Being a professional hair dresser can be a dream come true, and when you finally open your own salon, you may be excited about what lies ahead. To prevent legal and financial trouble that could derail your company, proper insurance is something to think carefully about. The pointers below can help you protect what you've worked hard for.
Purchase a General Policy
The most basic kind of commercial insurance policy is one that includes general liability. This type of insurance takes care of damages and injury that any customers suffer. For instance, you are likely to be covered if a customer is burned by a curling iron, slips near the sink or has their clothing ruined by hair dye. General liability will also serve you well if you enjoy styling hair at a customer's house. If hair dye stains counters or carpets, your insurance is likely to cover you for the costs of those damages.
Add Professional Liability
It also makes sense to pay a bit more to protect yourself from claims that cannot be proven by getting coverage for professional liability issues. For example, if an angry customer visits the salon saying that your perming chemicals caused her hair to fall out, they cannot prove that is true; however, you cannot prove that they are not being honest. In this case, having professional liability insurance would be a huge help, as you can rest assured that you've got some coverage to deal with the fallout of that situation.
Consider Coverage for the Building
When you're focusing so much on your salon business, you might not think much about the physical building you're in. Give serious thought to insuring the building so that if there is an electrical fire, break-in or other trouble, you can make the necessary repairs and replace any damaged or stolen equipment. If your salon is in an area that experiences extreme weather events regularly, you'll also need to take that into consideration and ensure that any policy you purchase has the necessary riders in place. You may need to buy flood insurance separately.
Contact State Board Periodically
As you'll remember, getting legally certified by the state to style hair took some time and effort. You don't want to do anything that would jeopardize your license. For that reason, it's wise to periodically contact the state cosmetology board for any updates or information regarding insurance requirements.
The pointers above can provide some guidance when thinking about insurance issues that pertain to your salon and career as a hair dresser. Speak with a specialist in commercial insurance, such as from Bennett Agency to feel confident that you, your business and your building have sufficient coverage.