Massachusetts is the highest-paying state for hairdressers, stylists, and cosmetologists. More than 7,500 people are employed by hair salons throughout the state, with the highest concentration in the Boston-Cambridge-Nashua metropolitan area.
Every year, businesses experience disasters and accidents that can prove very expensive for the uninsured. In fact, in 2019 alone, Massachusetts businesses collected more than $8 billion in insurance claims. Some of these claims were filed by owners of hair salons.
Local independent insurance agents can help you be certain that your hair salon is suitably covered against all its potential risks. Arrange an obligation-free consultation with an insurance agent near you to learn more.
What Can Go Wrong at a Hair Salon?
There are several kinds of problems that can occur at a hair salon, many of which could result in large financial losses for your business if it is not properly insured. For instance, consider how would your salon handle the associated costs in the absence of insurance if the following situations occurred.
- A client slips on a wet floor near your shampoo station and suffers a concussion.
- A hurricane damages the front window of your shop, and many of your furnishings and supplies are damaged beyond repair.
- One of your employees suffers a chemical burn on her hand and needs to take several weeks off work to recuperate.
Talk to a local independent insurance agent to learn how hair salon insurance can cover against these and other potential problems.
What Is Massachusetts Hair Salon Insurance?
Hair salon insurance is a business insurance policy package that has been specifically customized to meet the coverage needs of businesses like hair salons, barbershops, and beauty parlors.
How Much Does Hair Salon Insurance Cost in Massachusetts?
The cost of hair salon insurance can vary from one business to the next. Some of the factors that can influence how much your policy will cost include the following.
- The size of your salon and its expected annual revenues
- Whether you own or rent the building in which your salon is housed
- The number of workers you employ
- The value of your salon’s assets
- The crime rate and weather risks in the ZIP code where your salon is located
- The amount and types of liability coverage you are purchasing
- Your salon’s claims history
The only way to find out how much coverage will cost for your salon is by contacting a few competing insurance companies and requesting customized quotes. Independent insurance agents can do this on your behalf.
What Does Massachusetts Hair Salon Insurance Cover?
A comprehensive business insurance policy for your Massachusetts hair salon can provide your business with the following kinds of coverage.
- Business liability insurance: This can cover court costs, legal fees, settlements, judgments, and other damage if your hair salon is sued for a covered event. There are many different types of commercial liability insurance available.
- Commercial property insurance: This can cover the cost to repair or replace your business-owned property if it is lost or damaged by a covered event like a fire, theft, or severe weather.
- Business interruption insurance: This can provide your business with a continuation of income if it must temporarily shut down while repairs are made following a covered event.
- Workers’ compensation insurance: This can cover medical treatments and disability pay if workers are injured on the job. This insurance, which is required of all employers in Massachusetts, is usually purchased separately as a stand-alone policy.
A local independent insurance agent can help you build a business insurance policy package that includes all the coverage your hair salon needs.
Do I Need Any Specific Liability Coverage for My Massachusetts Hair Salon?
Business liability insurance can save your hair salon a lot of money if it ends up on the wrong end of a liability lawsuit, but you need to make sure you have the right policies in place in order to be covered.
Some of the business liability insurance products your agent may recommend include the following.
- Premises liability insurance: This can cover third-party injuries that occur due to an accident at your salon.
- Product liability insurance: This can cover third-party injuries or illnesses caused by products used or sold by your salon.
- Professional liability insurance: This can cover your stylists and business if an unhappy client sues for a poor job that resulted in emotional or monetary losses.
- Cyber liability insurance: This can cover your salon’s obligations to clients if criminals hack into your computer system and access customer information such as names, addresses, and credit card numbers.
- Employment practices liability insurance (EPLI): This can cover your business against accusations of illegal employment practices such as harassment, discrimination, intentional infliction of emotional distress, and wrongful termination.
A local independent insurance agent can review your hair salon’s liability exposures and can recommend the right kinds of insurance to cover against each of them.
What Is Not Covered by Hair Salon Insurance?
Although damage caused by most severe weather events are covered by your hair salon’s commercial property insurance, some are not. For instance, commercial property insurance does not cover the following.
- Damage caused by floods: To be covered against flood damage, you will need to purchase a commercial flood insurance policy.
- Damage caused by landslides/mudslides: Most of the time, damage caused by landslides and mudslides are the direct result of flooding, and therefore may be covered by flood insurance.
Learn more by talking to a local independent insurance agent.
How Can an Independent Insurance Agent Help Me Find the Best Coverage?
Independent insurance agents can help you identify your salon’s potential risks and can recommend the right insurance products to cover against each of them. That way, you do not need to worry that your business has any unintended coverage gaps.
Independent agents are not tied to a particular insurance company, so they are free to shop around to help you find the policies you need at the most affordable prices. There are nearly 1,300 independent agents in Massachusetts. Contact an insurance agent near you to get started.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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