Electrolysis is a type of hair removal that involves passing an electrical current through a hair follicle, which damages the follicle and prevents new hair growth. Electrolysis is the only method of permanent hair removal. It is typically performed by a licensed, board-certified dermatologist or an aesthetician who is trained and licensed to perform the service.
Owning an electrolysis center is very rewarding, but things can always go wrong. You need business insurance to protect your business and your employees from the financial disaster that can accompany fires, theft, vandalism, injuries, and lawsuits.
An independent insurance agent can help you get the customized coverage that you need.
Why Do You Need Electrolysis Center Insurance?
Electrolysis involves a licensed and skilled technician placing an ultra-thin needle into the targeted hair follicle. An electric current passes through the probe, killing the hair root. Permanent results are usually achieved with several sessions, and the patient may only experience mild discomfort. In some rare cases, an electrolysis patient might experience scarring or infection from unsterile needles.
As cosmetic services like electrolysis have become more popular and more affordable in recent years, your electrolysis center has likely become highly successful. But as customers flock to your business in greater numbers, the possibility of something going wrong also grows. You know the risks: infections, mistakes, and injuries to customers coupled with typical retail exposures like slips and falls, fire, theft, vandalism, and weather events.
Electrolysis center insurance is the best way to protect your interests in the event that you sustain some type of property damage or if you are sued. What’s more, if you rent or lease your space, your landlord may require that you have certain coverage.
Property Insurance for Electrolysis Centers
Electrolysis center insurance starts with commercial property coverage. If you lease your space and do not have a building to cover, you still need insurance protection for your physical assets on your premises. Talk to your insurance agent about coverage for your office furniture, computers, signs, and glass. Commercial property insurance provides coverage for property damage that occurs as a result of fire, theft, vandalism, weather events, and other covered perils.
Your commercial property insurance is also necessary to protect any capital equipment needed to perform electrolysis services. If you have any large equipment, it can be specifically covered by your commercial property insurance.
Your commercial property policy may also include business interruption coverage, which helps you pay for expenses like rent and employee salaries if your electrolysis center must close to make repairs after a fire, storm, or some other covered event.
Liability Insurance for Electrolysis Centers
Liability insurance is the most important type of insurance protection for an electrolysis center. Commercial general liability (CGL) insurance protects your business from slips and falls, damage to or loss of property, and injuries that occur on your premises. You can add a variety of additional coverage riders on to your CGL policy to make sure it addresses your specific liability exposures.
A CGL policy provides broad coverage for bodily injury or property damage that occurs on your premises or as a result of the services you provide, including:
- Slips and falls
- Advertising liability
- Libel and slander
- Injury or harm to a client while getting or after getting electrolysis services
Your electrolysis center liability insurance can be tailored to your needs.
Talk to your independent insurance agent about your need for professional liability insurance. Professional liability coverage applies to licensed electrologists, physicians, nurses, and physician assistants, or others who perform electrolysis in your electrolysis center. While complications of electrolysis are rare, they can happen and you will want to ensure that your business and your aestheticians or technicians are protected. Professional liability insurance protects the electrologists from claims of negligence, errors, and omissions in their professional services.
You should always use waivers and consent forms as a means of limiting your liability exposures. If you do not require clients to sign specific waivers and consents, you should start doing so immediately.
What Other Insurance Policies Do Electrolysis Centers Need?
Your basic property and liability policies provide broad coverage for a wide range of claims. But some types of claims are excluded from coverage or are not sufficiently covered these basic policies. You’ll likely need some additional types of business insurance policies, including the following.
- Commercial umbrella insurance provides excess liability protection to any of several other policies you might have. If a customer injury in your salon leads to an expensive lawsuit that exceeds the limits of your CGL policy, your commercial umbrella kicks in with higher coverage limits.
- Commercial auto insurance ensures that you’ll be able to pay for any physical damage or injuries you cause if you are in an auto accident while driving for business purposes.
- Employment practices liability insurance covers you if an employee sues you for discriminatory employment practices.
- Cyber liability insurance is important for any business that uses, transmits, or stores electronic data. It pays for any costs related to a cyber breach as well as any related legal costs if a customer or supplier who was harmed by the breach sues you.
- Worker’s compensation insurance is typically required for any business that has employees, and pays for lost income and medical expenses for employees that are injured on the job. If an employee is injured while lifting heavy boxes, slipping on a wet floor, or falling off of a ladder, for example, worker’s compensation insurance pays for related medical costs and compensates them for time away from work.
- Crime coverage protects your business if an employee or a group of employees engage in theft, forgery, or fraud that damages your business. Having a small business with high-turnover part-time employees makes your business susceptible to employee theft. This coverage also protects you from the costs associated with shoplifting and vandalism.
- Sign coverage pays for damage to outdoor signs that are not attached to your building that is caused by vandalism, theft, weather, or accidents.
- Utility interruption coverage provides income protection if you are unable to operate due to a covered utility (water, electrical) interruption.
How Much Does Electrolysis Center Insurance Cost?
Your electrolysis center insurance cost depends on a number of factors, such as the size and location of your physical space, the value of your business property, the types of services you provide, and the number of employees you have.
With a proper valuation of your property and careful analysis of your professional liability risks, an independent agent can help you find insurance companies who specialize in electrolysis center insurance at a price that fits your budget.
Find and Compare Quotes
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need to protect your business from a variety of costly problems. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right electrolysis center insurance. They’ll walk you through the handpicked policy options and explain the details and options.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can omit important coverage that will leave you devastated if something unexpected happens. And they can leave out cost savings opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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