Specialist insurance can cover beauticians, makeup artists, nail technicians, hairdressers, and other professionals from the unique risks associated with providing beauty therapist services.
In this post we will take a quick look at the sort of insurance beauty therapists need, before exploring the factors that can affect how much you pay for your specialist cover.
What Type Of Insurance Do Beauty Therapists Need?
As a beauty therapist, you will need cover for:
- Your specialist equipment
- Liability cover just in case a customer ever makes a claim against you
- Your business premises, to cover you for losses from fire, flood, or theft, if you run your own beauty establishment
- Treatment risk insurance, depending on the type of services you provide. If you accidentally injure a customer during a procedure, or if they experience an allergic reaction to a product you use, this can cover any legal fees or compensation payments that may arise.
- Employer’s liability insurance, which you have a legal duty to get if you employ any staff. This will cover your employees for any accidents or injuries they may experience while working for you.
You can read our full guide to insurance for beauty therapists.
How Much is Beauty Therapist Insurance?
The minimum insurers charge for very basic cover is around £5 – £8 a month for beauty therapist insurance. Though the amount you pay for your cover can vary greatly depending on a number of factors.
What Can Affect The Cost Of Beauty Therapist Insurance?
- The Type of Beautician Services You Offer – If you provide highly specialist services, such as microplanning, dermaplaning, and other more intensive procedures, then you may need treatment risk insurance. This will likely cost you more than a standard business insurance policy.
- The Type of Business You Run – Many factors can increase the cost of your cover, including the number of employees you hire, and the size and location of your beauticians premises, if you have one. On the other hand, you will likely pay less for cover if you are an independent beautician and you visit clients on their premises to provide your services.
- The Level of Cover You Get – When you take out a policy, you may have a choice in the amount of liability cover you get. This can determine the overall price of your policy.
How Can I Reduce The Cost of Beauty Therapist Insurance?
You can make a saving on the cost of your insurance through only taking out the bare minimum of cover. However, this could prove risky. If you ever need to make a claim on your policy, you might find that your insurance will not cover you for your losses.
It is much better to have the cover you need than it is to risk underinsurance. As a result, the best way to save money on your policy is through working with an insurance broker.
James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who care about protecting your beautician business. We will take the time to get to know you and the services you provide. We can then help you access the specialist, tailored cover you need at a competitive price.
Find out how we can help you with your beauty therapy insurance today.