If you’re wondering about the cost for insurance for estheticians, the simple, truthful answer is: it depends. How much an aesthetic insurance policy will cost depends on several factors. We can tell you that aesthetic insurance policies are affordable and can be customized so that you’re only paying for the coverage you need. We can also tell you that not having professional liability insurance coverage as an aesthetician could end up costing you everything if an injured or disgruntled client decides to sue – whether they have grounds to or not. So in other words, esthetician liability insurance is well worth the cost in the long run.
A Few Factors that can Affect Your Aesthetic Insurance Cost
Just like no two aesthetic businesses are alike, no two aesthetic insurance policies will be exactly the same. The following are a few factors that will impact your aesthetic insurance cost:
What are some types of treatments offered by aestheticians?
There are obviously higher risks with treatments such as:
- Dermal filling
- Laser-assisted lipolysis, laser tattoo removal, etc.
- Lasers, IPLs, and LEDs
- Registered massage therapy
- Restylane Injections
- Surgical procedures
- And other cosmetic procedures
than there are with services like:
- Hair services
- Makeup services
- Manicures / pedicures
What are some other factors to consider depending on the business type for aestheticians?
The amount of risk involved with the services you offer will have a direct influence on your business’s type of aesthetic insurance cost.
Professional Experience. It’s just a fact that the longer you do something, the better you get at it. An insurance company will generally tend to reward experienced aestheticians with lower-cost aesthetician insurance for this reason.
Insurance History. The longer you’ve been insured as an aesthetician without claims, the lower your rates will be for aesthetic insurance.
The number of employees on your staff. The more staff you have, usually, the higher your aesthetic insurance cost. Their level of experience also plays a factor here. On the flipside, if you are a single practitioner who rents out space in someone’s salon, your aesthetic insurance cost will probably be lower.
The amount of work you do. This is just the law of numbers, the more work you do, the more clients you serve, and the types of equipment you use, can all impact the likelihood that a mistake or accident will occur.
How can policy limits, deductibles, and the number of coverages impact aestheticians liability average cost?
The higher your policy limits, the lower your deductible and the more coverages you carry, the more you can expect your liability coverage cost will be.
The above list is not exhaustive and there are other factors that can come into play.
Get ALIGNED with an advocate who can help lower your aesthetic insurance cost.
Our brokers are not just commercial insurance specialists, we’re advocates who work on your behalf to get you the coverage and protection you need at rates you can afford. Contact an advocate today to discuss your esthetician insurance coverage needs or get started now by getting a quote online.