Whether you have a beauty salon, spa, or barber shop, you know that running a successful salon business can be demanding and that sometimes the unexpected happens. As in all types of business, when the unexpected happens, you rely on your business insurance. But beauty salon insurance should be different than regular insurance because you have a variety of unique risks.
Salon owners know that their insurance coverage needs to be tailored to their unique demands. The risks that business owners, hair stylists, beauty care, and spa industry workers face can include:
- Skin and eye burns from chemicals. Chemical burns are a real risk in this industry.
- Allergic reactions from different products. Customers may be allergic to a product and not tell you or not be aware of an allergy.
- Slips and falls. Different products or water are often spilt increasing the likelihood of falls.
- Selling damaged or defective products. If your salon sells beauty products you could be liable if they’re defective or damaging.
- Infection from poorly sanitized tools. Your workers or clients could face infection if your tools aren’t properly cleaned.
- Equipment breakdown or theft. Your business can’t operate without the proper equipment, and it can be difficult and expensive to replace.
- Worker compensation due to injury or illness. Workers spend a lot of their day breathing in harmful chemicals, which is damaging to their health.
- Drain and sewer backup due to hair build-up. When you work with hair, you’re likely to face a build-up of it in your pipes.
- Fire from candles or oils. Your business may rely on a calming atmosphere from candles and burning oils or incense.
TYPES OF SALON AND SPA INSURANCE
With all these risks, you’ll want to find an insurance policy that protects your business and covers the costs of any potential damages. To protect your beauty care or hair salon, recommended insurance policies may include:
GENERAL LIABILITY INSURANCE
This protects your small business from third party claims regarding bodily injury, property damage, medical payments, or advertising injury. If someone were to fall in your salon, your general liability insurance would cover any medical costs. Basically, this insurance can cover costs of property damage or injury.
PROFESSIONAL LIABILITY INSURANCE
Liability insurance, sometimes called errors and omissions insurance, protects you from damage caused due to negligence or mistakes in delivering your service. In salons, where you’re applying chemicals to your clients, mistakes may happen. Whether or not you’re at fault, this insurance will help pay for any lawsuits that may arise.
BUSINESS INTERRUPTION INSURANCE
If your salon is ever forced to close because of an unexpected event such as fire or extreme weather, you’ll be covered. Business interruption covers income that’s lost during the forced closure. Make sure your business doesn’t lose money because of events beyond your control.
COMMERCIAL PROPERTY INSURANCE
Commercial property insurance protects the assets that keep your building running. Protect your salon and its contents from fire, theft, or vandalism. When you’re looking into small business insurance, property insurance is a must.
There are many kinds of salon businesses. But whether you run a spa or hair salon, insurance should always be top of mind. Make sure you choose an insurance company that has policies tailored to your salon’s needs. Get your insurance quote today; contact Cornerstone Insurance for a free quote.