Types of Insurance Needed by a Hair Salon

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Hair salons, like any other business, need commercial insurance coverage to protect them from loss. There are many insurance companies that offer coverages particular to the hair salon industry.

stylist and customer in hair salon
stylist and customer in hair salon (Image: Anne-Louise Quarfoth/iStock/Getty Images)

Types

Property insurance will cover the building and its contents in the event of fire or other hazards. Also included in property insurance is coverage for lost income in the event of mechanical breakdown or if the building is uninhabitable and also spoilage of products. Business owners coverage will cover theft by employees from the cash register or from a bookkeeper pocketing revenues.

Liability insurance covers slip and falls. An additional type of liability insurance a hair salon would need includes professional liability. This covers damages claimed due to professional services performed--like burning a customer’s scalp from the improper mixing of hair chemicals. You may also want to purchase commercial auto insurance if you maintain and use a company car.

Workers compensation covers injuries to the employees while in the course of performing their duties.

hairdresser styling woman's hair
hairdresser styling woman's hair (Image: tyler olson/iStock/Getty Images)

Considerations

At insurancepoliciesonline.com, stipulations listed to qualify for their preferred rates include that the salon does not sell any private label hair products or offer tanning, hair transplants, tattooing, body piercing or electrolysis.

woman having hair washed in salon
woman having hair washed in salon (Image: Jacob Wackerhausen/iStock/Getty Images)

Benefits

Obtaining full coverage for your business will protect your company from large losses that may cause you to close your doors indefinitely.

woman getting a haircut in salon
woman getting a haircut in salon (Image: tyler olson/iStock/Getty Images)

Costs

The cost of your coverage depends on what coverages you choose, location, your credit history, size and type of the building and the number of employees on staff.

woman getting highlights in salon
woman getting highlights in salon (Image: Jacob Wackerhausen/iStock/Getty Images)

Risk Control

Following a good cleaning schedule can reduce your risk of slip and falls. Continual retraining of employees will limit your risk of improperly mixed or applied products. Security cameras are a great deterrent for employee theft also.

stylist cutting woman's hair in salon
stylist cutting woman's hair in salon (Image: LuminaStock/iStock/Getty Images)

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