Many companies engage in an insurance audit once a year. An insurance audit is basically a review of all current insurance policies and an analysis as to whether or not current policies are adequate coverage.
In addition to the standard auto/home owners/life insurance policies, Home Stagers should also consider:
- Personal liability insurance -What if you plug in a lamp with a short in the cord and start a fire? What if you break or damage an expensive piece of furniture or artwork?
- Insurance on inventory - Cover all inventory that is rented out, whether it is owned by the insurance company or rented (if you have such a policy make sure you don't also pay for insurance from the rental companies when renting items)
Since many of our businesses are continually evolving, it may be a good idea to engage in an insurance audit every six months as opposed to only once per year.
Here's to safe Staging!
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