Benjamin Franklin once said, “By failing to prepare, you are preparing to fail.”
This could be said for many things in our lives—not studying for an exam, not mapping directions to your final destination, not taking lifesaving medication. So many things. But, for residential interior designers, that can come in the form of not preparing for things like fires, water damage, scratches, or scuffs during an installation, renovation, or room staging.
That’s why it’s essential to consider the best option for insurance coverage when it comes to your business. Because failing to prepare for such incidents can undoubtedly lead to you simply preparing for your business to fail.
Our team recently had the pleasure of interviewing Victor D’Angelo, COO at VillaNOVA Insurance Partners, which manages DSAinsure Insurance and Risk Management.
The advice D’Angelo shared, and even one very real-life story about a client, helps illustrate the importance of finding a provider and policy designed specifically for interior designers.
DSAinsure offers a lower cost to protect your business by cutting out the middleman.
Protect Your Business With DSAinsure
By Lindsay Field Penticuff
Imagine, if you will, that the warehouse where you store all of your design inventory catches fire and a majority of the contents are damaged—with very little being salvaged.
What would you do? What should you do? Who should you call first?
This is where the team at VillaNOVA Insurance Partners, which manages DSAinsure Insurance and Risk Management for the Designer Society of America (DSA) members under the program name PenEx. DSAInsure provides insurance for interior designers, stagers, and kitchen designers. To learn more, visit https://www.pen-ex.com/dsainsure-insurance-and-risk-management/ and complete a DSAinsure application, or contact Leah Check at (877) 438-7369, ext. 226, or email Leah firstname.lastname@example.org.
“We have a whole risk management team that is staffed with lawyers, risk managers and claims adjusters who do risk management,” says Victor D’Angelo, COO of VillaNOVA. “This means we create tools like service agreements and subcontractor agreements specifically for interior designers to keep them out of trouble and to make sure that they don’t get into situations where claims arise.”
Part of the risk management piece is educating creative professionals and making them understand the steps involved when going to a job. The first step should be using a service contract when engaging with a new client. Secondly, using subcontractor agreements when bringing anyone else on the job who will do work for you is paramount. Lastly, ensure that the subcontractor has adequate insurance in place, holds harmless, and indemnifies you and your business.