What insurance do you need for your Beauty Salon in the UK?

hair and beauty

Being the owner of a beauty salon is no easy task. There are a lot of things you have to consider and one of the most important of them is to protect yourself and your finances.

The reason for this is that compensation claims are a dime a dozen and it doesn’t take a lot to have a lawsuit filed against a business. That is why buying the correct insurance plan is essential for a beauty salon owner such as you.

So what kind of insurance do you need? This article explains in detail.

Property insurance

Property insurance is integral because it can be said with certainty that you run your beauty salon from a particular piece of real estate. It may be just a room or it may be something more substantial.

Getting property insurance means that if your property gets damaged, lost or stolen, you have nothing to worry about because your insurance company is going to offer you financial protection. Your beauty salon must also have certain tools and equipment that are integral to your business and even those will be protected when you buy property insurance.

Employer’s liability insurance

Have you hired anyone at your beauty salon? If you are not running a solo business and have other employees, then you legally need to buy employer’s liability insurance. This will stand you in good stead if you were to be in a situation where an employee claimed compensation against you because the work caused him serious injury or illness. Such claims can go pretty high and if you didn’t buy this cover, you will have to pay up all the compensation as well as the legal expenses on your own. But with this buy, the insurance company is going to take care of it all.

Public liability insurance

This is essential insurance for any beauty salon owner who wishes to protect herself. Though it is not mandatory by law that you buy public liability insurance, it is still a very good idea to do so. Why? Well, if anyone were to claim compensation for injury or property damage, you could have to end up selling your business to pay compensation or deal with the legal expenses involved. But with public liability coverage, you have little to worry about because everything is taken care of by the insurance company including all the legal and ancillary expenses. Too many business owners face closure or financial ruin because of being hit by a public liability compensation claim when they were least expecting it. Don’t make the same mistake as so many others and instead get public liability insurance cover and protect your business.

Product liability insurance

As a beauty salon owner, do you sell or supply any beauty products to your customers? If the answer is yes, then you could be in trouble if the products you sell or supply were found to be defective. If that is the case and a customer claimed that something you sold or supplied caused property damage or personal injury, you could have to end up paying thousands of pounds in compensation. That is why getting products liability insurance is such a good idea for beauty salon owners.

Extensions you should add

There are some extensions you can add to your liability insurance plan to make it stronger. They are as follows:

  1. Financial loss extension: Ordinary public liability insurance does not cover compensation claims that cause financial losses. It provides coverage only when there has been injury or property damage. Getting this extension added will ensure that even purely financial losses get covered.

  Treatment risk extension

: Ordinary public liability insurance does not cover in case a compensation claim is made against you arising out of the professional activities you offer. This puts you at great risk and that is why buying this extension is important. So if there is a lawsuit emerging out of your professional activities or negligence, this cover is going to come in useful.

As a beauty salon owner, it is essential that you buy all the beauty salon insurance coverage you are going to need after proper research because that is what is going to protect you from unexpected losses.