Hair Replacement Service Insurance

A Guide to Hair Replacement Service Insurance

Protect your livelihood with customized business insurance.

Hair transplant patient. Find hair replacement service insurance.

Hair replacement services, or hair restoration services, specialize in surgical and non-surgical hair replacement and restoration procedures for people suffering from hair loss. Non-surgical methods may involve medications or procedures performed by aestheticians or other licensed professionals. Surgical procedures are performed by physicians who specialize in hair restoration surgeries.

Owning a hair restoration service 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 lawsuits and property damage involving your business and your customers.

An independent insurance agent can help you get the customized hair replacement service insurance that you need.

Why Do You Need Hair Replacement Service Insurance?

Hair replacement services offer surgical and non-surgical solutions for hair loss. These medical procedures involve the work of a physician or other medical professionals. You also need expensive equipment, a well-furnished facility, and appropriate health and safety measures throughout your clinic in order to run a successful business.

The risks you face because of the work you do are immense. Here are just a few:

  • Making mistakes/causing injuries to patients
  • Slips and falls in your office, and other liability risks
  • Property losses because of fire, theft, vandalism, and weather events
  • Business interruptions due to property losses
  • Cyber breaches
  • Employee theft and other crimes
  • Employee lawsuits
  • Employee injuries

You need hair replacement service insurance to help you recoup your losses when you're faced with one of these costly problems.


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Property Insurance for Hair Replacement Services

Hair replacement service insurance starts with property insurance. If you lease your space and do not have a building to cover, you still need insurance protection for your owned commercial property on your premises.

Commercial property insurance provides coverage for property damage that occurs as a result of fire, theft, vandalism, weather events, and other covered perils.

Property insurance is also necessary to protect any capital equipment needed to perform hair replacement services. If you have any large equipment, it can be specifically covered by your commercial property insurance.  

Your commercial property policy should also include business interruption coverage, which helps you pay for expenses like rent and employee salaries if your hair replacement service must close to make repairs after a fire, storm, or some other covered event.

General Liability Insurance for Hair Replacement Services

Liability insurance is the most important type of insurance protection for a hair replacement service. Commercial general liability (CGL) insurance provides broad coverage for third-party bodily injuries or property damage that occur 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 patient while getting or after getting hair replacement services

You can add a variety of additional coverage riders onto your CGL policy to make sure it addresses your specific liability exposures.


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Professional Liability Insurance for Hair Replacement Services

Professional liability coverage applies to licensed medical professionals, including physicians, nurses, and physician assistants, or others who perform surgical or non-surgical medical procedures in your hair restoration service. While complications are rare, they can happen and you will want to ensure that your business and your medical professionals are protected.

Professional liability insurance—or malpractice insurance—protects medical professionals 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.

What Other Insurance Policies Do Hair Replacement Services Need?

Your basic property and liability insurance policies provide broad coverage for a wide range of claims. But some types of claims are excluded from coverage or are not sufficiently covered under these basic policies. You’re likely to need some additional types of hair replacement service insurance policies, including the following:

  • Commercial umbrella insurance: Provides excess liability protection to any of several other policies you might have. If an injury in your clinic leads to an expensive lawsuit that exceeds the limits of your CGL policy, your commercial umbrella kicks in with higher coverage limits.
  • Employment practices liability insurance: Covers you if an employee sues you for discriminatory employment practices.
  • Cyber liability insurance: This coverage 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.
  • Workers’ compensation insurance: This is typically required for any business that has employees, and pays for lost income and medical expenses for employees who are injured on the job.
  • Employee theft and crime coverage: Protects your business if an employee or a group of employees engage in theft, forgery, or fraud that damages your business.
  • 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.

An independent insurance agent can help you determine which additional policies you need in order to appropriately cover your unique risks.

How Much Does Hair Replacement Service Insurance Cost?

Your hair replacement service 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 that specialize in hair replacement service insurance at a price that fits your budget.


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Benefits of an Independent Agent

An independent insurance agent who has experience working with hair replacement services and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous reputable insurance companies that specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will 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.

Find and Compare Quotes for Hair Replacement Service Insurance

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.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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