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Our specialty is helping small business owners to protect themselves and their businesses.
If you operate a hairdressing or beauty salon, we can assist you with a range of business insurance types.
To speak with one of our team members please call us on 1300 542 245 or click on the quote button to the right.
For more information about hairdresser insurance please read on…
Insurance Types
There are a number of different types of business insurance available to hairdressers.
The types of insurance that your business requires will depend on the type of operation you are running.
Some of the most common policies include the following:
- Public Liability
- Contents / Stock
- Money
- General Property
- Glass
- Business Interruption
To see where these different types of cover fit in for a hairdresser we’ll take a look at some of the possible risks you face in business.
SITUATION 1: A customer suffers injuries due to a treatment you have provided
RISK: The customer sues you for damages
POLICY OPTION: Public Liability
SITUATION 2: A customer slips and falls whilst in your salon suffering an injury
RISK: The customer sues you for damages
POLICY OPTION: Public Liability
SITUATION 3: The contents and stock within your salon are lost or damaged
RISK: You need to replace all lost or damaged items
POLICY OPTION: Contents / Stock
SITUATION 4: Your business suffers a robbery
RISK: Cash is stolen
POLICY OPTION: Money
SITUATION 5: A glass shopfront suffers a breakage
RISK: You need to replace or repair the glass
POLICY OPTION: Glass
SITUATION 6: Your business premises suffers serious damage and you cannot run your business
RISK: Your business loses revenue
POLICY OPTION: Business Interruption
These are not the only risks that a hairdressing business faces, but they are some of the more common and major risks.
Just as there are other risks we haven’t listed, there are also other forms of business insurance that you can speak with your insurance broker about.
Place of Business
The cover you require will depend largely on where you operate your business from.
In the table above we have assumed that the business is running from a salon, but there are plenty of hairdressers who now operate from home or provide a mobile service.
If you operate your business from somewhere other than a fixed salon then your insurance requirements will be slightly different.
This is something that your insurance adviser or broker can run through with you, but basically it just means you won’t need cover for anything relating to a physical salon.
Special Considerations
Whilst a hairdressing or beauty salon will generally take out a business insurance policy that is very similar to any other business type, there are some important considerations.
Not all insurance policies will cover all activities which are undertaken by a salon. For this reason it is important to check your policy to ensure that all of your activities are properly covered.
If you undertake any types of treatment such as colouring, perms or hair extensions, you may find that a standard policy will not cover you.
This is not a problem and we certainly have access to policies that cover all of these treatments, but it’s important to know about these things before taking out cover.
Your insurance broker can run through these activities with to check whether or not you’ll need a special insurance policy to cover them.
Insurance Cost
The cost of insurance for your hairdressing business will depend on two main factors, which include the size of your business and the activities that you undertake.
The size of your business will be measured by your annual revenue or your staff numbers, or in some cases a combination of both.
Generally speaking the larger your business, the higher your insurance costs will be.
The activities you undertake will also have an impact on the costs, especially if you are undertaking certain treatments as mentioned earlier in this guide.
Another factor is the amount of cover required. If you are operating a mobile service and only need a public liability policy, your cost will be lower than someone running a salon who needs to insure their contents and other items.
Payment Options
Business insurance policies for hairdressers can be paid annually or monthly.
Monthly payments are handled through a process known as premium funding. For more information please follow the link to our monthly payment guide.
It will be more expensive to pay your insurance monthly, however it is still a popular option with many salon owners as it allows you to spread the cost over a greater period of time.
Your insurance broker will be happy to provide quotes on both monthly and annual options.
Next Steps
For more information on insurance for your business please call us on 1300 542 245.
Our team can assist you regardless of whether you’re just chasing quotes or if you want to sit down with a qualified insurance broker to discuss your needs.