Your business is all about making people look and feel amazing. Your ability to boost someone’s confidence with a new haircut or give the ultimate relaxation of a perfect pedicure is a gift! While you dedicate your entire career to caring for clients, making them look and feel good, you must also take care of your business. Protecting your business with the correct insurance can help ensure you are able to make people beautiful for years to come.
Your insurance needs within the beauty industry will vary based on your specific profession, as well as the stage you’re in for that profession. A freelance mobile Makeup Artist won’t need the same coverage as a full-service beauty salon, or even a Makeup Artist that works in a salon. Just like you’d select a foundation to perfectly match a client’s skin, we can help you select the coverage that best matches your business’ needs.
Who Needs Beauty Insurance?
- Barbers & Barber Shops
- Brow and Lash Technicians
- Cosmetologists/ Beauticians
- Hair Stylists
- Makeup Artists
- Nail Technicians
- Salon Owners
- Spa Owners
Beauty Professional Coverages
As we mentioned, the type and amount of insurance you’ll need will vary based on what services you offer, and where you’re providing them. Here are some important coverages to consider:
General Liability Insurance– Protects your business from another person or business’ claim of bodily and personal injury, damage to other’s property, and medical costs.
This coverage is a must for any beauty professional. Whether you perform services for the skin, hair, or fingernails, there is the risk of harming a client’s body. Let’s say, as a Hairstylist, a client has a severe allergic reaction to the hair dye you used, which required them to seek medical treatment. If that client were to sue you for the damages and medical costs, the General Liability policy could protect you against these claims. Perhaps you’re an “on set” Makeup Artist whose heavy makeup kit hits and damages an expensive vase, this policy can respond to a claim from the property owner. In many instances, including wedding, performance, and other venues, you will be required to have this minimal coverage to work on their premises.
Professional Liability– Also known as Errors & Omissions Insurance, Professional Liability provides coverage for claims of negligence in the performance of your services.
As a licensed professional, there is an expectation from clientele that you are trained to provide a level of service that’s not the same as someone who does not hold beauty licensure. While licenses and certifications do not create an error-free scenario, you are held to a higher standard. It’s a good idea to have this coverage so if a mistake is made, and a client sues you for damages, medical costs, or the lost wages they incurred due to your error, you are covered.
Business Property – If you own a salon, either within a building you own or are leasing, you need to protect your business property. The investment you’ve made in tools, equipment, furniture, electronics, and possibly a building, could all be gone with one fire. Business Property Insurance provides protection against loss, damage, or theft for the items you own or lease.
Worker’s Compensation – If you’re at the stage in your business where you’ve hired employees, you definitely need to protect them from workplace injuries. Worker’s Comp will pay medical benefits, and even provide wage replacement if your employee is hurt, becomes sick or dies while working in the scope of their employment with you.
Commercial Auto – Many beauty professionals use a personal vehicle when traveling between clients or conducting other business-related errands. Commercial Auto provides coverage for those business-related trips that would not be available on a personal auto policy. It could only benefit your business to ensure your vehicle is covered as you make these essential commutes.
Business Owner Policies for Beauty Salons
Once you have a salon, there may be a better option for your beauty business than buying separate insurance policies. The Business Owner’s Policy, or BOP, is a policy that combines General Liability, Business Property, and Business Income with several other coverages, such as Professional Liability, Employee Dishonesty and many more. Packaging these policies together can provide a significant savings.
Getting insurance can seem like a costly investment. Spoiler Alert – It’s not! The amount you will pay for any of these policies is a fraction of what you would pay if you were sued by an unhappy client or lost your property and needed to replace it all. Again, not every coverage is needed for every stylist, nail tech, barber, make-up artist, esthetician, and salon owner. Working with one of our experienced Commercial Insurance Agents can help you find the right coverage for your business.
Give us a call today so we can help protect your business that cares for so many others!