A Stylist’s Guide to Business Insurance

What is business insurance?

Business insurance helps protect a stylist’s business finances and assets. When things go wrong, different types of insurance can help you pay unexpected expenses, like repairing equipment, replacing stock, or covering legal costs.

What types of business insurance do stylists buy?

Every stylist is different, and so are their insurance needs. Here are a few policy options that stylists and beauty professionals often choose:

Public Liability* covers you if a third-party claim that your negligent business activities caused them injury or property damage. This includes defence costs cover. A policy may be required to lease commercial space or sign a rent-a-chair agreement.

Professional Indemnity* covers you for losses claimed by a third party and defence costs due to alleged or actual negligence in your professional services or advice. This cover could help you manage allegations or lawsuits from hard-to-please clients.

Business Insurance Package* 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). Stylists often add Glass*, Contents*, Theft*, and Business Interruption* covers to their packages.

Cyber Liability* covers losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach. If you use an online booking system, accept EFTPOS payments, or store client data (including payment details), you might want to consider getting this type of policy. Personal Accident & Illness provides a weekly income benefit following an accidental injury or illness once signed off from work by a medical practitioner for a set amount of time. Imagine you break an arm and are unable to work until it’s healed. This cover could help you keep paying the bills until you’re ready to return to work.

How long does it take to buy insurance?

For many stylists, buying insurance ends up in the “too hard bucket”. Who has time to Google insurers, wait for quotes, and compare policies? You’ve got a business to run and only so many hours in the day to get things done.

Enter BizCover—Australia’s number one small business insurance service. They’ve made it simple for on-the-go stylists to compare quotes and get covered online in minutes.

There’s no paperwork and no waiting. Just no dramas cover from selected leading Australian insurers!

For on the go cover, go BizCover or call 1300 805 821.

This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the PDS or policy wording.

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