Do I need a Business Owner's Policy as a self-employed beautician?
Explore why a business owner's policy is essential for self-employed beauticians. Plus, consider additional insurance policies for comprehensive protection.
Published June 4, 2023.
As a self-employed beautician, a business owner's policy (BOP) is an essential safety net. This beautician insurance solution combines general liability insurance and commercial property insurance to help protect you against various potential threats.
Understanding BOP coverage for self-employed beauticians
BOP can help you cover costs related to:
- Property damage Your salon space, equipment and other assets can be damaged due to unforeseen circumstances. For example, a fire could destroy your high-end beauty chairs or customer furnishings.
- Bodily injury Despite all the precautions, clients or visitors might get injured at your salon. For example, a client slips and falls because of a spill in your salon.
- Advertising injury Issues like copyright infringement or defamation can occur unintentionally. For example, using a competitor's trademarked term in your salon's advertisement by mistake could result in legal action.
- Business income interruption There may be situations where you can't conduct business. For example, a severe storm damages your salon, and you lose income during the restoration period.
Extra insurance policies to consider as a self-employed beautician
You can consider the following types of insurance coverage for extra protection:
Professional Liability insurance
Also known as errors and omissions (E&O) insurance, professional liability insurance can protect you from claims about the quality of your professional services. For example, if a client sues you claiming that the facial treatment you provided resulted in a skin infection, this policy can cover legal costs.
If you have employees, workers' compensation is crucial. It can cover medical expenses and a portion of lost wages if an employee gets injured or falls ill because of their work. For example, workers' compensation can cover their medical bills and time off work if your employee develops carpal tunnel syndrome from providing beauty services.
Beautician insurance designed for your business
In a competitive beauty industry, it's crucial to safeguard your business with a BOP.
At NEXT, we understand your beauty business is unique. That's why we offer affordable business insurance suited to your needs. Take a few minutes to answer an online questionnaire and instantly receive your custom quote. Once you've purchased your insurance package, you can immediately access your certificate of insurance and share it with others via the NEXT app.
» Ready to grow your beauty business? Follow these expert tips