Laser Hair Removal Center Insurance
If you operate a laser hair removal center, you’re lucky enough to be in a growing industry. In 2012, more than 900,000 people opted to get laser hair removal, and that number has increased every year since then. But before you start planning how to meet the higher demand for this service, make sure you have sufficient laser hair removal center insurance.
General Liability for Laser Hair Removal Centers
Running a laser hair removal center requires you to have the necessary equipment and furniture. But once in a while, those same important items may cause a patient to trip. Simply spilling any liquid substances you use in the center could also cause a patient to slip on the floor. Injuries like these can lead to expensive lawsuits, which is why you need general liability in your laser hair removal center insurance policy.
This type of coverage can also protect you and your center from the costs that come with lawsuits claiming copyright infringement, slander, or libel. Few owners of laser hair removal centers think to set aside money in case of such accusations, which is why liability coverage is so important to have.
Business Owners (BOP)
As useful as general liability is, it doesn’t cover everything. That’s why you also need a Business owners policy, or BOP. This covers any repairs your laser hair removal equipment might require due to a loss at your center so you do not have to pay out of pocket. The BOP can also pay for replacements that your center requires after being robbed or ravaged by a natural disaster. The coverage even extends to employee theft when you have Employee dishonesty coverage.
Professional Liability (E&O)
When you work with lasers on a daily basis, you need to make sure you have the right laser hair removal center insurance coverage. That means you need professional liability, which pays for any claims that are filed when your patients are injured. After all, there’s always a chance that an employee will make a mistake during the procedure, burning the patient’s skin with the laser. There is also a possibility for patients to experience unwanted side effects, leading to lawsuits in some cases. The professional liability coverage that comes with your laser hair removal center insurance policy will pay for such lawsuits, keeping you from being held personally liable.
Workers Comp Insurance For Laser Hair Removal Centers
Unless you are doing all the laser hair removal yourself, you need workers comp coverage for your employees. It will protect both them and your business in case they are injured. If they burn themselves with the laser while removing hair, or are injured in any other way while at work, the workers comp policy will pay for their medical treatment and lost wages while they recover. Without it, you would be left responsible for the expenses and penalized by the state for not following the law.
If you are ever faced with a lawsuit that requests more money than your general liability policy will pay for, you will need excess liability. This is umbrella coverage that kicks in when your liability limit has been exceeded. Without excess liability, you would have to pay for the extra costs, so it’s important to have this coverage on your laser hair removal center insurance policy.