Beauty and hair salon insurance policies are a popular investment for salon owners because salon insurance can cover a wide variety of expenses. These days, the high growth rate of salons means that many salons will expand their business in the next few years. As a result, competition for customers is fierce. Many new salons offer discounts or free services. Salon insurance will help protect your investment by providing you with a policy that covers your equipment and your employees, as well as a loss limit that will cover the total cost if a loss occurs.
The cost of beauty and hair salon insurance depends on various factors, from policy requirements to employee size. For instance, a small salon with only three employees will have a significantly different cost to insulate than a large salon with twenty employees. The smaller business may be sued for injuries if they are held liable for the injuries of employees. In addition, there might be a slip-and-fall problem at the salon that causes an injury to a customer. Again, this might be covered by your salon insurance policy.
Depending on what kind of salon you run, you may also need to consider liability insurance. This coverage protects you if a customer makes an injury-related claim against your beauty salon. Claims for conditions that are directly caused by services done at your salon, such as dry skin, dandruff, or chemical damage, would also be covered by this type of policy. A liability policy will usually include coverage for pain and suffering, lost wages, and permanent disability, and cosmetic damages. If your salon is sued for a condition described in this paragraph, beauty salon insurance would cover the claim.
When it comes to the world of hairdressing, there are many things that salon insurance will not cover. Most salons have hair stylists on staff, so professional liability insurance is a necessity. Hairdressing is a profession that often requires people to cut or color people’s hair, so this is a specialized type of insurance. Professional liability insurance will not cover accidents that happen during the course of doing a job, such as cutting someone’s hair and breaking their finger. These types of cases rarely result in claims being made, so the cost of having a professional liability policy will probably be more than the cost of your salon insurance.
Another aspect of salon insurance that most salon owners don’t think about is that many risks can be prevented if they take preventative measures. For example, people can prevent cuts to their scalp by using clippers before getting out of the chair. Similarly, people can avoid too many falls by making sure that there is plenty of room in the salon for sliding doors, not just in the bathroom, but also in the rest of the building.
If you are going to run an indoor salon, you may need indoor air quality certification. This certification will protect you from clients with respiratory problems who are attracted to your salon. You may also need coverage for damage to furniture or fixtures if they are accidentally bumped during regular business hours. There may even be insurance required if you have live entertainment in your facility. It’s important to check your salon insurance policy to determine what is covered, and what you may need to purchase to make sure you’re covered.
Another thing that many salon owners don’t think about is that they need to have bonding and insurance requirements for employees. A cosmetologist will typically not be covered by state laws; however, an assistant hair stylist or manicurist, depending on how long they’ve worked for the business, may be covered. This is something you’ll want to discuss with your local cosmetology board.
Some cosmetologists will work for a specific beauty salon company for years; others may only have been working for a couple of months. This means you’ll need to keep good records of employment history for each employee you have and be sure to include this information with your salon insurance quote.
Finally, some salons elect to provide breakdown coverage for their customers. Unfortunately, this kind of insurance may be extremely expensive, as it covers only the basic tools needed to open and use your salon. This means basic hair styling products, conditioners, hair brushes and combs are not included. It’s a good idea, nonetheless, to make sure this protection is included in your overall salon insurance plan.
