MedSpas often add new treatments as technology and client demand change. A service that wasn’t on your menu last year may now be one of your most popular options. But adding a treatment can also change your insurance needs. Before offering something new, make sure your policy reflects the services your business provides.
Does Your Policy Match the Services You Provide?
MediSpas may offer laser treatments, injectables, body contouring, skincare, and many other services. Each treatment type can bring its own risks. Marine Agency offers Laser and MediSpa Insurance for businesses ranging from solo laser operators to full-service MediSpas. Options can include professional liability, general liability, property insurance, and business interruption coverage. These types of insurance handle different risks. Professional liability applies to claims tied to professional services. General liability can address risks such as slip-and-fall accidents and product liability.
Marine Agency also offers many coverages on an individual basis. This gives MediSpa owners more flexibility, but it also makes it important to know exactly what’s included in the policy. Still, having MedSpa insurance doesn’t mean every service is automatically included. Your policy should match the treatments your business actually performs.
What Happens When You Add a New Treatment?
A new treatment may introduce risks that weren’t part of your business before. The FDA explains that aesthetic devices can have different risks based on how they work and how they are used. Lasers, body contouring equipment, and microneedling devices do not all present the same concerns. That’s why it’s smart to check your insurance before adding new equipment or services.
If your treatment menu has changed since your last review, talk with your insurance professional. It is better to answer coverage questions before you begin offering the service.
Are Your Off-Site Services Included?
Some MediSpas provide treatments away from their main location. Private events and Botox parties are common examples. Marine Agency can provide insurance for certain off-site services through its MediSpa program. If you plan to treat clients somewhere other than your usual location, make sure that activity is included in your policy. Don’t assume your existing insurance follows every service to every location.
Can Staffing Changes Affect Your Insurance?
Yes. A new employee or independent contractor may perform services that other members of your team don’t offer. Marine Agency’s MediSpa program can include independent contractors as insureds. Businesses with employees may also need workers compensation insurance for work-related injuries and illnesses. When you add staff or change job duties, review your policy to make sure it still reflects how your business operates.
When Should You Review Your MediSpa Insurance?
You do not need to wait until renewal time. Review your insurance when you add a treatment, buy new equipment, hire a provider, or begin working in a new location. It’s also worth checking your needs as the business grows. Marine Agency offers additional business insurance options for risks beyond professional services.
Call To Learn More
Your insurance should keep pace with your MediSpa. If your services or operations have changed, request a quote from Marine Agency or speak with the team about whether your current policy still fits your business.
