Comparing insurance prices for your beauty salon or spa is important. You are managing a business that occupies a building, has employees, and likely includes you as a beauty worker. There are a few tips here that help you choose the appropriate insurance plan. These plans are unique because they serve different purposes depending on the type of business you manage.
Compare Prices Online
You can look at a comparison chart that will help you understand which companies are in the area. You may prefer to work with a company that you know, or you can choose the cheapest policy you can find. If you check the Elite Beauty Society prices, you should look at each type of insurance that your spa or salon might need to carry.
Personal insurance is required when you are working as a hairstylist or aesthetician. You need personal insurance, and everyone on your staff should have the same policy. Your staff is protected from any claims that could be made against them, and you do not need to pay for any of these claims as the business owner.
Business insurance is a wonderful way for you to protect the building and your staff. You can use business insurance to protect your company if you start losing money because of a disaster. Business insurance will pay for replacement equipment due to theft or fire. You may also use business insurance to pay for your staff when you have had issues with payroll because your customers have not paid.
Worker’s Compensation Insurance
If you employ more than a few people, you need worker’s compensation insurance. Your staff should be protected by these policies if they are hurt at work. You will send an injured employee to the worker’s comp doctor, and the policy will pay for everything. This is much better than forcing your employees to use their health insurance. Also, worker’s comp is required by law. You could be cited or lose your business license if you are not properly insured.
Work With An Agent
If you are not certain what you need, you should work with an agent. An insurance agent will create several policy examples that you can review. The policies you choose should offer you different levels of coverage and different prices. You should work with the agent to find the most affordable policy, and you should ask your agent to look out for any policies that you might like more. Some policies are very cheap because they have high deductibles, but you might want to pay more so that you can lower your deductible.
Ask About Multiple Policies
When you are comparing prices, you should ask about multiple policy discounts. Your agent can get you a discount that makes your policy more affordable, and you can add insurance for each employee to your policy. You will save money on the policies because of this discount, and you can be sure that everyone on your staff is insured.
When you start looking for insurance for your spa or salon, you must choose a policy that you believe helps you protect your business and yourself. You can get personal insurance that will protect you as a professional, and you should get worker’s comp insurance to protect your staff. Business insurance will help protect your company and your facility. You should consult with an insurance agent who will show you how to save money, and the agent can change your policy if you find a better option or need to lower your premium.