In Alabama, there are approximately 396,432 small businesses. If you're one of them, you'll need adequate protection for all that life throws at you. Hair salon insurance can cover many things and should be reviewed with a professional.
Fortunately, an independent insurance agent can help. They have access to multiple markets so that you get the best coverage and rates in town. Connect with a local expert and start saving today.
What Is Hair Salon Insurance?
If you own and operate a hair salon in Alabama, you could obtain several different policies. Hair salon insurance will help protect your liability as a business owner and your assets like commercial property and belongings. You can even have coverage for your employees and more. The most common policies will include limits of protection for the following.
- Bodily injury
- Property damage
- Employment practices
- Employee injuries or illness
- Theft and vandalism
What Does Hair Salon Insurance Cover?
In 2019, Alabama had $5,021,062,000 in commercial insurance claims paid alone. Your coverage is necessary to avoid financial ruin and keep your business afloat. Hair salon insurance will come with these standard policy options.
- General liability insurance: Pays for bodily injury or property damage claims where you and your employees are responsible.
- Business interruption: This will pay for regular business expenses when you are temporarily shut down due to a covered loss.
- Commercial property insurance: Pays for building, equipment, and inventory damage from a covered loss.
- Crime insurance: Pays for a claim involving forgery, fraud, or theft to your company.
- Commercial auto insurance: Pays for an auto accident involving a company vehicle.
- Workers' compensation insurance: Pays for an employee's medical expenses resulting from an injury or illness on the job.
- Errors and omissions insurance: Pays for negligence, personal injury, and consulting lawsuits of a client.
How Much Is Hair Salon Insurance in Alabama?
The price of commercial insurance in any state will be dependent on your specific criteria. Carriers look at personal data, among many other things, when deciding your costs. Check out the risk factors insurance companies use when rating your hair salon insurance in AL.
- Type of operation you run
- Prior claims reported
- Number of years in the industry
- If you have employees
- If you have sanitation practices
- If you have safety practices
- The value of property owned
- Hours of operation
Another way to cut costs is by bundling your policies. When you bundle your commercial insurance with the same carrier, they give a deep discount. A savings of 30% or more is typical for most companies.
Will My Location Impact My Rates?
Where you have your hair salon in Alabama will affect your premiums. Insurance companies look at a few items when it comes to your location and then charge accordingly. Take a look at what could affect your rates based on your territory.
- Local crime rate
- Local natural disasters reported
- Local claims reported by other insureds
- Flood zone assigned
FEMA will assign each property a flood zone based on their risk level of a flood occurring. Every location will have a chance of flooding, some more than others. If you are in zone A or V, you will be required to carry flood insurance by a lender or mortgagee.
How an Independent Insurance Agent Can Help
When you're searching for protection in Alabama, there are a lot of options. If you're a business owner, you may feel responsible for figuring it all out on your own. Fortunately, hair salon insurance can be obtained with the help of a trusted adviser.
An independent insurance agent works on your behalf at no cost so that you can save time and money. They have several carriers they can access for affordable rates. Connect with a local expert on TrustedChoice.com in minutes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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