Do You Need Beauty Business Insurance Before Opening a Salon?

By Darragh Timlin on July 16th, 2023

Launching a salon can be a dream come true, but what about the risks that come attached? Is beauty business insurance necessary before you even open the doors? These are pertinent questions that many prospective salon owners ask themselves. Along with the excitement of starting a new venture, comes the responsibility of ensuring its safety.

This blog post answers all your questions about pre-opening beauty business insurance. We’ll cover the reasons why such insurance is important, the types available, as well as legally required insurances for salons in the UK. You’ll understand the potential insurance risks for start-ups and how you can manage insurance premiums effectively. From tips on lowering insurance costs to FAQ about salon pre-opening insurance, this post will be your go-to guide. So, let’s get started and ensure that your dream venture is protected from day one.

1. Understanding The Importance Of Pre-Opening Beauty Business Insurance

Starting your salon without insurance in place could be likened to setting sail without a life jacket. Sure, everything might go smoothly, but if it doesn’t, you’ll wish you had that essential protection. Beauty business insurance aims to shield your salon from various risks that could potentially bring your venture to its knees. These risks range from property damage and theft to customer injury claims and much more. Having the right insurance cover in place before you open your salon is crucial to ensuring the smooth running and long-term success of your business.

2. Types Of Beauty Business Insurance Needed Before Opening A Salon

There are several types of insurance cover that you need to consider when planning to open a salon. These include public liability insurance, treatment risk insurance, employers’ liability insurance, business equipment and stock insurance, commercial property insurance, and income protection insurance.

In the UK, there are certain types of insurance that are legally required for salons. Public liability insurance is one such must-have for any salon. It covers you if a customer or member of the public suffers an injury or property damage because of your business. For example, if a customer slips on a wet floor in your salon and injures themselves, public liability insurance would cover the legal and compensation costs.

Employers’ liability insurance is also a legal requirement if you have employees. It covers potential claims from employees who may suffer injury or illness as a result of their work for you. This could range from physical injuries to stress and depression.

3. Evaluating Risks: Beyond Legally Required Coverage

Every business venture comes with its own set of risks, and salon start-ups are no exception. As a salon owner, you’ll be working with clients directly, handling their personal needs and using products and equipment that could potentially cause harm. There’s also the risk of property damage and theft, as well as legal issues such as employee disputes. Evaluating these risks and ensuring you have the right insurance cover beyond that which is legally required is therefore crucial.

Treatment Risk Insurance

Treatment risk insurance, for example, protects you against claims arising from the treatments you provide. Say a client has a severe allergic reaction to a hair dye or a facial treatment; this specific insurance would cover the legal and compensation costs.

Equipment and Stock Insurance

Your salon’s tools, equipment, and stock are key to your business’s operation. What if they were stolen or damaged? Business equipment and stock insurance cover can help to replace these vital assets, ensuring that your salon remains operational.

Business Interruption Insurance

Business interruption insurance provides financial support for your salon in the event of unforeseen closures due to circumstances beyond your control. This policy covers loss of income and additional expenses incurred during the closure, allowing you to focus on getting your salon up and running again without financial strain.

Choose Salon Saver

Insurance is the safety net that allows businesses to take risks and innovate. It’s what allows us to push past our comfort zones, secure in the knowledge that we’re protected if things go awry. Salon Saver is the next evolution of beauty salon insurance. Our insurance policies are strictly no-fuss. They may lack the bells and whistles of other insurance plans, but they offer all the core covers that you need to keep your business safe. Our objective is simple; to bring low-cost core protection to those businesses that know what they need and don’t want to pay for more than they have to. So, before you open your salon, ensure you have the right insurance policies in place to protect your business, your employees, and your customers.

Darragh Timlin

With over 25 years’ experience, Darragh is an expert in all things insurance. Starting his career in commercial property underwriting, Darragh has worked for a number of global insurers and is now Managing Director of Salon Saver, part of the wider Henry Seymour Group.

All articles by Darragh Timlin

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