If you are a self-employed barber, then you will face the same daily risks as any other independent business, such as a clothes shop or florist. This is why it is so very important that as a self-employed barber you are fully insured with barbers insurance against any kind of loss. Below, we share some common types of insurance that every self-employed barber needs to consider.
Public liability insurance
This type of insurance is intended to cover you should a compensation claim be made. The insurance will not only pay out the amount of compensation that has been awarded, but it will also pay out any expenses. Another huge benefit is that you can pass over all of the necessary paperwork to your insurance provider, who will sort out the claim for you, leaving you to run your business. Compensation claims can be incredibly expensive, so although public liability insurance is not a legal requirement, having it can save you a lot of money.
Treatment risk insurance
Because public liability insurance excludes claims arising from professional services, it means most of the claims you would make as a barber would be excluded if you only had this type of insurance. This is why specialised insurance policies for barbers will always include a treatment risk insurance extension which aims to bridge the gap in cover. This means that, should a client be injured during a haircut, your claim will still be covered, whereas without it, it wouldn’t be.
Legal expenses insurance
There are many types of legal claims that can be made against self-employed barbers, and you need to be aware of them. They include any disputes with neighbours, or housing next to your premises, as well as criminal charges and investigations regarding your tax and VAT. Your insurance provider can give you advice and help, while helping to steer you away from a hefty bill.
Personal accident insurance
Working as a self-employed barber comes with many benefits, but you will not be able to have sick pay. The odd day may not matter, but if you are injured or find yourself unfit to work for an extended period, then this becomes problematic. This is why taking out personal accident insurance is a great idea, as it protects you both in the short and long term. For short sick periods, you can be paid a weekly allowance, and if you are unable to return to work, you can receive a lump sum payment.