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Home Staging Insurance Anyone?

Just had a follow up with my insurance agent today... A good reminder of the paramount importance of having insurance in our line of business. As important is to make sure that any painters, repair people and other specialties that you may refer have insurance.

Reasonably priced insurance policies can often be obtained via trade associations, since they can negotiate favorable rates on behalf of their many members. Imagine the power of negotiating a home-staging specific insurance program with the collective power of all the home stagers on the Active Rain Forum!

Posted by Lisa Kauffman Tharp - BostonHomeStaging.com on 03/29/2007 11:32 AM

Comments (14)

home staging, insurance

14 Comments on Home Staging Insurance Anyone?

MAR

2007

Lisa-if you can orchestrate a group rate for AR stagers, sign me up! This is certainly one area that suffers by not having a national trade association for stagers. I hope you have the time to pursue it.

Insurance? Aren't the painters and everyone bonded separately?

MAR

2007

Lisa, I would love to hear what kind of rates you are able to negotiate via a group deal! I wonder if we could fall into an existing group category like Interior Design?

Hi Todd.

Yes, the painters and other service individuals should be insured. Yet, if there is a problem on the job... perhaps someone gets injured due to something done during the staging process - the painter leaves a can of paint in the baby's room and it somehow catches fire - the home stager who recommended painting and may have referred that painter could also be in line behind the painter if the client is suing for damages, even if the painter contracts directly with the client.

The caveat to all this, of course, is that I am not a lawyer nor insurance agent, but passing along advice that I have repeatedly heard from the professionals.

To all - I am investigating one approach for group insurance and will update you as I learn more. I am extremely busy right now getting homes ready for spring market, and if anyone else wants to join in the search, please post here.

Lisa

APR

2007

Hi Stagers & Redesigners,

We have worked with Stagers & Redesigners throughout the country for the last few years. As such, we have developed a lot of expertise on the nuances of your business. Indeed, I have had my home staged and sold two years ago.

We have worked out a special program for Stagers & Redesigners with select insurance carriers. Please check out my profile:

http://activerain.com/vitallia

and blog for Business Insurance ABC's:

http://activerain.com/blogs/vitallia

Click through the links on the right-hand side. One link has a pdf on "What Stagers Needs to Know about Risk & Insurance."

I'd be pleased to answer any questions you may have. Please email me.

Vitus

APR

2007

Redesign and staging is VERY different from Interior Design, therefore it's essential that your insurer understand those differences and quote accordingly. Our Association is in process of obtaining a group discount for members.

Hi Lisa, YES on insurance. I worked in the insurance industry and know first hand the importance of being properly insured. We all need general liability, which covers us for damage to property owners personal belongings, injuries that may or may not happen (:-)) if someone trips and falls over one of our staging items or because we relocated their furniture and they weren't aware it had been moved :-) and a wide variety of things that people love to sue for. The other insurance we absolutely NEED is Error and Omissions. That will cover us in case someone tries to sue because they said we guaranteed their house would sell. I know, we all have contracts that cover that topic, but people will sue for just about anything. So stagers, if you don't have insurance, run out and get it.

Terry Haugen - STAGE it RIGHT!

Lisa, Yes, yes, and yes again to having a trade organization through which we may be able to purchase insurance as well as other services and items at a reduced group rate.

Vitus (above) is my insurance agent and Vitallia www.vitallia.com (The Hartford) is the insurance I have - it's a comprehensive package and reasonably priced. - Vitus is also very attentive to the customer's needs. (and no he didn't ask me to write that!)

Hello everyone! I am new to Active Rain and I am shopping for insurance now! I never even thought about errors and omissions insurance! About how much are we talking for general liability and E&O? I am in Northern Kentucky so I know the rates are different for each region.

DEC

2008

Lisa, Great reminder, Here in vancouver, bc we can get Home staging / redesign insurance thru the

CRDA if you are a member. Also, some insurance brokers do offer specific insurance

for this line of work.

JAN

There are many carriers throughout the US that offer both G/L (General Liability) and Errors and Omissions coverage in a package type format. The Hartford, which Vitus mentioned above, is one of those companies. Both are very important to have if you are in the business of going into people's homes. Every word you say can be held against you. ESPECIALLY if you use the slogans "guarantee", "100%", "Definitely", "Money back", "Absolutely" just to name a few. These type of slogans which are great for attracting business bind you to the end result of a transaction. So be careful. My agency is in Albany, NY. New York is extremely regulated in these matters.

Another coverage that every Home Stager needs to be aware of is their Business Auto coverage. Many of the Home Stagers that I work will use a vehicle they have on a personal auto policy for their business. Though a much cheaper option, this leaves your business wide open to a lawsuit in the case of an accident. So talk to your insurance professional about your Business Auto exposure. I know of a Home Stager that lost her business because she got into a car accident on the way to a job.

For more info or if you have questions please email me:

http://activerain.com/blogs/rhanley

www.linkedin.com/in/ryanhanley

FEB

I'm currently paying $500/yr for my staging business insurance. Is this in line with the rest of you?

Debra Landy

www.StageTwoSell.net

MAR

Does anyone know of a good insurance co. for a Staging Co. w/ 3 employees? Rates go up significantly it appears. Looking for some affordable rates. Thanks all!

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