If you run or own a hair salon, you know how important it is to have hair salon insurance. This is especially true for the owner. Insurance coverage can protect your business and your clients. Hair salon owners are often considered part-time employees. That means that they may not receive many days off and are usually limited in their number of hours.
Injuries at work are unavoidable and are rarely the fault of the salon itself. However, liability laws apply to businesses that employ people like hairstylists. Therefore, having professional liability insurance is a must for a hair salon operator. It’s never easy being a small business owner. Running a business and running it successfully means hours of dedication, hard work, creativity and great customer service.
While all of these things are important to the success of your business, customer service is often a highly valued asset that can’t be replaced. A hairdresser’s ability to provide excellent customer service is priceless and should never be overlooked by a small business owner or the hair salon owner himself. Professional hair salon insurance is available for barber shop insurance too.
In addition, beauty school insurance policies and health insurance plans are available for beauty school employees. Beauty school and barber shop employees may be covered by a general hairdresser’s policy or by separate beauty salon insurance plans. They may also be protected by a business owners policy. These policies typically include payment caps for total compensation and will exclude coverage for personal injuries.
Individual hair salons need insurance just like everyone else does. It doesn’t matter if you are working out of your home, renting an office building, a storefront, a salon or a B&B. Personal property is included in coverage and most policies include coverage for liability claims, theft, damage to customers’ hair or premises and lawsuits. There is even a form of hair salon insurance for hairstylists.
Hair salon insurance policies help protect stylists who are considered contractors. When a contractor becomes a subcontractor, this changes the status of that individual business from contractor to employee. Under these circumstances, the individual businesses property is no longer under the exclusive control of the contractor.
Instead, it is shared with the other businesses employing the individual contractors. This can have many negative implications for both hairstylists and their employers. For example, a stylist who loses an engagement ring from a customer on his way to the store could be forced to pay for the loss out of pocket. Employers must carefully consider whether a specific kind of coverage is needed.
Coverage amounts will vary depending on whether the business is an owned by an owner or a corporation. The best way to determine what kinds of benefits your business needs is to contact a professional agent who specializes in insuring businesses like yours. You should also take the time to research the different kinds of coverage that are available and evaluate the costs involved.
If you are not certain what coverage your salon needs, the professional agents can help you by providing you with a free quote. They can explain to you the different options, how the plans compare and which one is best suited for your particular situation. Hair salon business insurance policies can be purchased individually for the owner or for the entire salon. Individual polices are less expensive than group polices.
However, there are significant differences between the two. An individual BOP covers the business owner personally and the stylist, while a business insurance policy covers the entire salon business for one fixed premium.