3 Types of Insurance You Need to Protect Your Hair Salon

Compared to career fields like construction and driving, styling hair may seem like a relatively low-risk job. As such, many hair salon owners make the mistake of thinking insurance policies are an unnecessary extra expense.  However, insurance is what may save you from potentially business-breaking expenses in the future.  After all, it only takes one mishap to land you in a costly lawsuit.

There are numerous insurance policies out there to protect small to medium businesses across all industries. With so many options, it can be hard to work out which types of insurance you really need.  If you're wondering how to financially protect your hair salon, here's a simple rundown of three insurance policies you should consider.

1. Public Liability insurance

No matter how cautious you are, accidents can still happen - and even a minor accident can be very costly if it ends in a lawsuit.

Imagine for example, that you accidentally spill some water on the ground while washing a customer's hair.  Even if you put a wet floor sign in a visible area, a customer can still take you to court if they slip on the puddle.  A small slip can cause big injuries, and big injuries lead to big compensation demands most salon owners can't pay out of pocket.

That's why Public Liability insurance is a must for hair salons.  Public Liability insurance provides cover in the event that your business causes harm to a member of the general public.  If a customer, or even a bystander becomes injured at your salon, Public Liability insurance will cover court case expenses and compensation payments to the victim.

Similarly, Public Liability also protects you if a customer's property accidentally gets damaged on your premises.

2. Professional Indemnity insurance

As qualified hairstylists, you and your staff are trusted to deliver the best treatment and advice to clients.  Of course, stylists are only human, and everyone makes mistakes from time to time no matter how knowledgeable they are.

Sometimes, these mistakes can cause a big financial hit.  Imagine, for example, that a hair dye job goes wrong and causes serious damage to a customer's hair, or that a hair product you recommend causes an allergic reaction.  In cases like these, your customer may need expensive medical or cosmetic treatment to fix the problem.  If you can't reimburse them, you'll soon find yourself with terrible word of mouth reviews and possible litigation on your hands.

With Professional Indemnity insurance, you don't have to worry about mishaps like these.  Professional Indemnity insurance will cover you against a range of problems that arise from mistakes in professional service, from injuries caused by your salon equipment to well-meaning advice gone wrong.

3. Tools of the Trade insurance

Even the most experienced hairstylist is nothing without their tools.  From high-quality shears to modern blow dryers and curling irons, tools of the hair trade can be very expensive, and stylists can't do their job without them.

That's why it's important to ask yourself what you'd do if you ever lost access to your tools.  Whilst you may think most thieves have their eye on high-ticket businesses like jewellery shops and tech outlets, many of today's burglars know the true value of hairdressing tools and won't hesitate to steal them.  Likewise, tools can easily get damaged in floods or fires.

If your hairdressing equipment ever gets lost, damaged, or stolen, Tools of the Trade insurance will reimburse you for their 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.

For more information about insuring your business, contact   Westralian Insurance .