Consumers spend a lot of money on hair and beauty supplies every year, and if you are the owner of a local hair salon you know that while there is plenty of room for growth and opportunity, there are also risks that come with it as well. Ensuring you are prepared for the unknown will save you from potential accidents, claims, and other unexpected hurdles that may leave you vulnerable to financial damages.
There are many things that can go wrong; whether it be a customer who isn’t satisfied and as a result files a claim, your client may have a skin or eye burn leaving your salon, or they may experience a rash/reaction to chemicals used in hair colour and other hair product. Like in any business, it could be something as simple as a customer fall if the floors are slippery. At the end of the day it doesn’t matter if an accident occurs or something goes wrong, you need to ensure your business is protected so that you are also looking after your finances and future livelihood.
At Will Marshall Insurance, we offer business insurance policies to many small businesses including hair salons. We will work with you to determine a policy that is appropriate for your particular needs, providing you with everything you need to remain protected from the unknown.
What insurance should you be considering for your hair salon?
General Liability Insurance
General business liability coverage is necessary should your hair salon be sued. This is the case whether you are at fault or not in relation to personal injury or property damage. This type of policy can be purchased individually or in combination with a general property insurance policy.
When you own a hair salon there is always the chance for theft, fire, or lightening damage to take place, as these are known risks among most shop owners. With adequate property insurance, coverage offers security from these threats. An open peril policy protects all sources of losses not excluded explicitly in the policy. Alternatively, named perils must be mentioned in the policy in an effort to supply coverage for a loss. A property insurance coverage policy can be customized to meet the unique requirements of your hair salon.
Workers Compensation Insurance
Workers compensation insurance looks after a hair salon’s employees should they have any illnesses or injuries while working under your business. It also supplies coverage for some rehabilitation, medical and lost wages costs. It may even supply coverage as a death benefit to inheritors of an employee who has passed away as a result of illness or injury that was related to their job role. Remember that as a salon owner, you are legally responsible to keep all staff safe while they are at work.
Of course even if you have every precaution in place and have taken all reasonable measures to protect your staff from harm, accidents still occur. Due to the fact that hairdressers and other salon employees are working with products containing chemicals and water, there’s also the chance that an employee could slip and fall or be burned from chemicals used in hair products or heated styling products. As a small hair salon owner you want to make sure you are fully protected from potential lawsuits that these unwanted accidents and occurrences can sometimes bring. This also includes coverage for compensation that employees are obligated to receive if such an accident means they can no longer work. A loss of income can be successfully covered through workers compensation.
Practicing a regular cleaning schedule is a great approach in limiting the chances of slip and falls. It’s also important to continue training employees on product safety and the dangers involved in misuse of such chemicals. Be sure you have security cameras in place as extra protection; this is an effective deterrent for employee theft.
Reach out to Will Marshall Insurance in Barrie or Orillia for more information.
Call our Barrie office at 705-726-2551 or our Orillia office at 705-326-5664.