PI Insurance as part of their overarching commitment to quality and consumer protection. Also, some commercial clients may ask to see evidence that PI cover is in place in advance of an appointment. Compulsory or not, many professionals opt for the cover because of the protection and security it provides in the event their advice or service fails to meet a client’s expectations.

What’s the benefit of PI?

Having a policy in place can reassure your existing clients and help you secure new clients. While you may endeavour to deliver perfection, occasionally mistakes will happen. A PI policy protects you and your business if your clients alleges financial loss. PI insurance is part of the SBID’s commitment to quality, promoting confidence and strengthening the industry with an appropriately equipped workforce via enhanced professional trading standards.

The SBID’s trusted insurance broker, Marsh Commercial, explains all you need to know about PI and how to choose a provider. Sign in to SBIDPro to learn more. Members also have an opportunity to join the upcoming CPD webinar with a live Q&A hosted by the insurance experts.