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Essential coverages to meet client demands
When you also have equipment or operate from an office
All Basic plan benefits and:
Protect your business against service errors
All Standard plan benefits and:
A Business Owners Policy (BOP) is insurance that covers multiple categories. This policy will act as a combination of two important policies, General Liability and Commercial Property. General Liability is a must have for estheticians who operate businesses out of offices or their homes and may have an interest in Property Insurance, which insures physical property where you work.
Those who own and operate a business should strongly consider General Liability insurance. There are two key areas that this policy covers that concern practicing and licensed aestheticians. This policy will cover Bodily injury claims related to your business operations and Property damage claims made by others, including customers.
Workers' Compensation is one of the most common insurance policies. It is also required by almost every state. Workers' Compensation covers employees who become injured on the job. You may not need to buy it at all in some locations if you only have a few employees, for example businesses in Texas have no legal requirement to purchase Workers' Compensation.
No professional wants to believe they will ever make a mistake. However, accidents can and do happen. When they do, you will be on the hook for compensating your clients. Errors & Omissions (E&O) insurance, also known as Professional Liability, helps businesses cover costs resulting from errors in either advice or services provided. This is important for estheticians, who often do both.
Beautiful skin is more than just an issue of vanity. Commonly confused with dermatologists, estheticians focus on cosmetic skin issues. estheticians help with a variety of skin problems and diseases, from eczema to lupus. Sometimes, a dermatologist will refer a patient to an esthetician to handle particular skincare issues. Often called “skin care therapists”, estheticians realize the importance skin plays in our lives and dedicate themselves to helping others have the best looking and healthiest skin possible.
Many estheticians also deal with the common health industry concerns including skincare advice and owning and operating a business. Each of these primary functions for a practicing and licensed esthetician can come with legal risks. Whether you’re a new esthetician just opening a practice or long-practicing professional, it’s important to know what insurance you need to protect yourself and your business.
Estheticians are not licensed medical doctors and are not allowed to prescribe medications. However, estheticians must be licensed to operate a business. Estheticians offer advice, work in a physical location, and come into direct contact with customers, so there is a need for various insurance products.
You’ll Need This When: Your business begins operating. It is risky to open a business without securing a General Liability policy from day one. Even on the first day of operation, it’s possible for an accident to happen for which you or your business could be held responsible.
For Example: If a customer receives a chemical burn from a product you use on his or her skin, you could be sued. A General Liability policy may insure your business against this type of claim.
You’ll Need This When:
The moment you meet the legally required minimums for your state. In some states, this is as few as one employee. In other states, it could be three or more. Be sure to know the laws of your state and act accordingly to prevent fines.
If your receptionist trips on a cord and is injured on the job, they would qualify for Workers' Compensation. Without this insurance, the employee can sue for damages. Cost of the lawsuit and settlement could bankrupt your business.
You’ll Need This When:
You are planning to open your business. You will need multiple forms of insurance. This policy covers multiple areas and is a good option to help hold fewer individual policies.
If an employee spills a skincare product that causes a customer to slip, fall, injure himself and damage your property. Having multiple separate policies, in this case, could become complicated. However, a single Business Owners policy (BOP) can manage the situation in one step.
You’ll Need This When:
You first start operating your business. Just as it is possible for an employee to get injured even on the first day, it is possible to make an error, or omission, on the first day.
If you supply a client with a skincare product but forget to mention the importance of applying the product within a particular routine, the client may experience an adverse reaction. You omay be held responsible for this omission, particularly if the product’s label did not include the direction you'd recommend.
Insurance costs will vary widely, depending on how you run your business. All estheticians should consider getting a quote to get a better understanding of the real cost of purchasing needed insurance policies.
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