What Kind of Insurance is Needed for a Salon?
Are you planning to start a hair or beauty salon? If so, then buying the correct insurance plan is essential to protect yourself from accidental damages.
If you are planning to work on your own, having salon insurance is not necessarily a legal requirement. However, as the nature of the job involves potentially dangerous razors, scissors, chemicals, etc., having some insurance protection should be integral to your plan.
Employers’ Liability Insurance
This insurance is legally required for any beauty salon that has employees. It can be very helpful in paying off legal expenses and potential compensation if one of your employees claims to have become ill or been injured while working for you. However, it is not mandatory if you run a solo business or if you only employ a close family member.
Public Liability Insurance
Having public liability insurance can protect your salon from any third-party claims of accidental damages like cuts, skin reactions, chemical burns, hot appliance injuries, etc. If you are selling beauty products, you can also include product liability compensation in your plan.
Whether you are working out of your home or a business property, property insurance provides financial protections for damages incurred to your property. Property insurance also tends to include protections for damaged or stolen equipment.
Business Contents Insurance
If you are renting an already-insured property, or you just want deeper cover for all your tools and products, you can opt for a business contents insurance policy.
Business Interruption Insurance
Business interruption insurance provides protection against any loss of income incurred by incidents beyond your control. It is an extra layer of protection to ensure your income.