As a hair technician you have probably dreamed of owning your own salon for a long time. It is likely something that you have worked hard to achieve. Most hair salons are small businesses that employ just a few people. You are doing what you love so it may not feel like a business. However, you are running a company that you need to protect in case anything goes wrong. Insurance for hair salons is the best way to protect your business.
Do I Need an Insurance Policy?
Because your business isn’t large you may wonder whether you need insurance at all. In fact, insurance for hair salons is a must. You need to make sure that you are protected in case a claim is filed against your company. A lawsuit could put you in financial ruin if you don’t have insurance in place to protect your business.
Anyone who owns a hair salon, nail salon, day spa or barber shop should have comprehensive insurance in place. Insurance will protect you should the need arise. There are several different types of insurance policies that you may want to consider.
Liability insurance protects your business if someone is hurt on your premises or when someone’s property is damaged. If a customer falls and gets hurt in your beauty salon you will be protected if you have liability insurance in place. Liability insurance generally pays for the person’s medical bills and any settlement as well as legal defense coverage.
Property and premises insurance protects you from the costs associated with damages that may occur to the salon due to an accident. Your coverage will protect your business assets such as your barber chairs, styling tools, computers and fixtures as well as other things such as products that you have on hand.
If you have people working for you it is in your best interest to have workers’ compensation insurance in place. Workers’ compensation insurance provides benefits to workers if they are hurt while on the job. This type of insurance typically covers medical treatment and pays a portion of an employee’s wages while they recover from their injury. Without insurance, you could end up paying these expenses directly from your company.
Choosing Insurance for Hair Salons
Every business, especially those that work with the public, should have protection with insurance. The best insurance for hair salons is generally a comprehensive policy that includes protection against all of the most common occurrences in your industry.
It is best to review your specific insurance needs with an agent. Our professional team is here to help you choose the policies and coverage amounts that best meet your requirements as well as your budget. Do not operate without insurance or you could be risking your entire business if someone gets hurt.
Today’s society seems to encourage legal action whenever someone suffers an injury. You need the peace of mind and protection that an insurance policy provides. Contact us today to receive a quote for insurance to protect your business.