What type of Insurance Is Necessary for a Beauty Salon?

It depends on a number of factors including whether or not you lease or own the building in which your beauty salon is located. Also what type of services do you provide? A typical beauty salon may offer only styling, cutting, coloring, hair trimming an application of “Perms.” Other beauty salons may also offer manicures, cosmetic consulting, massage, tanning and permanent hair removal. So depending upon the services you offer will dictate what insurance is best for your beauty salon.

Specific Insurance for Beauty Salons That May Be Purchased

• General Liability Insurance For Beauty Salons – Coverage for injuries or property damage to customers.
• Products Liability Insurance For Beauty Salons – If you sell products to customers this coverage is a must.
• Professional Liability Insurance for Beauty Salons – If you are held liable because of a bad haircut, perm, or the transmission of disease, or lice!
• Crime Coverage for Beauty Salons – Coverage that protects your business from a variety of criminal activity and may include employee theft.
• Inland Marine – This coverage provides off premises coverage for your beauty salon equipment.
• Group Health Insurance for Beauty Salons – Independent contractors would not be eligible for group health insurance, but employees of your beauty salon would be eligible. Offering group health insurance in Ohio to retain valuable personnel makes good business sense in most instances. Click here for more information about group health insurance in Cincinnati.
• Group Disability and Life Insurance – Group disability insurance and group life insurance in Cincinnati is employee benefit that can help you to retain key employees.

Call 513-662-7000 for the Best Rates on Beauty Salon Insurance in Ohio

Unfortunately there isn’t a universal “rule” that provides the mathematical calculation to determine your exact liability needs for car and home insurance.  The reason why this can’t be determined is because it is impossible to predict future claims you may become legally responsible for.  

Keep in mind that insurance companies will only pay up to the limit you choose. If that limit is not sufficient to cover the property damage or medical expenses of the other party, you will likely need to cover that shortfall out of pocket.

There are some commonsense rules that you should follow to protect your assets.  If you have gross assets of $1,000,000 and you buy car insurance limits that would only extend $25,000 of protection you have made a serious coverage purchasing mistake.

Likewise if you have ZERO financial assets with no prospects of relatives leaving you a bundle at their demise it might not make sense to invest in a $2 million liability insurance policy unless you are interested in protecting your future financial assets.

Making a purchasing decision on the amount of Liability Coverage to purchase is your decision, keep in mind that if you are found to be responsible for a large claims your financial assets could be up for grabs if you did not purchase sufficient insurance coverage. 

What are some common sense amounts of coverage that you should carry to protect you? 

Review the following outline to determine the minimum amount of liability coverage you should carry by clicking the link below:

How Much overage is Enough.