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What insurance does a self employed beautician need?
Business Insurance
Small Business Insurance
Beautician and Hairdresser Insurance
Professional Services Insurance
So you’ve taken the step to go out on your own as a beautician. With your strong skill set and loyal clientele you’ve got a great foundation for a business where you can work your own hours and do the things you most enjoy.
You’ll also be discovering that running your own business involves more than just being great at what you do. There are so many business skills to learn, one of which is properly insuring yourself and your business to make sure that you and your clients are covered in the event of an unexpected incident.
But what type of insurance is right for you as a self-employed beautician? Can you buy an off the shelf small business solution and be covered for everything that you need? Let’s take a look at some of the essential types of insurance to consider, and how they might fit or not fit your business.
Public Liability Insurance for Beauticians
Public liability insurance covers you against claims made by clients or third parties for any injuries or damages they suffer as a result of your business activities. As a beautician, you may be liable for injuries or damages caused by your services or equipment, and public liability insurance can provide coverage for legal fees, compensation claims, and other expenses.
However, most retail Public Liability products exclude up to 90% of tasks for beauticians. Specialist tasks that beauticians do every day have highly specific risk profiles. Take for example waxing, where you are dealing with a hot substance applied to skin, or tinting, working with chemicals right next to the eyes and other sensitive areas. These sorts of tasks, as well as piercings, botox injections and more, may not be accounted for in a standard Public Liability product. You will likely require a specialist policy to ensure coverage as a self-employed beautician.
Keep in mind that if you hire premises, or sublet a room, your landlord may require a certain level of Public Liability Insurance as part of your rental or sublease agreement.
Business Equipment Insurance for Beauticians
As a beautician, you may have expensive equipment such as a massage table, waxing equipment, or a nail station. Business equipment insurance can provide coverage in the event of loss or damage to your equipment, which can help you get back to work quickly and minimise any downtime.
If you run a home based business your business assets and personal assets will usually need to be covered by separate policies.
Portable Equipment Cover for Beauticians
Mobile beauticians who transport their specialist and business equipment from place to place should also consider portable equipment cover. Portable Equipment policies can cover your equipment when you are on the move in case of theft, fire, water, impact, malicious damage and more.
Mobile beauticians who transport their specialist and business equipment from place to place should also consider portable equipment cover. Portable Equipment policies can cover your equipment when you are on the move in case of theft, fire, water, impact, malicious damage and more.
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Aimee Henderson
If I’m self-employed am I covered by Workers’ Compensation Insurance?
As a self-employed beautician, you're responsible for your own well-being. You also rely on your income to pay bills and maintain your lifestyle. The right insurance can provide a safety net to cover your expenses while you're unable to work due to accident or illness.
As an employee you may have previously been covered for on-the-job accidents by a Workers’ Compensation Policy taken out by your employer. However, any Workers’ Compensation Policy that you take out now that you are self-employed will only cover certain employees you take on, and won’t cover you or a business partner for accidents or illness.
A suitable alternative may be a Personal Accident and Illness policy or an Income Protection Policy. These may help cover you for loss of income for a period of time. Be sure to ask what percentage of your wage you will be entitled to. Optional extensions may also cover business expenses and rehabilitation costs as well as lump sums for disability.
An advantage of Personal Accident and Illness policies and Income Protection policies is that they are not limited to work-related injuries.
So how do I know what insurance I need as a Self-Employed Beautician?
As a self-employed beautician, it's important to protect yourself and your clients by having appropriate insurance coverage. Public liability insurance, equipment insurance and personal accident or income protection insurance are all essential to consider and you may require specialist coverage.
There will be other insurance products that may also be relevant such as Business Interruption, Cyber Insurance, Professional Indemnity Insurance and Product Liability Insurance.
To work out exactly what sort of coverage you need, reach out to us at Grace Insurance. We have helped many other self-employed beauticians, just like you, and will be able to determine the right package for you and your unique needs.
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.
All information above has been provided by the author.
All information above has been provided by the author.
Aimee Henderson, Grace Insurance, ABN 63 133 156 742, AFSL 233750
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