Salon
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The BOP (Business Owner’s Policy): Many insurers bundle General Liability, Property, and Business Interruption into one package called a BOP. It is usually much cheaper than buying them separately.
These three primary protections:
- General Liability Insurance: Protects against third-party claims for bodily injury (e.g., a customer slips and falls), property damage you cause to others, and personal/advertising injury such as libel or slander.
- Commercial Property Insurance: Safeguards the physical assets your business owns or leases, including the building, equipment, furniture, and inventory. It covers losses from events like fire, theft, wind, and vandalism.
- Business Interruption Insurance: Also known as Business Income insurance, this helps replace lost revenue and covers ongoing operating expenses (like rent and payroll) if a covered event, such as a fire, forces you to close temporarily.
Common Add-Ons (Endorsements)
While the core covers common risks, many businesses add tailored protections for their specific industry:
- Professional Liability: Protects against mistakes or negligence in the services you provide.
- Cyber Liability: Covers expenses related to data breaches, ransomware, and restoring computer systems.
- Equipment Breakdown: Pays for repairs or replacement if vital machinery or electronics fail due to mechanical or electrical issues.
What is NOT covered in the standard BOP Policy:
- Workers’ Compensation (typically required by law to be separate).
- Health, Disability, or Life Insurance.
- Flood or Earthquake Insurance (usually requires separate specialized policies).
Pro-Tips for Salon Owners & Barber Shops
- Independent Contractors:If you rent booths to stylists (1099), ensure your contract requires them to carry their own Professional Liability insurance and name you as an “Additional Insured.”
- Cyber Liability:If you store client credit cards and emails in a booking system, this protects you in the event of a data breach.
Workers’ Compensation
If you have employees (W2), this is legally required in almost every state.
- What it covers: Medical bills and lost wages for employees injured on the job.
- Examples: A stylist developing carpal tunnel syndrome or an assistant getting a severe cut from a straight razor.
Let’s get started with getting your Salon or Barber Shop a quote. Click here to start and I will be in touch after you finish and submit your Quote Form.
Debbie Ward, AAI
Agency Owner