You likely have a substantial amount of money invested in your salon and barber shop equipment, including chairs, dryers, sinks, and product inventory. Damage from severe weather
, electrical outages or brownouts, fire, vandalism, and criminal break-ins could be devastating to your business’ survival.
Apart from the physical structure of your business and its contents, your expertise and that of your staff is the most valuable asset of your business. If people can’t perform due to health or disability issues, your business may suffer.
Consider Commercial Property Insurance that not only covers damage to your building and furnishings, but also your products, computers, point of sale terminals and other equipment you need to keep your salon or barber shop up and running.
Adding Business Income Coverage can help cover the loss of income due to covered property damage caused by an unexpected event, like a fire. It can help you meet ongoing financial obligations such as rent and payroll if you have to close up shop for a period of time.
Most states require that businesses carry workers’ compensation insurance for their employees. This type of insurance replaces wages and pays for medical care for employees injured while on the job – in exchange for agreeing not to sue their employer.