How much is beauty insurance?
Find out more about the cost of insurance for your beauty business – whether you’re running a salon, working freelance or driving to clients’ homes.
If you’re reading this article, it’s likely you already realise that, as a beautician or beauty therapist, you face a range of daily risks. Getting beauty insurance is a good step towards covering your business against damaging legal claims if something goes wrong. If a customer suffers damages, you could be involved in a lawsuit – even if the blame lies with a batch of faulty products rather than yourself.
As you’d expect, the cost of beauty insurance varies and depends on several factors. These include whether you’re:
- a freelancer working at a beauty salon
- a salon owner
- a self-employed mobile beauty therapist.
Insurers will also take into account the kinds of beauty services you perform. For example, beauticians who use intense pulsed light techniques are typically considered higher risk than say those who focus on nail art. Therefore beautician insurance premiums in the first instance may likely be higher as a result. Get a beauty insurance quote today to find out what getting covered will cost you.
Types of insurance needed for a beauty salon
If you own a beauty salon you should consider your insurance needs carefully. Understandably it’s important to take the cost of insurance into account. But it’s also worth factoring in the daily risks involved in running your business and the resulting cost of replacing stock and equipment as well as the legal bills if your business was sued. If you have a beauty salon, your insurance needs could include the following:
Stock and business contents insurance
The value of the cosmetic products in your stock and especially any specialist equipment can quickly add up. Make sure it’s all covered against insured events, such as theft, fire, or storm damage.
Employers’ liability insurance
If you employ any staff at your beauty salon, including apprentices, you’re required by law to have employers’ liability insurance, and to display a certificate publicly.
Public liability insurance
As your work includes contact with members of the public, it’s highly recommended that you have public liability insurance to cover potential expensive legal claims from customers or members of the public.
If you’re performing treatments on clients then treatment liability cover will insure you for any illness or injury caused by a treatment. It’s important to make sure the treatments you carry out on clients are listed as included in the policy you choose. Keeping a salon going is expensive so you should consider business interruption insurance in case you’re forced to close due to an insured event such as a fire or flood. This can be a cost-effective way to save yourself from worrying over how you would cope with mounting bills if you couldn’t trade.
Types of insurance needed for a mobile business
If you’re a mobile beauty therapist you won’t have fixtures and fittings to insure but you’ll still need to make sure you’re adequately covered. This could mean taking out public liability insurance and treatment cover for the reasons explained for salon businesses.
You may also wish to insure your stock and equipment as you're out and about and even business money in case of theft. If you drive for your work to visit clients, then you’ll have to insure your vehicle for business use. Failure to do this could leave you uninsured in the case of an accident.
Beauty insurance: pay monthly plans
Pay monthly beauty insurance plans can help you save on the upfront costs of getting cover. In some instances it may not even cost you any interest. Direct Line for Business offers interest-free pay monthly plans for the first year, making it easier for you to choose a small business insurance package that’s right for you.
Beauty insurance: one-off payments
After your first year, once you’ve built up some capital, you can either pay a small amount of interest and continue with your pay monthly plan, or pay upfront and benefit from a zero-interest option. Now you know what kinds of cover to consider, the only way to get a full answer to the question ‘how much is beauty insurance’ is to get a beauty insurance quote that reflects your circumstances.