Life is full of unforeseen accidents. Whether it is a car crash totaling a vehicle, a tropical storm demolishing a home, or an accidental death in the hospital, insurance provides financial protection and peace of mind for unforeseen events. Businesses, such as salons, are no exception when it comes to the occurrence of accidents and the need for insurance. Salon owners need to have the right type of coverage to protect themselves.

General Liability Insurance 

General liability insurance coverage from Salon Saver covers accidents that happen in a business. If, for example, someone slips and falls, this insurance will cover their medical expenses, legal costs, and settlement costs. A salon owner is not required to have this type of insurance, but if someone sues the salon, the owner will have to cover the expenses on their own, and this could cost thousands of dollars in medical and legal bills. Even salons that operate out of homes should have this type of insurance, as homeowner insurance does not provide this protection.

Commercial Property Insurance

Commercial property insurance covers the property of the salon. This means that, in the case of physical destruction, such as a fire, theft, or storm, the physical building, as well as the contents in the building are covered. It will also cover exterior portions of the property including signs and fences. This type of coverage also compensates for the loss of income while an item is being replaced or repaired. For example, if tanning beds get ruined in an electrical storm, the insurance will compensate for the loss of income until they are fixed. Commercial property insurance does not cover flood or earthquake disasters. These must be purchased separately.

Cyber Insurance for Salons

Booking appointments, making payments, and even storing client data are often done online now. This is convenient for both the salon and the customer, but if the information is hacked, or breached, it can be a costly problem to fix. Cyber insurance will investigate the incident, restore a salon’s website and system, and will even help provide public relations to restore the name of the Salon. It can be incredibly helpful insurance to have in this digital age.

Employment Practices Liability Insurance

Employment Practices Liability Insurance (EPLI) protects a salon from employee-related lawsuits. Anytime a business employs people, there is the potential for an employee to become disgruntled or feel that they have been treated unfairly. This type of insurance compensates for employee-related claims, including legal fees and settlement. 

Professional Liability Insurance

Also called errors and omissions insurance, this protects salons from negligence claims. It protects from claims of things that you did or did not do that was harmful to the client. Some examples are a client having an allergic reaction to hair coloring, a client losing hair due to overprocessing, or a client claiming pain after a massage.

Worker’s Compensation Insurance

This insurance is required by most states. This insurance protects employees when they are injured or become ill while working. It will pay for medical bills and legal fees associated with the claims made by the employee. 

Without insurance, a salon owner is liable personally for anything that might go wrong daily in their salon. Insurance not only provides financial protection but gives salon owner peace of mind to focus on their daily work. 

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