Salon and Barber Insurance Cambridge MA

What Type of Policies Do Salons and Barber Shops Need?

There is a whole range of different insurance products available for salons and barber shops. Most salon and barber insurance packages include:

• General liability insurance – This policy covers any bodily injury or damage caused to another person or business. Additionally, it covers the legal fees and any settlement costs related to the initial damages.
• Commercial property insurance – If premises you rent or own sustain damages, either from fire, vandalism, or other disasters unrelated to natural wear and tear, you are covered for repairing or rebuilding the property. You also have coverage for the contents of the property up to the limits specified by your policy. Oftentimes, commercial property insurance and general liability insurance are offered as a bundle and called business owners’ policy.
• Business income insurance – If you cannot work temporarily due to external forces, your losses are covered.
• Equipment breakdown insurance – Your business depends on shavers, dryers, straighteners, and other styling tools. This policy helps cover the cost of repairing or replacing them when they break, including damage from power surges, mechanical breakdown, and burnout.

However, that is not everything that insurance companies offer. Here are some other insurance policies to consider:

• Commercial auto insurance – If you own a company car or other vehicle, you need to purchase auto insurance.. It covers you and any employees who get into an accident while driving the car for business purposes.
• Errors and omissions – Also known as professional liability insurance. If a client believes your business caused them an illness, injury, or an infection and files a lawsuit against your business, your legal fees, and settlement costs will be covered.
• Workers’ compensation insurance –In most states, you will be required to take out workers’ compensation to cover the illnesses and injuries employees sustain while doing their job. Additionally, if an employee decides to file a lawsuit, you will be covered for the legal fees.
• Employee practices liability – If a current or prior employee files a lawsuit for harassment, discrimination, or wrongful termination, your legal fees and settlements will have coverage.