…Here’s Why You Need to Get Business Insurance Sorted Now!
According to a recent survey by BABTAC, around one in four beauticians in the UK are operating without hair and beauty insurance.
This leaves them vulnerable to financial ruin should they be sued for compensation by a client if something goes wrong.
While hair stylists and beauty therapists working directly for salons are likely to be covered under their employer’s policy, independent mobile beauticians and hairdressers are responsible for arranging their own insurance.
Why are so many small business owners in this industry taking such risks by not being insured?
Looking at the statistics from BABTAC’s research, 26% of beauticians admitted to not being covered. But a further 15% weren’t sure either way.
There was also a concern that some salon owners were blissfully unaware that they were uninsured as a result of their policy having expired or not being adequately updated as changes and new treatments were introduced.
So if you run a mobile beauty business or own a salon and suspect you’re either uninsured or under-insured, here’s an insurance checklist outlining the essential types of cover that should be included in your policy…
Whether you have your own premises or visit clients’ homes to carry out treatments, public liability insurance for hair and beauty therapists forms the cornerstone of your protection.
This covers you should a customer decide to sue for compensation after being injured or becoming ill.
They could slip on a puddle of water in your salon and incur a life-changing back injury. A client’s scalp could be scolded by overheated water or styling tools.
A new treatment could go terribly wrong leaving a client suffering a chemical injury or allergic reaction.
When it comes to the what-ifs in this line of work, the potential risks are endless.
Bear in mind that certain treatments with specific risk factors will need to be covered by specialised insurance add-ons.
Do you employ anybody? If you have one of more members of staff, even if they only work a small amount of hours, you’re required by law to have employers’ liability cover included in your hair and beauty insurance.
This covers the legal costs of dealing with compensation claims from employees who are injured or become ill as a result of their work.
If you’re an employer operating a salon or mobile beauty business without this type of protection, you’re breaking the law and would face a fine or prosecution if caught out.
All of the fixtures, fittings and stock held in your salon should to be covered with business contents insurance.
This way, if anything is stolen or damaged, the insurance would cover the cost of fixing or replacing items. The property of your employees and clients is also covered under this insurance.
This protection can be further extended with tools and equipment insurance that covers your essential tools of the trade should they be lost, stolen or broken. Any cash held on site needs to be protected with a business money add-on.
If you’re injured and can’t work, this could leave your livelihood in jeopardy. Personal accident cover ensures you’ve got money to get by on while you’re unable to carry out your job.
For further peace of mind, your policy can be extended with business interruption insurance to cover any trade losses suffered as you focus on your recovery.
Don’t risk your business and livelihood by not being insured.
Get fully protected with bespoke hair and beauty insurance from The Insurance Octopus that’s tailored to your needs.