Compare business insurance quotes with Savvy to help find the best policy for your hairdressing business.
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Making your clients look and feel great is a satisfying part of being a hairdresser or working in a beauty salon. You’re there for them at many milestone events in their lives, such as weddings, engagement parties and job interviews. Strong bonds can be formed between hairdressers and their clients, which is why it can be devastating if your service doesn’t turn out as expected. Having comprehensive business insurance can protect you if a covered event takes place.
You can compare quotes for many types of business insurance here with Savvy. Just answer a few simple questions about your hairdressing or beauty business and you’ll have multiple quotes from a range of respected insurers to consider instantly. Use our quick and easy comparison service to help you find the best value insurance for your salon or mobile hairdressing business today.
There are several types of business insurance you should consider if you’re a hairdresser or run a hair or beauty salon. These are:
Professional indemnity insurance
If something goes wrong with the service you provided, or a client is unhappy with their hair or beauty treatment, you could potentially face an expensive lawsuit. As such, professional indemnity insurance is essential for anyone working as a hairdresser, particularly if you’re self-employed or run a salon.
Professional indemnity can cover you against claims that the service you provided was negligent or fell short of expected professional standards. It’s the most important type of insurance to have for anyone offering professional hair or beauty services to the public. Cover is available starting from $2 million but can extend up to $10 million or more.
What it covers
Public liability insurance
Public liability insurance is also essential for hair stylists, nail technicians or anyone in the beauty or makeup businesses. It can cover you against claims that your business activity caused injury to a member of the public or damaged their property. For instance, if a customer slips on a wet floor or you accidentally cut skin with your scissors, this type of insurance could cover you if an injury claim is made and qualifies under your insurer’s terms. This insurance can offer between $5 million and $20 million worth of cover.
What it covers:
General business insurance
General business insurance is also important if you own a hair salon. It can cover not only your general building contents but also portable equipment (such as hair dryers and heat lamps) and stock, such as the shampoos, sprays and conditioners you sell to clients. Salon owners should be aware that glass breakage is a common exclusion in general business insurance policies, so if you do have a salon full of mirrors you wish to insure, you may need to purchase glass breakage insurance as an add-on to your general business insurance policy.
What it covers:
What isn’t covered under my business insurance as a hairdresser?
Some of the most common general exclusions include:
There is no set cost for an insurance policy, as each applicant is different and faces unique risks. Many factors influence the cost of business insurance, including the following:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.
However, in general terms, businesses in northern parts of Australia will have higher insurance costs than businesses in the southern or eastern states. This is because of the environmental risks posed by cyclones and other extreme weather in vulnerable tropical areas of Australia.
You can find out how much insurance might cost for your business by comparing quotes right here with Savvy. Whether you need insurance for your hair salon or as a mobile hair stylist, you’ll be able to consider a range of offers right here.
Cutting hair may seem like a simple task, but as with any other form of beauty treatment, there’s plenty more involved than the general public may think. Unfortunately, many things can go wrong, for example:
In many of these instances, you can be held liable for the damage, injury, loss or expense caused by the incident or accident, just as make-up artists can also be held responsible for work they do that doesn’t go to plan.
Such personal injury or damage claims can run into millions of dollars, which is why it’s so important to have insurance coverage in the event that something goes wrong. Public liability insurance is there to protect you and your business so you can continue enjoying being a hairdresser or beauty therapist well into the future.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
