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- Why your salon needs insurance
When it comes to running a salon, there are various costs to consider, such as the equipment, treatments and cleaning products. But one area that is vital is your insurance cover. Having the right kind of insurance can be essential and it is important to know what type is appropriate for your business.
A salon is a business and so a lot of the standard coverage is applicable such as buildings and contents cover. In the event of theft or fire, these items could be expensive to replace. Aside from the tools needed in order to do the treatments, there can be all kinds of additional requirements such as POS tills, card readers, TV screens or coffee machines.
With any premises, liability cover is vital. The simple fact is if someone is injured on your property and you do not have it, then this can be massively expensive. Furthermore, there is the additional benefit that the insurer will handle the legal issues involved in any claim for compensation.
It is also important to have the right kind of liability cover- ideally this should handle both employees and customers, ensuring that you are covered in either instance. You can also get cover for products from third parties such as hair straighteners or hairspray so that you can pay for that (note that this may not extend to a model or photographer claiming loss of earnings due to use of said products.)
You can get an additional extension in order to deal with any cases where people complain about your treatment and how it might have affected them. If you do not have this specific cover extension there is the danger that additional compensation may be awarded, so it is best to check that you are prepared for this eventuality.
There are other optional forms of cover you may wish to consider. If you are working in a salon and you are self employed (some people rent rooms or particular chairs) then you may want to get personal accident insurance, and if you own the salon it is worth considering offering this to employees and to get it for yourself. This means that if you are injured or ill and are unable to work then this will allow you to continue to support yourself until you are able to make a full recovery.
Legal expenses insurance is another option to think about- having a specific fund available in the event of legal action will mean you will be able to get legal representation and can challenge claims if need be. Sometimes companies do not challenge claims because they fear they cannot afford these costs, and it can end up doing damage to the business’ reputation in the long term.
Making the right choice
When it comes to considering what form of protection is best for your salon, it is about looking at every aspect, from the premises itself to the needs of you, your employees and customers.
Naturally this can seem overwhelming and it is not always clear how much you need, with some companies not able to provide options that suit the specific factors that come with this particular industry. This is why it is vital to use an experienced provider like Crosby Insurance, who can go over the various options available to you, and tailor your cover to suit your business and prepare it for any eventuality. Don’t delay, talk to us today and we will be happy to discuss your requirements in more detail and find the best salon insurance that will work for you.