Professionals To Insure
Barbers
Cosmetologists/Beauticians
Estheticians
Hair Dressers/Hair Stylists
Nail Technicians
Small Salon Owners
Salon Insurance Business Owner’s Policy
Most hair salons have a Business Owner’s Policy (BOP). Why? Because it helps protect your beauty business in much the same way a homeowner’s insurance policy helps protect your home and personal possessions.
By combining three basic insurance coverages that are important to virtually every small business, including beauty salons, a Business Owner’s Policy (BOP) can help save you money while safeguarding the salon business you’ve worked so hard to build.
General Liability – helps protect your hair salon from certain lawsuits alleging injuries or property damage that occurred as the result of your business operations, like if a customer falls and is hurt while in your salon or an employee spills hair color and ruins a customer’s purse or clothing. It even helps cover certain claims of slander and libel against your business. Business Liability does not cover liabilities directly arising out of the professional salon services you may provide.
Commercial Property – helps protect the place where your run your hair salon and the tools and equipment you use to conduct business, like furniture, styling brushes, curling irons, and computers – whether you own or lease them.
Business Income – helps cover the loss of income when you can’t run your salon business because of covered property damage.
Special Salon Insurance
Depending on the types of services you provide, you may need some or all of the following types of insurance for beauty salons:
Drain and sewer backups: If you own a hair salon or barber shop, special coverage options may be a good choice, such as drain and sewer backup coverage to pay for the costs of water damage to your walls and floors if your drains become clogged with hair.
Fire liability: If you own a spa or esthetician services salonan use candles and flammable oils, you probably need fire liability coverage. If you are sued over a fire that starts within the walls of your business, your legal fees and settlement are covered, up to the limits of your policy.
Equipment breakdown coverage: If your salon is dependent on equipment such as tanning beds, computers and other machines for revenue, equipment breakdown coverage could be a good investment. This coverage ensures that you can get the gadgets you need back online quickly without emptying your bank account.
Inland marine: Provides financial protection for equipment that is in transit or in storage. If your employees perform esthetician services, hair care, or spa services in outside locations, such as weddings and private homes, inland marine coverage protects you from equipment loss on the go.
Professional Liability: Scissors, chemicals and hot surfaces means errors and omissions can happen in a hair salon. You can be sued for damages and expenses resulting from the professional beauty services you and your staff provide, or the failure of your professional services to perform as intended, even if you’ve done nothing wrong. If you are sued, Professional Liability insurance provides financial protection that can help protect your salon’s assets and help cover the cost of your defense in the event of a lawsuit.
Data Breach: Hair salon businesses may store sensitive information about their employees, stylists, manicurists, and clients. This data can include Social Security and debit/credit card numbers. If this information is lost or stolen, it could leave your salon business vulnerable to lawsuits and a damaged reputation.