How to Insure Your New Brunswick Hair Salon
Your clients love what you do for their hair. No matter how skilled you are as a hair stylist, though, there’s always the possibility that an accident or mishap will occur. You need hair stylist insurance coverage that protects you as a New Brunswick hair stylist.
A hair stylist insurance package protects hair stylists and their salons against risks that come with hairdressing services, including accidents and injuries related to treatments and equipment.
How will a hair salon insurance package protect my N.B. business?
It will protect you from the potential risks associated with your New Brunswick hair salon’s daily operations.
Without insurance as a New Brunswick hair salon owner, independent hair stylist, or mobile hairdresser, you would need to cover these costs out of your own pocket. Can you afford that kind of financial risk?
A hair salon insurance package can help protect you from these 3 common claims:
- A client at your New Brunswick hair salon slips and falls on a wet floor and fractures her wrist. Your salon is getting sued for bodily injury damages. Your commercial general liability insurance, also known as slip and fall insurance, can help cover the injured client’s medical treatment, your legal fees, and a court-ordered financial settlement.
- A client complains that the non-ammonia hair colour you used on her hair has given her an itchy scalp and her hair is coming out. Your errors and omissions insurance may cover any medical expenses and liability damages. You may also hear it called professional liability insurance.
- Your New Brunswick hair salon has had a break-in and thieves have stolen beauty supplies and ransacked the place. Your commercial property insurance may cover the cost to replace the stolen products and the necessary repairs to your salon.
As a New Brunswick hair salon owner, here’s an insurance check list:
- Do you have the best business insurance rate for your hair salon?
- Do you have the right amount for your deductible and regularly review it to make sure it’s the right amount for your business?
- Do you know the value of equipment at your salon and is it properly insured?
Have you thought about the consequences of your New Brunswick hair salon being forced to close down temporarily due to a flood or fire?
How much does a hair stylist insurance package cost?
It will depend on the size of your New Brunswick salon, how many employees you have, your location, any past claims, among other factors.
At Western, we can help you get the hair stylist/salon insurance you need at the right value for you.
What type of insurance is needed for a New Brunswick hair salon?
Professional liability insurance: It’s also called errors and omissions (E&O) insurance. Professional liability insurance coverage helps protect you and your employees from allegations of misconduct, negligence, or failure to deliver a service your hair salon provides as advertised. It’s designed to cover your legal fees and any financial judgments against you in court.
Commercial general liability (CGL) insurance: This type of insurance is also called “slip and fall” insurance. It protects you against day-to-day risks while running your business. CGL insurance can protect hair salon owners against claims of third-party bodily injury or property damage that occurs at your business. For example, if an injured client sues you for damages, it also helps cover your legal expenses and any financial settlement ordered by the court.
Your CGL policy also can help protect you from libel, slander, and false advertising allegations.
How much CGL insurance do I need?
It’s not uncommon that a hair salon would carry $2 million in CGL coverage, depending on its size and services.
Of note: A mobile hairdresser, who works in different New Brunswick salons, may want to ensure coverage under a separate hairdresser insurance policy. You may not be covered under the policy of the salon where you are working temporarily.
Product liability insurance: It protects you against claims alleging that a product used during a hair treatment or sold to a client caused bodily injury, such as hair failing out or a chemical burn. Damages ordinarily covered by product liability are usually the result of a design, manufacturing, or marketing defect, such as an incorrect label or a lack of safety warnings.
Commercial property insurance: Commercial property insurance protects your hairdressing business and its contents from insured risks that can happen, such as fire, theft, flood, or vandalism.
Business interruption insurance: If there is an insured loss at your N.B. hairdressing business that’s severe enough to prevent it from being open, the expenses associated with getting your business running again will be covered.
Business interruption insurance usually covers vandalism, fire, wind, flooding, and other risks (make sure to understand what your policy covers). Your policy will help compensate you for lost income and expenses that you will need to continue paying even while you are unable to work.
Cyber insurance: If your N.B. hair salon processes debit and credit card transactions, online or in person, you need cyber insurance because your system could be vulnerable to cyberthieves. You may also be liable for damages to third parties whose information has been stolen and you may have to pay for notification expenses to inform customers affected by a breach.
Commercial auto insurance: If you have a business car that you use for your New Brunswick hair salon business, it won’t be covered by your personal car insurance policy. You will need commercial coverage as part of your hairstylist insurance package.
Whether you are in Fredericton, Saint John, Moncton, Dieppe, or anywhere else in New Brunswick, Western Financial Group has licensed BUSINESS INSURANCE EXPERTS to get your hair salon the right insurance package that is customized to its needs.