Hairdressers Insurance

According to the National Hairdressing Federation (NHF), hairdressing is the fifth most popular independent business start-up.

Although there are some 400,000 hairdressers in the UK, says the NHF, 93% of them are what might be called micro-businesses, employing fewer than 10 people, with two-thirds of that number employing fewer than 5.

Because they tend to be small businesses, almost 95% of them have an annual turnover of less than £250,000 and the majority probably turnover less than £100,000 in any one year.

With earnings at this kind of level, of course, it is important that you do all in your power to safeguard the financial standing of your hairdressing business and protect it from the various risks that might not only knock a serious hole in your profits but threaten the continued existence of your business.

That protection is available in the form of hairdresser’s insurance from Specialist4Business

What is hairdresser’s insurance?

What is hairdresser’s insurance?

Hairdressers insurance protects and safeguards any type of hairdressing business – whether you employ 10, 5 or do all the work yourself.

It not only protects you against the risk of theft, loss or damage to valuable equipment, appliances and stock, but also against a range of potential liabilities you may encounter in your day to day business activities.

What does it typically cover?

What does it typically cover?

In order to do this, hairdressers insurance may cover some or all of the following risks – since any hairdressing business may vary in character one from another, so too do the available insurance options:

Premises, contents and equipment

  • the insurance provides a secure defence against loss or damage to your premises (if you own them), the fittings and furnishings typically required in any hairdressing salon and the equipment you use to fix your customers’ hair;

Public liability insurance

  • one of the most significant – almost hidden – risks to your business arises from your public liability;
  • if a customer, a visitor to your salon, a client you are seeing in their own home, or even a member of the public is injured or has their property damaged in any way connected with your hairdressing business, you may be sued for a substantial sum in compensation;
  • especially if physical injury is concerned, the claims may reach a considerable amount and it is common for public indemnity insurance to offer a minimum of £1 million of cover;

Employers’ liability insurance

  • if you employ anyone else in your hairdressing salon, or in any other capacity to do with your business, the law requires (subject to a few rare exceptions) that you have a minimum of £5 million employers’ liability insurance;
  • this is to ensure that you are able to meet any claims from an employee – past or present – who suffers an injury or contracts a medical condition as a result of the work they have been doing or have done for you.

Who is hairdresser’s insurance suitable for?

Who is hairdresser’s insurance suitable for?

It doesn’t matter whether you are running a larger hairdressing business from your own salon, leasing the space you require or operating a mobile hairdressing service whilst visiting customers in their own homes, in any of these cases your business is likely to benefit from the protection of hairdresser’s insurance.

Summary

Summary

The average hairdresser is not earning huge profits and this might make the typical business especially prone to a number of common risks and perils – hairdressers insurance help to protect you from them.

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