Insurance for Cosmetologists
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What Insurance Do Cosmetologists Need?
Umbrella Policy adds an extra layer of protection to professionals if a serious event or cumulative claims exhaust your current policy limits. It also covers you for events that would otherwise be excluded from your other policies.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused somebody financial loss. PLI covers your legal defense costs, damages and settlements.
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Frequently Asked Questions
Why do Cosmetologists need insurance?
Cosmetologists are like artists in the beauty industry, starting with a canvas to paint a beautiful masterpiece. Customers rely on you for special events like weddings, proms and more. Even though it seems risk-free, there is always the possibility of lawsuits, injury or damage that can cause financial ruin. Cosmetology insurance protects you in these moments from loss of finances and a damaged reputation. This coverage consists of cosmetology schools as well as beauty shops and hairdressers.
What risks could Cosmetologists face?
The art of cosmetology includes several risks:
- Bodily Injury: Using a makeup remover or face wash to rid any dirt from your client’s skin is normal, but an allergic reaction or burns can lead to a lawsuit.
- Advice Goes Wrong: Many cosmetologists offer advice for future skincare and if products you recommend cause injury or damage, you can be held responsible.
- Bad Product: If you sell makeup products and they don’t work or damage clothing or other property, customers can file a lawsuit for financial damages.
- Loss of Income: Cosmetologists often rent booths at a local hair salon. If the salon catches on fire, you are left without your products or a place to make an income.
How much does Cosmetology Insurance cost?
Cosmetology insurance costs are different depending on the insurance company. To determine premiums, companies look at experience, claims history, and the types of cosmetology services you offer. To receive a quote for cosmetology insurance today, simply complete our online form.