Does your Beauty Salon have the right Insurance Cover?

We know life is busy in the beauty sector and sometimes it's difficult to keep up with everything around you. However, having the right level of insurance cover that suits your business and your particular circumstances, can make or break it. 

Public Liability Insurance (*)

Imagine you accidently spilled some water or any liquid solution on the floor while doing your beauty procedure and then a client slips on it and suffers an injury as a result (even if you were cautious enough to put a wet floor sign out!)

That's when you want to have "Public Liability Insurance" in place. This insurance protects your professional beauty business in the event a client (or any third party) is injured or sustains property damage as a result of your negligence.

Professional Indemnity Insurance (*)

You might be a confident and experienced beauty professional, however we are all humans and sometimes make mistakes and accidents happen. Imagine a client of yours has some serious bad reaction to a product you recommended and needs urgent medical attention (those bills!). You knew this product inside out but still things out of your control can happen.

Don't panic though, the "Professional Indemnity Insurance" is there to protect your business from claims made against you arising from actual or alleged negligence or omission in the provision of your professional service or advice. It will assist with legal costs associated with responding to or managing claims.

Tools of the Trade Insurance (*)

If your beauty salon equipment ever gets lost, damaged, or stolen, "Tools of the Trade" insurance will reimburse you for the cost. This payout will help you replace your tools as soon as possible, so you don't need to eat into your income or turn down customers whilst you save up for new equipment. As you can see, this type of insurance is not only for tradies!

Business Insurance (*)

This insurance is designed to provide you protection against your own business content, stock, tools, portable equipment and commercial premises (e.g. fire, floods, storm, theft, etc). 

(*) Important Disclaimer: Please note that this information is to be taken as a GUIDE ONLY for raising awareness and education purposes. It is not indented to provide formal advice and you should seek professional and experienced advice as appropriate. Always seek professional advice.

If you like this blog article, leave us a comment below and share it with your colleagues!

With Love, Ari xx

Source:

• Professional Beauty Magazine. Article "Is your Business Insurance Australian Made? BizCover.

• Luna Beauty Supplies