Hairdressers’ Insurance: Is it a luxury or a real necessity?

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Numerous people think some hairdressers have a glamorous job because they work in luxurious salons, fancy resorts, or with famous models. However, most hairdressers and beauticians realise their jobs are far from being glamorous. The only thing they might think of as being a luxury is their insurance coverage. However, is hairdresser insurance really a luxury or a necessity for them to have?

There is much more to being a hairdresser than meets the eye. Numerous things can go wrong in the hairdressing business. For instance, a hairdresser could accidentally cut a customer while styling the individual’s hair. Another sample would be a customer having an allergic reaction to a product the hairdresser had used during a treatment. A freelance hairdresser, mobile hairdresser, or a salon can be completely financially destroyed even if just one little thing goes wrong. So in reality, hairdressers’ insurance is a necessity, not a luxury as some hairdressers believe it to be.

Types of cover a hairdresser should have

There are some types of cover especially designed for hairdressers. In all cases where you have hired another employee, you must have employers’ liability insurance. This cover is compulsory and can’t be avoided very easily. Even if employers’ liability wasn’t mandatory, you should have this protection in place. This coverage is for providing compensation for the injury, illness, or death of any employee or former employee who was harmed during their employment with you. It also cover the legal fees and other expenses that resulted due to the claims made by employees and former employees if they happen to sue you for the injuries, death, or property damages.

Other types of cover

Although all the other insurance cover are optional, there are more types you should have. These six insurance plans are:

o Public Liability: Used to protect you and your business against claims filed by members of the public in the case of injury, death, or property damage. This is not used for harm done to customers or employees.
o Professional Indemnity/liability: This is used to protect yourself and your business against claims filed by your customers for death, injuries, or property damages caused by treatments you or an employee performed. Also included in the cover is assistance with legal fees and other expenses due to lawsuits for errors or omissions, negligence, malicious falsehood, libel, and slander.
o Product Liability: As with the other types of liability, product liability is used to protect you and your business against claims filed by your customers or other third parties. It cover the damages, deaths, or injuries caused by the products you use.
o Business/Home Office/Equipment liability: Business/Home Office/Equipment liability protects you and your business against damage to premises used as a home office, theft of documents, damages or loss of equipment and some other unforeseen circumstances.
o Business Interruption Insurance (Revenue Protection): Business Interruption can come in very handy for hairdressers. This type helps with redundancy payments for a set period of time in case your business is interrupted or closed due to a fire or some other unforeseen event. It also enables you to pay bills and pay employees.
o Stock and Equipment (Tools and Goods) in Transit: This cover is especially useful for mobile hairdressers, although it’s good to have even if you’re not mobile. Under this cover plan, protection is provided for the accidental damage or loss of stock and equipment while it’s being transported. Due to how expensive the equipment and products may be, this can make all the difference between staying in business or closing due to lost or damaged equipment and products.

Not all hairdressers need a large amount of every type of insurance. Some insurers offer a combined hairdresser package that makes it quite simple to obtain the appropriate coverage. Every hairdresser should consider purchasing at least the minimum amount of coverage in each of the aforementioned plans. After all, hairdressing insurance is not a luxury. It is a necessity for any hairdresser who wants to stay in business for a long time.

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Copyright by JOAN 2008