When things go wrong, it can be good to know that someone has your back. That’s why hairdressers, salon owners, and beauty professionals across Australia choose business insurance to protect themselves at work.
Here are three times when business insurance could help you manage common risks, so you won’t break the bank setting things right.
1. Treatments gone wrong
Clients come to you for your expert skills and advice. But a simple mistake could create a beauty disaster. If this happens, Professional Indemnity insurance can provide crucial protection for you and your salon. It covers you for losses claimed by a third party and defence costs due to alleged or actual negligence in your professional services or advice.
Here’s an example: While providing a bonding treatment, a hairdresser noticed immediate breakage in the client’s hair. They promptly washed out the treatment and applied additional treatments to minimise further damage. Unfortunately, these measures weren’t enough. The client’s hair continued to break, so they made a claim against the hairdresser.
The hairdresser’s Professional Indemnity policy ultimately covered $10,000 in damages to the client.
2. Accidental property damage
As a business owner, you may be responsible for accidental injuries and property damage that happen to your clients or other members of the public. Public Liability insurance can protect you wherever you are working—from your salon premises to inside a client’s home. These policies cover legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for injury or damage to their property as a result of your alleged negligent business activity.
Here’s what that looked like for one beauty pro: While providing wedding hair and makeup services in a client’s home, lip pencil shavings from the stylist’s kit accidentally fell on the floor. The shavings stained the rug and wouldn’t come out. The client made a claim to the stylist to replace the rug.
The stylist’s Public Liability policy paid $1,247 to replace the damaged rug.
3. Damage to your business property
Like many hairdressers, you probably keep extra supplies on hand for business use. You may also sell hair and beauty items in your salon. Contents insurance (an optional cover available through your Business Insurance Pack) may be useful if you need to replace them. It covers your business contents or stock if they are damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy.
Consider this example: A salon’s roof started leaking after a heavy storm, damaging the contents inside. The salon owner made a claim, and the insurer sent an insurance adjuster to assess the damage.
The adjuster determined that the recent storm damaged the stock, and the insurer paid $41,000 to replace the salon’s ruined contents.
Get covered for risks today!
Business insurance can help your salon manage scenarios like those above and so many more. And with BizCover, you could be protected in minutes.
BizCover has made buying insurance a no-dramas experience for over 8,500 salons and barbershops‡. Compare policies from a great range of trusted leading insurers and save today!
Visit www.bizcover.com.au to get started