Hair Salon Insurance: How Workers' Comp Insurance Works
In the day-to-day life of a hair stylist, one of their primary concerns is providing quality service to their clients. Whether it's a haircut, applying hair color, performing a blowout, or installing extensions, they're likely prepared to handle it. For the salon owner, the business aspects may also need their attention.
Competition is tough in the beauty industry. Almost every year, there is an increase in hair salon businesses. In 2022, thousands of hair stylists and related businesses registered in the US. With ownership comes state regulations.
Hair salon insurance is one of these regulations you might not want to get caught without.
Dealing with workplace injuries or accidents is a reality. That's why helping to protect what you've worked so hard to build can be important. One way to do that is by getting Workers' Compensation insurance for your business.
Keep reading to learn about Workers’ Comp insurance and why you should consider obtaining a policy for your hair salon business.
What Is Hair Salon Insurance?
No two hair salons are the same, so you'll likely need different types of business insurance based on your circumstances. Having insurance can be essential for almost any business. Accidents can happen at any time, and some of them can become really serious.
Barbers and hairdressers are vulnerable to injury, so it can be important to have coverage to help protect yourself and your business from financial losses due to an accident.
If you own a hair salon, there are four main types of insurance you should inquire about:
- General Liability
- Business Property
- Cyber Insurance
- Workers’ Comp
General Liability coverage can help with claims related to harm to others. Business Property coverage can protect physical assets including equipment, furniture, fixtures, tools, and inventory. Cyber insurance is for businesses that collect client data and can provide financial assistance with recovery services in case of a data breach.
If you have employees, you might want to think about Workers' Comp insurance. If an employee is injured on the job, a Workers’ Comp insurance policy can cover costs related to the workplace injury.
Is Workers’ Comp Insurance Required?
It can be a frightening thought, but you could be relieved to know that your salon's employees may have protection in the form of Workers' Compensation insurance. Hair salons are typically required by law to have Workers' Compensation coverage in most states.
This hair salon insurance can cover the following:
- Emergency medical care
- Doctor visits
- Medication
- Physical therapy
- and lost wages
Keep in mind that Workers’ Comp only covers employees. Workers' Compensation insurance coverage can come into play if an employee is injured or ill as a result of performing their job responsibilities. It can also help by covering a portion of their lost wages while they recover.
Risk Management
Trained hairstylists know one mistake can make your hair day a nightmare. Everything from cutting their hair too short to not mixing the hair color right can ruin everyone's day. That's why you should prioritize training and choose great stylists to work in your salon.
It's commendable that you take great care to please your clients. The next task is to help protect yourself from risk resulting from employee injuries.
Workers' Compensation can be important to protect yourself, your team, and your staff from the costs of on-the-job injuries. However, it can be just as important to be proactive about workplace safety.
Following industry best practices, utilizing the right techniques, and hosting safety training sessions can be great ways to help reduce workplace injuries. Not only can it help decrease the number of injuries in your business, but it can also help reduce your insurance premiums.
Insurance providers offering Workers’ Comp coverage might prefer to work with businesses that prioritize workplace safety. Offering risk management training and posting safety reminders in the salon could be beneficial.
Common Hair Salon Injuries
Working in a hair salon could expose you to many risks that can lead to injuries. Without Workers’ Compensation you could be expected to pay claims out of pocket.
Every dollar you spend on a Workers' Comp claim could instead be used to train new staff and fix or replace damaged equipment. Here's a list of the most common injuries beauty salon employees could experience:
- Slips and falls
- Puncture wounds and cuts
- Electrical injuries
- Equipment and chemical burns
- Over-exposure to chemicals
Finding Workers' Comp Insurance
Finding hair salon insurance is part of branching out and becoming an independent business owner. It can be essential to your success to help protect your salon, as well as your employees.
No one plans to drop a hot straightening comb on their foot or to slip and fall on a wet floor.
You can't plan for every emergency, but every workplace should consider Workers’ Comp insurance. That's where PolicySweet® steps in.
We encourage salon owners needing a Workers’ Comp policy to request a quote. Our representatives are here to help you find coverage for your business.