Running a beauty business business, be it a tanning salon , spa , makeup business , bodywork , nail salon, or a cosmetology business , is hard enough when you don’t have to worry about a single mistake sinking your business. Insurance lets you make sure that you don’t end up in an untenable position because of a lawsuit, but buying business insurance, and particularlybeauty salon business insurance or beautician liability insurance is usually a challenge if you don’t have the knowledge or experience shopping around for it.
To make things easier on you, we’ve gone ahead and done all of the research about buying beauty salon and beautician insurance. We’ll discuss the various forms of beauty professional insurance that are available, explore the average beauty salon insurance cost, and give you the lowdown on the various forms of beauty shop insurance that are available.
Also read:Cosmetology Insurance & Cosmetologist Liability Insurance
Liability insurance is the most common form of beauty professional insurance because it protects you from the kinds of lawsuits that are known to destroy businesses. Liability insurance typically applies to things that occur on your business premises, which fits beauty salons well since customers need to come to you in person.
Beauty salon liability insurance kicks in when you have a lawsuit related to bodily injury or property damage. For example, if someone ends up having their clothing or shoes ruined at your salon by a burst pipe, then you’ll be covered for the cost of their clothes that were ruined because that counts as property damage.
As for bodily injury, that coverage kicks in when someone gets accidentally injured at your business. A simple fall could lead to one of your clients having expensive medical bills to deal with, and if they come after you for those medical bills, your insurance policy will pay out on your behalf.
Keep in mind that there are different kinds of liability insurance available for beauty salons and shops, including general liability coverage and public liability insurance for beauty salons and beauticians. General liability insurance will apply to anyone on the premises of the business, including the employees, vendors and the owner, in addition to the customers.
Public liability insurance for beauty salon and beauticians is a slightly more affordable form of liability insurance for beauticians that is available for beauty salons because it is limited to the individuals that are covered by the policy. Whereas general liability insurance applies to everyone at your business, public liability insurance for beauty professionals only applies to members of the public that get in touch with your business.
Members of the public include your customers and third parties who come to your beauty shop, including employees of other businesses who come to help you restock. While public liability is more limited, members of the public are the most likely ones to file a lawsuit against you, meaning that it offers good value for money.
However, for bigger businesses with employees, multiple business owners, vendors and customers that frequently get in touch with your beauty salon and visit it, we recommend general liability insurance beauty salons and beauticians as it provides you with a broader coverage from a larger spectrum of risks.
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It’s hard to estimate how much does beauty salon insurance cost because there are a lot of factors that can influence your premiums. The average beauty salon insurance cost is about $32 per month or $384 per year for a $1 million general liability insurance policy.
The main thing to consider is the size of your operation because that will directly influence how much of a risk the insurance company is taking.
Larger salons will have more customers coming through their doors, meaning that there’s a higher chance of the business ending up on the receiving end of a lawsuit if something goes wrong. You’ll also want to account for your business’s history. If your salon has a history of people getting hurt on site, you can expect to pay a lot more for coverage.
To make sure that we can give you a good baseline of how much you can expect to pay for beauty salon insurance, we’ve gathered the following beauty salon insurance quotes based on a salon of moderate size that has no black marks on their history.
Company | Cost per month | Cost per year | Best for |
---|---|---|---|
Allstate | $42 | $504 | BOP |
The Hartford | $34 | $408 | Overall |
Progressive | $30 | $360 | #2 overall |
Next | $30 | $360 | Quickest Liability |
Hiscox | $29 | $348 | Home-based salons & multipolicy |
Thimble | $28 | $330 | On-Demand policies |
Coverwallet | $23 | $276 | Quote comparison |
Beauty & Bodywork | $8 | $96 | Cheapest rates |
Home beauty salons are typically a lot more affordable to ensure than larger operations because home salons typically don’t have many employees, if any. This reduces the cost of insurance because the carrier is taking a smaller risk when you have a smaller operation. However, there are a few specifics to consider if you’re trying to get home beauty salon insurance.
One thing to consider is that your homeowners insurance policy likely won’t cover you during your business hours. The minute you start using your home for a commercial purpose, it is excluded from the vast majority of homeowners policies, so you’ll need to get separate commercial coverage on your own.
Finding beauty salon insurance quotes is a lot easier when you know which company you’d like to work with. There are a few carriers that are more qualified when it comes to dealing with beauty shop insurance. We’re going to take a look at these companies, the specifics of their policies, and the average premiums you’ll pay for a $1 million general liability insurance.
Even though Progressive is known for its auto insurance, this company also dabbles in other forms of coverage, including beauty salon insurance. Progressive has been in business since 1937, has since expanded into Australia, and the company is based in Mayfield Village, Ohio.
Progressive Policy Details
Progressive offers a few different kinds of beauty salon business insurance, including general liability and professional liability coverage (also known as E&O insurance). They also offer BOPs and workers’ comp policies for beauty salons through their Progressive Advantage Business Program
Pros:
Easy online quote process
Offers both general and professional liability
BOPs and workers’ comp also available
Cons:
Not fulfilled directly by Progressive
Average cost: $30 per month
Best for: E&O coverage and #2 overall
The Hartford is short for The Hartford Financial Services Group, Inc. , and as you’d expect from the company’s name, their HQ is in Hartford, CT. This company has been in business since 1810, and they’ve managed to make it through some of the most devastating events in American peacetime history.
The Hartford Policy Details
The Hartford offers a wide range of insurance policies for beauty salons, including general liability coverage, professional liability insurance, commercial auto coverage, equipment breakdown, and more. The Hartford’s BOPs combine general liability coverage, commercial property insurance, and business income coverage.
Pros:
BOP offers good value for money
Covers home-based salons
Cons:
Expensive
Average cost: $34 per month
Best for: Overall
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John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children, and now have to get legal and BBB involved for a company to do the RIGHT thing. Scott Lewis, Kevin Ware, Heather White, and Ryan P, lied about communcation on my claim, demonstrated Bias by overpromising and under delivering . They refused to pay the full amount owed and have associates untrained in vehicle condition assessment and reconditioning. Also, not one GUARD insurance representative has contacted my wife (the injured party) in 4 months to follow up on medical treatment. STAY AWAY IF YOU ARE SHOPPING INSURANCE!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
Had general liability and workers comp with amguard. Paid high premiums and yet still got audited every year and had to pay more. Was able to prove less risk the first two audits and disputed price down but none the less had to pay more just so I could renew coverage. Third time the audit ( based on what I paid my premium on ) was ridiculous and tried to prove that there was no increase in risk from what I paid for my premium. However they would not believe it and required I paid full audit amount in order to have redline removed. Basically you do what they say and pay whatever outlandish bill they come up with or they will make sure you can’t run your business anymore. ????
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!