The work of an esthetician includes some risks, so taking out esthetician insurance can be an excellent tool to be protected against any eventuality.
Liability insurance has become a great indispensable when it comes to protecting the business. It will be useful if a client dissatisfied with your services opts for a lawsuit. But general liability and professional liability insurance will also be very useful.
If you do not have the proper protection, criminal action could destroy your reputation and the business you worked so hard to build. For the same reason, the main recommendation is to be shielded if you are a medical esthetician, waxing specialist, or skin care professional.
These are the best insurance companies for estheticians
By the number of insurance companies for estheticians on the market, it is necessary to know which ones are the best. Here is a list of the five most recommended by professionals in this area.
This is one of the best options since it guarantees coverage for 350 services, regardless of the field of esthetics in which you work. It is also known for its low NAIC complaints and excellent customer reviews. Netcams guarantee occurrence from coverage. This means the company charges the insured if their respective clients make any claims after the expired policy.
Associated Skin Care Professionals (ASCP) is a good choice, as it guarantees its users optimal product and general and professional liability coverage. But it also offers $6 million per member per year and $2 million per occurrence. The good news is that ASCP costs at least $259, so you’ll also enjoy coverage for advanced aesthetic services such as CoolSculpting and LPL.
3. The Hartford
The advantage of Hartford as an esthetician insurance company is that you can customize your service. Therefore, it is perfect for those businesses that have a staff. If you choose the business owner’s policy, you can enjoy commercial property, general, and product liability insurance. Hartford may offer workers’ compensation insurance if your business has employees.
Next is another esthetician insurance company that can help you in any complex situation. The best part is that it guarantees commercial property, workers’ compensation, professional liability, general liability, and commercial auto insurance policy. It has also become the perfect alternative for those estheticians who prefer to conduct transactions online. Premiums per year are in the range of $134.
5. Beauty and BodyWork
This is one of the beautician insurance companies to guarantee the most economical premium. Professionals must pay up to $96 per year, while students spend a total of $67. For the amount referred to, the insured will have at his disposal 3 million dollars for claims concerning general liability and 2 million dollars to cover any incident.
Types of insurance available to estheticians
You can choose these types of insurance if you are a beautician and want to be more protected.
1. Professional and general liability
General liability insurance provides coverage in case of accidents. This is the most appropriate option if such an accident damages property or a third party. But professional liability insurance is indispensable in case of accidents with injuries or property damage resulting from an unexpected event generated by the services rendered.
2. Product Liability
If your aesthetics insurance plan includes product liability, it is worth it. This policy is interesting because, as an esthetician, you will be using several tools to provide your services. These can be lost or damaged but also generate damage to yourself or others. If a client claims the use of any tool, be sure that this type of policy will act in your defense.
3. Liability for damage to rental property
Most esthetician companies operate leased premises. Generally, landlords have clauses in which the tenant will have to assume the expenses for damages caused to the property. In these types of cases, liability insurance against harm to the rental property comes in handy. If you do not contract this insurance, you will most likely have to pay the total amount for repairs out of pocket.
4. Identity Theft Protection
If a company has a web presence to promote its services, it also risks having its identity stolen. When something similar happens, owners invest a lot of money and time to solve the problem. But identity theft protection service is quite useful in such cases. Most insurers require $25,000 as a premium to be protected in this regard.
Insurance for estheticians is a big must-have if you have an esthetician business. There are many options, but you should choose the one that best suits your needs or basic requirements.