THE INSURANCES

When working independently in the field of aesthetics you will need insurance. Several options are available to you, depending on your situation: self-employed worker in a salon or at home, self-employed worker with her own premises or building, with or without an employee…. There are almost as many combinations of insurance types as business types. In all cases, you must take the time to analyze your needs and shop around for your insurance.

 

Business insurance

 

 

For Whom?

If you are self-employed, if you rent a room in a salon or in a commercial building or if you have your own building, you MUST have business insurance.

 

What does it cover?

Business insurance can include several types of protection that will protect your work equipment (chair, wax heater, magnifying glass, computer, etc.), your products (creams, wax, etc.), your furniture, in short everything material, but also your workplace, your loss of income, your liability in the event of damage caused to a customer and several other risks.

 

Your needs

When shopping around for insurance companies, it is important to draw up an exhaustive list of your professional activities (types of services offered) and the property you want covered. In short, you must draw up a list of your needs because all these criteria play an important role in the amount of your premium. For example, an institute that offers laser hair removal and micro needling services will not have the same insurance needs (and will not have the same premium) as a salon that offers basic hair removal treatments like waxing and classic facials.

 

 

Insurance when working from home

 

Is my home insurance enough?

You work from the comfort of your home, and you think you don’t need additional insurance, but think again, your home insurance is not enough. Home insurance protects you for your private life activities and not for your professional activities. The coverage for goods for professional use included in your home insurance is $2,000, which only really covers a portion of your equipment, not including your furniture and other equipment in your space.

 

How does it work?

It all depends on the insurance company you have; some will add an additional clause or annex to your present contract and adjust the amount of your premium. Other companies will make a contract specific to your business and your premium will be separate from your home insurance premium.

 

Civil liability

In addition, the civil liability of your home insurance only covers damage caused in the context of your private and non-professional activities. If you only have your home insurance and for example, a client has a reaction following hair removal, holds you responsible for the event and sues you, you will not be protected., so you will be in big trouble.

 

What else does it cover?

Insurance designed for your needs as an at-home esthetician can also cover you in the event of a loss of profit and operating loss. Example, a fire has destroyed your workspace and prevents you from working, certain insurance will offer salary insurance, or could cover the costs of temporary relocation.

 

In summary

When you work from home, you MUST have insurance for this purpose, both for the protection of your equipment, materials, goods, etc. in the event of a disaster but also to have protection for damage caused to a third party in the context of your work, civil liability, which covers you perfectly.

 

How to shop?

After having drawn up a complete list of your protection needs, it is time to choose the company to which you will entrust to insure you. Choosing an insurer can be difficult given the number of aspects to check, why not ask for help?

 

An insurance broker

 

An insurance broker works with several companies, so he can offer you insurance plans from different companies and evaluate with you what suits you best. The insurance broker is the insurance “professional”; he will guide you in your choices and will take care of your file if you make changes (such as the purchase of a new technological device) or if you need to make a claim. Not to be confused with an insurance agent who is only a salesman for a single insurance company.

 

At a discount?

An important fact when shopping for our insurance: this is not where you are going to save money, because often a less expensive premium rhymes with less coverage in the event of damage. So, try to choose insurance coverage that suits you and not just because it has a low price.

 

The requirements of an insurer

It is normal for your insurer to require that you meet certain requirements in order to limit certain risks, such as the installation of an alarm system, installation of sprinklers, etc. In all cases, these are conditions which generally lower the cost of your premium.

 

 

In conclusion

It doesn’t matter whether you rent a room in a building, whether you rent a cabin in a salon, whether you own the building that houses your institute or whether your salon is in the basement of your house, you MUST HAVE insurance. By having business insurance or an additional clause in your home insurance contract, you protect your business, and you protect yourself from events beyond your control (civil liability) which could completely ruin your career if you are not fully insured. Take the time to shop for your coverage, don’t look for discounts or a good deal, but rather find the product that suits you perfectly!