Insurance for Hair & Beauty Services
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Why do Hair & Beauty Services need Insurance?
Business insurance is there to provide protection for a variety of different beauty businesses. From nail salons to mobile make-up artists, the types of claims you may potentially face include anything from a third party injuring themselves on your business premises to the theft or damage of invaluable tools of trade.
Whilst you’re busy keeping heads turning, BizCover partners with some of Australia’s leading insurers to offer you business insurance, a cut above the rest. With just a few clicks or a phone call, you’ll get multiple competitive quotes. Select your preferred policy and you’ll be covered instantly, so you can get back to doing what you love.
These are few examples of how business insurance can help to protect your beauty business:
- Claims from unhappy clients for the professional services or advice you may have provided. E.g., a haircut gone wrong, a beauty product causing them to have a reaction^
- Protection for accidental injuries or property damage caused by your business activities to a third party
- It may also be a requirement to have certain kinds of business insurance in place as part of your rental agreement e.g., Public Liability or Glass cover.
- To become a member of certain professional memberships you may need a certain level of Professional Indemnity insurance in place to join
Did you Know?
Laser hair removal is a standard insurance exclusion. That means if you are performing laser hair removal, you will typically have to apply to have this activity specifically covered by your insurance.
What insurances* do beauty professionals need to consider?
Let’s take a quick look at some of the insurances you may need in your business insurance kit!
Professional Indemnity Insurance*
Coverage for claims resulting from your professional advice or services, for example negligence. Your associated legal defence costs could also be covered.
Your goal is to make your clients look and feel great – from treatments and advice, to creating a whole new look and style, they expect the very best. Sometimes things can go wrong, which can be an emotional and traumatic time. A compensation claim against you could be very costly to your business, not to mention damage your reputation.
Professional Indemnity insurance is designed to protect your business from losses claims made against you arising from actual or alleged negligence or omissions in the provision of your professional service or advice. Professional Indemnity Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by your policy.
Public Liability Insurance*
Protection against claims for injuries or damage suffered by third parties as a result of your beauty business activities.
Whether you work from your own salon or you provide a mobile service, you’re always in close contact with your clients, making Public Liability insurance an important cover for hairdressers and beauty therapists.
Public Liability insurance is designed to provide protection for you and your hair and beauty business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.
Slips, trips, mishaps caused by chemicals, hot wax, scissors, razors, electrical equipment – these all mean your business accidents. Fortunately, this is where Public Liability insurance can provide peace of mind and protection for your business.
A variety of insurance coverages to cover things that matter to your beauty business like your contents, building and portable equipment.
Your customers are important, but so is stock, your equipment, salon contents and you’re your commercial premises.
Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to a business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.
- Contents – Covers you for damage to your contents, stock and due to fire and other perils listed within the policy wording.
- Portable Equipment – Covers you for loss and damage to your tools and stock due to theft, fire and other perils listed in the wording.
- Building – Covers your building if it is damaged as a result of a fire, storm, malicious activity or another defined event listed in the policy.
- Glass – Cover for the damage to the glass, both internal and external, and signage at the insured business location.
- Business Interruption – Covers your building if it is damaged as a result of a fire, storm, malicious activity or another defined event listed in the policy.
- Tax Audit – Covers accountant’s costs incurred in responding to an audit or investigation by the ATO.
What kind of hair and beauty businesses may need insurance?
This is a snapshot of some of the kinds of hair and beauty businesses that need to think about business insurance:
- Make-up artists
- Nail salons
- Mobile beauty technicians
A treatment gone wrong
An experienced laser therapist performed IPL laser treatment on a regular client to remove pigmentation on her face. Despite carrying out a patch test prior to the treatment with no side effects, the client ended up suffering a severe reaction which left burns and scarring to her forehead. Unfortunately, the client lodged a claim alleging the therapist had been negligent in performing the IPL treatment, and it was determined that the client was unable to lead a normal life due to suffering severe psychological trauma as a result of the scarring. The matter was settled for a whopping $76,000, including defence costs, which was paid under the therapist’s Professional Indemnity policy.
3 things to ask yourself when buying insurance
- Does the policy cover all your areas of work? Some policies have restrictions and may not cover all your activities (if they are not standard). For example, in most cases piercings, tattoo removal and Botox injections will not be covered.
- What kinds of risks does my salon present? Does your landlord require you to have a particular level of Public Liability?
- How much would it cost to replace your stock, contents and salon equipment if it was lost, damaged or stolen?
Frequently Asked Questions
The beauty industry is broad and includes businesses like beauty salons and hairdressers. Each has its own unique features and exposures to risks, so there isn’t a one-size fits all kind of policy.
The cost of your policy will depend on a variety of factors like the type of business, your annual turnover, number of staff, level and type of cover.
To receive an accurate idea of how much business insurance will cost for your hair and beauty business click here to get a quote or have a chat to our friendly team.
If you have clients visiting your home-based salon for example, Public Liability insurance is something worth considering. If a customer were to injure themselves on your property you could be faced with a potential claim.
Remember your business assets are different from your personal contents so you may need to consider taking a separate business insurance policy for your contents.
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Hair & Beauty Services
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Hair & Beauty Services
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^The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.
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