Business insurance for a self employed beauty therapist is readily available from a range of providers but there are a few aspects regarding this type of insurance that you should be aware of before buying a policy purely based on price. The size and scope of the beauty industry today presents a number of issues for insurance companies as the activities and treatments that are undertaken continue to increase and diversify.
What sort of insurance does a self employed beauty therapist need?
The types of insurance needed by someone working in the industry, are like many other occupations, very much dependent on your own circumstances and how you operate your business. Do you work from home, are you mobile, do you own a salon? For now we will concentrate on the needs of the self employed therapist or beautician working from home.
Public Liability Insurance for a beauty therapist.
Probably the core and and most important insurance for anyone engaged in the beauty industry.
Public liability insurance protects the policyholders against claims made against them in respect of their legal liability for personal injury or property damage suffered by others arising during the course of the business. The policy pays for any awards made against the policyholder for compensation and very importantly meets the legal costs of mounting any defence in respect of a claim or potential claim.
Limits of indemnity under the policy are the maximum amount the insurance company will pay in the event of any one claim and levels of £1M £2M and £5M are readily available with higher limits available upon request.
Perhaps the most important aspect of any public liability insurance for beauty therapists is what is known as “the treatment risk” and this is worthy of special attention.
The treatment risk for Beauty therapists.
Many public liability policies carry an exclusion in respect of claims arising from the application of a treatment and it is vital that you obtain a policy that not only includes this cover but also includes it for the range of treatments and therapies you undertake. More information on this subject can be found on our treatment risks page.
“Claims made” policies and “claims occurring” policies.
This is of particular importance for beauty therapists, beauticians and anyone engaged in performing treatments on members of the public. The standard basis of settlement for claims under public liability policies is on a claims occurring basis, this means that the policy covers you for any occurrences or incidents that happened whilst the policy was in force. Some insurance policies in the beauty and treatment market are settled on a claims made basis, this covers you in respect of claims made only when the policy is in force. This can in fact leave you exposed to claims if you ever cancel the insurance policy. This is a fairly complex area of insurance but more information and guidance may be found on our claims made vs claims occurring page. You should be aware of the basis of any policy that you take out and certainly give careful consideration before moving to a policy that is written on a claims made basis.
Employers Liability Insurance for Beauty Therapists.
If you employ people in the United Kingdom you are legally required to hold and employers liability policy, this policy protects the policyholder in respect of their legal liability for personal injury and disease suffered by an employee and arising during their employment. The law states that your policy must have a minimum limit of indemnity of £5M but in practice insurers issue policies with a minimum limit of £10M. There are some exceptions to the legal requirement and these may be found on our main employers liability insurance page.
How much does the insurance cost?
This will depend on a number of factors, how many people work in the business, your experience, whether you have previously had any claims and most importantly the type of treatments and therapies you undertake. For most routine beauty therapies you can obtain an instant on-line quote but do check that the cover is suitable for your requirements. Whilst all this may seem quite frightening, the annual premium for the majority of self employed beauty therapists is under £100 per year.
How do I buy insurance for a self employed beauty therapist?
Cover is available instantly on-line, with a straight forward process that will take you under 5 minutes to complete or if you would prefer to speak to a broker you can call us to discuss your requirements and obtain an instant quote and cover.