Owning a hair salon means that you get to be the best part of your customer’s day, every day. But accidents can happen without a moment’s notice, even in the beauty industry. Whether one of your customers slips and falls on their way to get their hair washed or they complain of an allergic reaction, protecting your customers, staff and business with the right level of insurance protection is an important aspect of being a successful hair salon owner.
While you may be lucky enough to have the most faithful customers around and a highly trained staff that always follows directions, accidents in and around your hair salon are bound to happen. Protect your business with a comprehensive hair salon insurance policy from Marine Agency Insurance to give yourself and your customers peace of mind.
In the US today, there are more than 86,000 hair salons, including about 4,000 barber shops. In the year 2012, this amounted to a total revenue of $20 billion. But not surprisingly, the majority of hair salons across the country are small businesses, with the top 50 larger chains only making up 15% of the industry. With so much money, time, and energy being spent on visits to the hair salon, it only makes sense that owners should protect their small business with the right level of insurance to fit their needs and budget.
Small businesses like hair salons are much more vulnerable to financial losses due to liability claims, natural disasters, theft and other common incidents.
Whether you own a straightforward hair salon, a day spa and salon, a nail salon or you provide any combination of beauty salon services, there are a few different types of coverage you should consider.
Salon liability insurance provides financial protection for your business in a variety of scenarios where a customer may incur bodily injury or property damage at your salon and then sues. For example, if a customer slips and falls in the salon, liability coverage pays for any medical bills, your legal defense and any settlement you may owe.
Whether you lease or own your building, property and casualty insurance coverage will cover damage to the salon in the event of an accident. Additionally, this type of coverage also protects everything inside of the building that you use for the business including computers, chairs, counters, styling equipment and product.
If you have employees working at your salon, you’ll need workers compensation insurance coverage to protect against potential financial loss due to injuries sustained on-the-job or illness. This coverage covers employees medical bills, lost wages and any rehabilitation expenses.
Other liability considerations for salon owners include hiring independent beauty contractors, selling beauty products and protection against drain and sewer backups. Whether you are working on establishing your first salon or you’re thinking of expanding your empire, you need the right hair salon insurance policy to protect your investment.
When searching for the right hair salon insurance policy to fit your needs, reference these key takeaways:
Ready to find the best hair salon insurance policy to protect your small business? Call 800-763-4775 or visit the team at Marine Agency Insurance online today! Find out why we’ve been the leader in hair salon insurance since 1975.
422 US Hwy 22 W, Unit 7
Whitehouse Station NJ 08889
Toll-Free: 84-INSURE-NJ (844-678-7365)
9 AM - 5 PM , Monday - Thursday;
9 AM - 4 PM, Friday
PO Box 125
Whitehouse Station NJ 08889
Toll-Free: 800-35-MARINE (800-356-2746)