There are approximately 512,348 small businesses in Indiana alone. When you own a hair salon, there are coverages you may not know you need. Fortunately, a licensed adviser can help with policy selection.
An independent insurance agent will review your coverage at no cost so that you can make the right choice. They have a network of carriers for the best premiums around. Connect with a local expert on TrustedChoice.com and save.
What Is Hair Salon Insurance?
When you run a hair salon in Indiana, you'll want adequate protection for all the what-ifs. Your coverage will look different from everyone else's because your business is unique. There are standard policy options that will be typical when your own a salon. 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?
The right protection for your salon is necessary if you want to avoid a significant financial setback or worse. There are policies that can protect every corner of your operation in Indiana. 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.
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How Much Is Hair Salon Insurance in Indiana?
When it comes to the cost of commercial insurance, no two policies are alike. Numerous items can affect your premiums, and they should be considered when obtaining quotes. Check out the risk factors insurance companies use when rating your hair salon insurance in Indiana.
- 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
If you're looking for instant savings, speak with your agent about bundling. When you bundle your business insurance policies with the same carrier, you'll save big. Companies will give a 30% discount or more on coverage.
Will My Location Impact My Rates?
The location of your hair salon in Indiana will have an impact on your pricing. Carriers review all angles of your potential exposures and 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
Flood zones are another item that will determine your costs and coverage. Your property will be in a specific zone that lets the carriers know exactly how at risk you are for flood damage. If you are in an A or V zone, you will be required to carry flood insurance.
How an Independent Insurance Agent Can Help
Insurance coverage can be challenging to understand if you're not a trained professional. When it comes to protecting your business adequately, there are some things you may be missing if you go at it alone. Hair salon insurance is necessary if you want proper coverage for a loss.
Fortunately, an independent insurance agent will work on your behalf at no cost to you. They have policy and premium options to save you time and money. Connect with a local expert on TrustedChoice.com for details.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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