In Tennessee, there are roughly 603,310 small businesses in existence. When you own an operation, there are a lot of what-ifs. Hair salon insurance can help protect your livelihood and assets from financial loss.
An independent insurance agent will have access to multiple markets so that you get the best options on coverage and premiums. They do the shopping for you at no additional cost. Connect with a local expert for custom quotes today.
What Is Hair Salon Insurance?
If you own a hair salon in Tennessee, there are several policy options to review. Hair salon insurance will cover your liability risk and commercial property when you're a business owner. If you have employees, there are separate coverages for that as well.
What Does Hair Salon Insurance Cover in Tennessee?
In 2019, Tennessee had $6,317,565,000 in commercial insurance claims paid alone. Insurance is necessary to keep your business thriving and avoid financial ruin. 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 Tennessee?
The cost of your commercial insurance policies will be dependent on your specifications. Carriers review personal data and outside elements when calculating your premiums. Check out the risk factors insurance companies use when rating your hair salon insurance in TN.
- 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 on your hair salon policies, consider bundling. When you bundle all of your coverage with the same carrier, you'll save. Discounts of 30% or more are standard.
Will My Location Impact My Rates in Tennessee?
Where your hair salon is located in Tennessee will impact your costs. 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
Every location will have a chance of flooding. Another policy you'll have to consider is flood insurance. If your property is in zone A or V, you will be required to carry coverage by a lender. Check with your adviser to obtain FEMA-approved quotes.
How an Independent Insurance Agent Can Help
In Tennessee, your commercial coverage is essential to avoid a loss that could put you out of commission. There are multiple items you'll be responsible for as a business owner. Hair salon insurance can help protect what matters most.
An independent insurance agent will be able to work up quotes for an affordable price. They do the shopping for free so that you can relax while you save. Connect with a local expert on TrustedChoice.com to get started today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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