As a beauty salon owner, or as an independent contractor working in a Beauty Salon, sometimes the unexpected happens. Not being prepared could be fatal to your business and your finances. Examples of the unexpected accident in a salon is lurking at every turn: it may be a dissatisfied customer who files a claim, a skin or eye burn or eye rash from a chemical used, a customer slips and falls in your spa or salon, or even damage to your building. Whether or not something genuinely goes wrong, an accident happens, or you are just wrongfully accused, by protecting your business, you are also protecting your financial livelihood and your future.
In just a few minutes time, you can get multiple beauty salon insurance quotes online to compare from the top national insurers of Beauty Salon & Spa businesses, and make sure that your business and your future is properly protected.
Choose from standard or custom policies and packages tailored for Salons, Spas, & Barbershops and your own unique business coverage needs, such as:
General business liability coverage protects a beauty salon’s assets if it is sued, whether at fault or not, for causing personal injury or property damage, unless specifically excluded. A general liability policy can be purchased on its own or in combination with a property insurance policy.
Fire, theft, and lightening damage are all risks of owning a salon, spa or barbershop property. Property insurance coverage provides protection against these perils. An open peril policy covers all causes of losses not excluded specifically in the policy. On the other hand, named perils must be listed on the policy in order to provide coverage for a loss. A property insurance coverage policy can be tailored to meet the specific needs of your salon by adding endorsements to increase coverage. Additionally, property insurance can pay for losses in two ways: 1) Actual cash value or 2) Replacement value.
Inland marine insurance is designed to protect your beauty salon or spa property while in transit. Not only does it protect your beauty salon products, equipment, and related cargo in transit, but it protects your inventory being held in storage. When a beauty salon or spa’s equipment, such as hair dryers, curling irons, or inventory is stolen in transit or at the storage site, an inland marine policy would cover the loss. Typically, inland machine insurance is purchased as a supplement to your exiting beauty salon insurance policy. Referred to as a floater, it’s highly recommended to fill in the gaps in your insurance coverage.
Required by every state, workers’ compensation insurance covers beauty salon and spa employees against job-associated illnesses and injuries. It also provides coverages for certain rehabilitation and medical expenses as well as lost wages. It can even provide coverage as a death benefit to heirs of a salon employee who has died from a injury or illness that was job related. As a salon owner, you have a responsibility to keep your employees safe while working. Unfortunately, accidents can happen even though you have all reasonable measures in place to ensure the safety of your employees. Because salon employees are working around chemicals and water, there’s also the chance that a worker may slip and fall on splashed water on the floor or get burned from chemicals used in hair lightening or perming products. To protect you, the small business beauty salon owner, from lawsuits resulting from these types of workplace accidents and to provide coverage for an employee’s lost income from salon workplace accidents, workers’ compensation is a must.
Beauty salon insurance can keep your business afloat in the event of any of these risks and others not listed. When choosing business insurance for your beauty salon, take into account the risks that are likely as well as those you can’t protect yourself from in any other way.
The cost of insurance for a beauty salon depends on many factors, including the size of your salon and its location, whether you have employees (and how many), independent subcontractors, or if you are working by yourself out of your home. It's best practice to take the time to shop for the beauty salon insurance that best fits your needs and budget.
Insurance should be a priority for any business. As a business owner, having beauty salon insurance is a necessity to protect your business, your staff, and yourself. Not being prepared can have a severe impact on your business, and in extreme cases, you could find your business lost without the right insurance coverage. Unforeseen accidents happen all the time, and your business needs to be protected.
As a beauty salon owner, some coverages will be necessary for your business. These coverages include general liability insurance, property insurance, and if you have employees, you will need to carry workers' compensation insurance should one of them get injured while working.
In a single word, yes! Stylists who rent chairs at a salon need to have their own insurance; many times, salon owners will require chair renters to have their own booth rental insurance before working at the salon. Chair renters face the same types of risks that the owners do and need to have insurance that will protect them.