What You Should Know About Microblading Salon Insurance
Owning a microblading salon means that you have to be good at juggling multiple tasks on the go.
First, you’re doing all the hard work of attracting clients and keeping them happy. Then you’re managing staff, overseeing equipment maintenance, and then balancing the books. And that’s before we’ve even talked about the actual microblading.
Over the course of a day, anything can happen at the microblading salon.
Having the right level of insurance coverage can go a long way towards helping you protect your microblading business.
The 3 Types of Microblading Salon Business Insurance You May Wish To Consider
1. Commercial General Liability Insurance
Commercial general liability insurance is most commonly associated with the bodily harm or property damage that can occur as a result of a slip and fall. But that being said, the liability coverage can also extend to false advertising claims, libel and/or slander.
Because customers are physically going to your place of business to get their microblading done, there’s always a chance that an accident could happen. And if there’s one expense that you don’t want to be stuck paying for out-of-pocket, it’s the legal fees associated with defending yourself against a lawsuit even if you’re ultimately not found liable.
Commercial general liability insurance policy can help you protect your microblading business financially from litigation-related expenses.
2. Property Insurance
This insurance type provides coverage for damages that are done to your building by an insured peril.
Although this isn’t something most microblading business owners think about on a day-to-day basis, your microblading salon could sustain serious damage in the blink of an eye.
A fire could break out and leave serious burning and smoke damage in its wake. Depending on your location, an unsteady driver could slip on some ice and drive through your building. In any of these scenarios, the cost of equipment repairs and restorations may be quite expensive.
Property insurance policy can protect you in these sorts of scenarios.
3. Business Interruption Insurance
If your building is undergoing post-fire or post-flood repairs, it may not be feasible to continue doing microblading business out of your salon.
But at the same time, the unfortunate reality is that your personal and professional bills won’t stop coming just because your microblading business is out of commission. Most insurance policies will compensate you for damages specific to what has been physically damaged, but without business interruption insurance they won’t compensate you for those lost revenue and profits.
Business interruption insurance policy can help mitigate the cash flow concerns associated with not being able to work while your beauty and microblading salon is recovering from an insured peril. This makes it a coverage option that may pair quite nicely with property insurance.
The Reason Why You Should Hire an Insurance Broker
At the end of the day, insurance policies can have major implications for your microblading salon. Slip and fall lawsuits or equipment repair costs after fire damage can be very disruptive to a company’s cash flow. That’s why it’s important to get the right type of liability insurance as well as the right amount.
Interested in learning more about microblading salon business insurance? Contact your ALIGNED broker today or use our online tool to get a quote in minutes. We’re here to help!