11 Things You Should Do In Salon Gold Insurance
From the Salon Gold Website “We believe that our aim is to supply clients with the highest quality products and the best service available on the market”. For more than 25 years they have been offering top quality insurance and free advice to over 25,000 companies mainly for beauty salons, hairdressers, fitness clubs and body shops. Their policy's include general and specific coverage as well as professional indemnity insurance cover for a wide variety of services provided. Their main business is in the UK but they also do businesses in Australia, New Zealand, USA, Canada, South Africa and Spain. Although they are based in the UK they do operate worldwide.
The business interruption type of insurance is aimed at salons which have been running for at least two years. The policies are available from various insurance brokers including HON, N&A, AIG and the major UK insurers. It can also be purchased independently although it's more likely to be purchased as part of a package for salon insurance from one of the larger insurance companies. This can sometimes help lower the cost of the premiums because of the extra expertise which comes with an independent broker. Although some salon owners might feel that getting separate quotes is an added expense there's no doubting the value of buying this insurance and knowing that you'll be covered if there's an unfortunate event such as a premature death or a big accident.
Other types of insurance products for salons include insurance products covering a premises and equipment. Many salon gold insurance companies provide policies which specifically cover equipment such as hair cutting machines and blow dryers as well as providing cover for the building itself. It's always a good idea to take some safety and security precautions when using these kinds of tools because they're not built to be easily repairable should something go wrong. However if they're fitted properly and the right protection has been installed they will provide a safe environment for your clients.
Another product available which is a must for all salons is business insurance products which protect employees and customers alike. This kind of cover provides protection for customers who suffer damage or injury whilst entering the premises of the salon and also helps to protect employees if they are injured whilst at work. In many cases business insurance companies won't insure salon gold insurance because it's considered to be a low risk activity. However as with most things it's highly advisable to check with your chosen insurance company to ensure that you're fully covered.
Personal accident coverage is another product which salon owners need if they want to safeguard their businesses against any unexpected circumstances. If a client suffers an accident whilst on your premises or while using any equipment on the premises, you need to have some way of paying for them to be taken care of without the salon losing out. Some of the products which offer personal accident cover include injury cover, compensation pay and temporary medical cover. These are normally only suitable for events which happen outside of the salon. For example if a client slips and falls in your beauty salon and breaks their leg, rather than needing to pay for treatment at a hospital, you could claim back any costs up until the time the injury heals.
One other product which is often overlooked is salon gold cover. If a customer comes into your salon and is dissatisfied with the services you've given them then they may decide to leave and this could mean that they leave with damaged or missing goods. To make sure that you're covered in the event of this happening you should take out this type of insurance. However, because this is a product which can be quite expensive, and unless you're a large salon, it's not always possible to acquire good enough cover to be fully covered by your existing salon insurance products.
If you are going to get salon gold business insurance then you should always ask your existing insurance company if they offer personal accident cover or public liability cover. If they don't, then you should look into whether you can get this included as an extra to your general salon business insurance products. It is possible for your insurance company to include this with your policy, but you will usually have to ask, and you may even have to pay more, to make it available.
It's worth remembering that even if you do decide to get salon gold business insurance, then you still need to remember that you still need to take out other insurance products to cover you for any legal expenses or claims which might arise from an accident. For example if you have employees that work for you then you might choose to include their legal expenses within your salon gold business insurance. However you should check the terms of your policy to find out exactly what their legal expenses are for and whether they're included within your overall cover. It's worth checking too, to make sure that you're not personally liable for any legal expenses and claims which might arise, so that you know what's covered and what's not. You may wish to consider including 'clerical' in your public liability cover too.
The business interruption type of insurance is aimed at salons which have been running for at least two years. The policies are available from various insurance brokers including HON, N&A, AIG and the major UK insurers. It can also be purchased independently although it's more likely to be purchased as part of a package for salon insurance from one of the larger insurance companies. This can sometimes help lower the cost of the premiums because of the extra expertise which comes with an independent broker. Although some salon owners might feel that getting separate quotes is an added expense there's no doubting the value of buying this insurance and knowing that you'll be covered if there's an unfortunate event such as a premature death or a big accident.
Other types of insurance products for salons include insurance products covering a premises and equipment. Many salon gold insurance companies provide policies which specifically cover equipment such as hair cutting machines and blow dryers as well as providing cover for the building itself. It's always a good idea to take some safety and security precautions when using these kinds of tools because they're not built to be easily repairable should something go wrong. However if they're fitted properly and the right protection has been installed they will provide a safe environment for your clients.
Another product available which is a must for all salons is business insurance products which protect employees and customers alike. This kind of cover provides protection for customers who suffer damage or injury whilst entering the premises of the salon and also helps to protect employees if they are injured whilst at work. In many cases business insurance companies won't insure salon gold insurance because it's considered to be a low risk activity. However as with most things it's highly advisable to check with your chosen insurance company to ensure that you're fully covered.
Personal accident coverage is another product which salon owners need if they want to safeguard their businesses against any unexpected circumstances. If a client suffers an accident whilst on your premises or while using any equipment on the premises, you need to have some way of paying for them to be taken care of without the salon losing out. Some of the products which offer personal accident cover include injury cover, compensation pay and temporary medical cover. These are normally only suitable for events which happen outside of the salon. For example if a client slips and falls in your beauty salon and breaks their leg, rather than needing to pay for treatment at a hospital, you could claim back any costs up until the time the injury heals.
One other product which is often overlooked is salon gold cover. If a customer comes into your salon and is dissatisfied with the services you've given them then they may decide to leave and this could mean that they leave with damaged or missing goods. To make sure that you're covered in the event of this happening you should take out this type of insurance. However, because this is a product which can be quite expensive, and unless you're a large salon, it's not always possible to acquire good enough cover to be fully covered by your existing salon insurance products.
If you are going to get salon gold business insurance then you should always ask your existing insurance company if they offer personal accident cover or public liability cover. If they don't, then you should look into whether you can get this included as an extra to your general salon business insurance products. It is possible for your insurance company to include this with your policy, but you will usually have to ask, and you may even have to pay more, to make it available.
It's worth remembering that even if you do decide to get salon gold business insurance, then you still need to remember that you still need to take out other insurance products to cover you for any legal expenses or claims which might arise from an accident. For example if you have employees that work for you then you might choose to include their legal expenses within your salon gold business insurance. However you should check the terms of your policy to find out exactly what their legal expenses are for and whether they're included within your overall cover. It's worth checking too, to make sure that you're not personally liable for any legal expenses and claims which might arise, so that you know what's covered and what's not. You may wish to consider including 'clerical' in your public liability cover too.
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