It can be an exciting time when you start your own business. There has been a huge increase in the number of people working self-employed, and one of the sectors that
One of those is Salon Insurance. But, what is Salon Insurance, why is it important and what does it entail? These are the questions we are going to answer in the following post.
What is Salon Insurance?
Salon Insurance is a term used to describe a financial and legal product that provides salon owners with suitable coverage when things go wrong. It is important because when things go wrong in a salon, they go really wrong and can be very expensive to rectify.
The type of risks and things that can go wrong are different from salon to salon and very much dependant on the services you offer. Some of the most common, however, include:
Injuries and accidents involving members of staff and clients/customers
- Allergic reactions
- Issues with dyes
- Theft or damages to equipment
- Slips or falls
- Faulty equipment
So now you know what it is and why you need it, what does salon insurance actually entail?
What Is Included in Salon Insurance?
When looking for a suitable salon insurance policy, you need to make sure that all relevant aspects of your business are covered. There are a variety of different insurance products that are offered, depending on the insurer you choose.
Important policies to look out for include:
Public Liability Cover – As your work involves working in close proximity to members of the public, each and every day; this is one of the most important components. Public liability insurance gives you cover not just for any accidental injury caused to a client, but their belongings too. This not only includes the legal costs you have to pay if they take you to court but the amount of compensation you are liable to pay if their claim is successful.
Contents Insurance – Another crucial piece of coverage for salon owners, whether you work from your own home or a high street shop, is contents insurance. This helps to provide cover against the loss of or damage to the expensive equipment used, as well as other items such as furniture. It means you won’t be at a loss if your business is broken into and your equipment is stolen, or equipment breaks down.
Other types of insurance coverage that you need to consider but will depend on the size and extent of your operations includes
Employees Liability insurance
Van or business vehicle insurance
Finding the Right Salon Insurance for You
We have noted a number of times throughout the post that there is no catch-all salon insurance solution that is suitable for all salon owners. This means it is crucial that you find the best one that provides you with the right amount of coverage for your business.
The Quote Radar can help you find the best salon insurance product that will meet your own specific needs.