Public Liability Insurance
Slips and falls, chemical hazards, accidental spills, scissor cuts—these are common incidents that can happen when you are in close contact with your clients. And most of these unlikely events can sustain injury or property damage.
This business insurance provides legal and medical coverage for mishaps that happen to your client, supplier, or any member of the public if they suffer injury or property damage as a result of your hair salon activities.
Professional Liability Insurance
Your clients go to you for professional advice, but like all people, you can make mistakes too. If your client files a claim against incorrect advice or dissatisfied service, it can hurt your business financially.
Professional Indemnity Insurance protects your business from costs associated with the legal action because of negligence or allegations of unsatisfactory quality service.
General Property and Stock Insurance
This type of business insurance covers damage or loss of contents in your beauty salon, as well as to your tools of the trade, such as hairdressing equipment and hair products you keep in stock.
Typically, this insurance covers accidental damage to the equipment you use, theft, or other perils such as flood or fire. You can also use this insurance to cover the replacement of stocks in case of theft, damage, or loss whilst in transit.
Business Interruption Cover
To protect your business against loss of income, consider adding business interruption as an insurance policy. This insurance cover is helpful in events when you’re unable to operate because of flood, fire, theft, or accidental damage that forces you to close up for some time.
Your employees are also at risk for work-related injury and illness whilst performing their services. This can range from accidents due to hair chemicals or stress injuries such as carpal tunnel from cutting hair.
You need to prepare a worker’s compensation insurance to help cover wage replacements and medical bills.