Beauty Insurance: Beauty Business Insurance

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Whether you’re a beauty therapist or if you run a beauty salon, a spa or maybe you are a makeup artist or cosmetologist, the beauty industry allows us to transform people and how they feel about themselves. However, businesses in this industry, like many others, are leveraging business insurance policies protecting professionals and businesses against lawsuits and other unexpected financial expenses.

Over the course of this article, we’re going to explore all there is to know about beauty business insurance. We’ll look at the average cost of beauty insurance, the best companies in the field, as well as the various kinds of beauty industry insurance available to the many different businesses out there.

Beauty Liability Insurance

As with most other businesses, one of the most common and best insurance for beauty business is liability coverage. This will ensure that you don’t end up getting sued for bodily injury or property damage that people sustain when they’re at your place of business, such as if they were to slip on a wet floor.

There are both general and public variations of liability insurance, and they vary based on who they cover. For example, general liability coverage applies to anyone that enters your business, including employees and business partners, as well as the public, whereas public liability coverage applies to only members of the public.

Self Employed Beauty Insurance

If you’re looking for cheap beauty insurance quotes, you’ll rarely ever find anything cheaper than self-employed beauty insurance or freelance beauty insurance. Since self-employed workers operate alone and see relatively few clients per year and many times are mobile and don't have many risks involved, they tend to have some of the most affordable business insurance premiums. Starting from as little as $5/month.

Holistic Beauty Insurance

Holistic beauty treatment insurance is often also relatively affordable, however, it also depends on what you do with your clients. If you provide your customers with supplements, you may find that your insurance rates are higher because of the chances of them having an adverse reaction to the supplements.

Beauty Salon Insurance

Compared to freelance beauty insurance, beauty salon insurance is often a lot more expensive. This is because beauty salons tend to see far more people over the course of a month or a year, increasing the chances that you may have to file a claim with your insurer and increasing their risk.

Tanning Salon Insurance

Out of all forms of beauty and aesthetics insurance, tanning salon insurance tends to be more expensive because of the exposure to UV lights that your clients have to endure. This is due to the risk of skin cancer associated with UV exposure, which means that many insurers refuse to cover these businesses.

Barber Shop Insurance

Hair and beauty insurance quotes for barber shops tend to be a little bit higher than in other industries because of the sharp objects involved in most cases. While it’s rare that someone ends up getting injured at a barber shop, insurance companies will still charge a bit more for barber shop insurance.

Spa Insurance

Spa insurance is usually a little pricey because of the slick surfaces that are relatively common in spas. Many spas have trouble with customers and workers slipping and falling, which often leads to bodily injury suits. This means that insurance carriers don’t hesitate to charge a bit extra on their premiums.

Nail Salon Insurance

If you’re looking to pay monthly beauty insurance without breaking the bank, you may want to consider opening up a nail salon. Whether dealing with manicures or acrylic nails, insurance companies usually won’t charge too much for nail salon insurance if you operate such business.

Cosmetology Insurance

Cosmetology insurance is usually a little more expensive because of how much training the beauty professional performing the procedure needs. Because of the risk of an unqualified worker making a mistake, insurance companies charge slightly higher premiums for cosmetology coverage.

Esthetician Insurance

The same circumstances apply for esthetician insurance. Since estheticians need to be more qualified than in many other fields (in the eyes of insurance companies), their insurance premiums are usually higher. Thankfully, it’s usually only a difference of a couple dollars per month.

Bodywork Insurance

Bodywork insurance is also pretty pricey due to the hands-on nature of bodywork procedures, increasing the chances of someone filing a lawsuit or pressing charges. As we’ve established, a higher risk of a client getting charged or sued over their job means that insurance carriers will charge more for coverage, and this is the case for bodywork coverage.

Best Beauty Insurance Companies

We’re now going to take a look at some of the best beauty insurance companies out there. Picking out the right company will ensure that you get the best possible customer service and that you get quick responses to your claims. Some companies even offer specific coverage that will apply specifically to beauty businesses.

Hiscox Beauty Insurance

Hiscox has been in business since the beginning of the 20th century, and they began as a marine underwriter for Lloyd’s of London, one of the biggest insurance companies in the world. Since then, Hiscox has become a specialty underwriter, working in fields like beauty to provide tailored coverage to its clients.

Hiscox Policy Details

Hiscox offers general liability and professional liability coverage to beauty professionals and they pride themselves on offering their clients a wide range of flexible payment methods. They also have more responsive claims than many of their competitors and their coverage applies worldwide.

Pros: 

• Worldwide coverage

• Flexible payment

• Responsive to claims

Cons: 

• A little pricey

Average cost: $32 per month

Best for: Traveling beauty professionals

Progressive Beauty Insurance

Progressive is one of the largest providers of auto insurance in the United States, and the company has remained true to its name by always implementing cutting edge technology. They were one of the first carriers to fully transfer their operations to the internet.

Progressive Policy Details

Progressive offers coverage to beauty professionals through its Progressive Advantage Business Program, and they have both general liability and professional liability coverage available. Optional forms of insurance available to beauty professionals include BOPs and Workers’ comp policies.

Pros: 

• Affordable

• Range of coverage available

• Also offers BOPs

Cons: 

• Policies may be underwritten

Average cost: $29 per month

Best for: Business Owner Policies (BOP)