Insurance for Barber Shops
As the owner of a barber shop, keeping your customers happy and providing the service levels they expect are the most important duties of each day. Whether your shop is a small main street location or an up-and-coming specialty boutique in the heart of the business district, service is the key to operating your business effectively. Having barber shop insurance is a critical component to ensuring everything continues operating smoothly for your business, your employees and your customers even when disaster strikes. Barber shop insurance helps protect you against fire, theft, lost income due to emergencies and even employee dishonesty in the unfortunate event that you ever have to experience such a problem.
There are several aspects of business insurance coverage that can specifically help you as a barber shop owner.
General Liability Insurance
General Liability insurance for a barber shop helps cover your business and shop in the event of an accident or injury. For example, if one of your customers slips on the floor and injures themselves, or they claim that one of your employees damaged their image by cutting their hair wrong then general business liability insurance helps protect you in these unfortunate but common types of cases.
General liability insurance may also protect you against claims or damages as a result of your business advertising campaigns, or the products you use in the course of your business operation.
Business Owners Policy (BOP)
A business owners insurance policy combines general liability with a number of other important commercial coverage levels for your barber shop. Some of those include business property coverage, identity theft recovery and employee dishonesty.
Business Personal Property
Business property insurance helps protect your business personal property such as your equipment, furniture, computers, televisions, signs and so forth in the event of a fire, theft, vandalism and water damage. An additional endorsement can be added to your policy to protect your barber shop against the loss of income caused by various events such as the ones mentioned above. This insurance coverage also helps you pay the rent on a temporary location until your regular shop is back in full working condition. Property insurance can also protect you against general equipment failure such as air conditioner outages or computer break downs.
Identity Theft Recovery
As a successful small business owner you may be more at risk of identity theft, and this in turn can put your business at more of a risk as well. Identity theft can cause you to become ineligible for business expansion loans, equipment rentals or other professional services your shop needs.
In the unfortunate event that an employee in your barber shop is found to have taken money or property from your business, employee dishonesty coverage can help you to cover the losses.
Workers comp insurance helps your barber shop and its employees through the difficult period following an on the job injury. This coverage also works towards getting your employees back into shape and back to work as quickly as possible.