Tuesday, 28 April 2020
While customers are your source of income, they are also one of your biggest risks. Your services offered, products applied or sold might have adverse consequences for some individuals.
Professionals such as hair stylists, therapists and make-up artists might encounter unsatisfied customers who can file lawsuits alleging malpractice or negligence of treatment that causes injuries.
With the reality that everyone experiences some form of stress in their lives – whether it relates to work, relationships or many other situations. More people are engaging in stress relief activities like yoga, meditation, personal care and beauty to achieve healthier, happier and more balanced lifestyles.
As a consequence, the health, beauty and wellbeing businesses have proliferated to meet such demand and to help enhance appearance, promote relaxation and alleviate stress – and many of them are busier than ever before. With increased customer activity, comes increased risk.
Who is it for?
Depending on your type of business, some health, beauty and wellness service providers may encounter more claims than others. Without appropriate protection, your business may experience significant disruption, which could severely affect your livelihood.
Let’s have a look at some of the industries that would require the beauty and wellness insurance:
- Aesthetic clinics
- Barbers
- Beauty & personal care salons
- Eyebrow threading centres
- Facial centres
- Gym or fitness centres
- Hair salons
- Health and wellness centres
- Image consultant and personal fashion stylist consultations
- Make-up centres
- Nail spa centres
- Pilates centres
- Reflexology centres
- Slimming centres
- Spa and wellness centres
- Sports and wellness centres
- Yoga centres
- And many more…
What is covered?
Some of the common business insurance coverage options included in the beauty and wellness insurance plan are;
| Cover type: | What is covered: |
| Fire | Covers damage to, or loss of, your business premises, equipment and furniture caused by fire, lightning and/or explosion. |
| Burglary | Protection against damage to your building, loss of goods and products in the event of a break-in and/or burglary of your business premises. |
| Money | Protect your hard-earned money, cheques or money orders kept in your business property against theft. Most policies will also cover against losses incurred whilst funds are in transit to the bank. |
| Plate glass | Get coverage to replace shattered glass doors or windows in showrooms, shops, offices or buildings with the plate glass insurance. |
| Public liability | Public liability insurance indemnifies you against legal liabilities to third parties should any accidents occur during your business operations. For example, if customers accidentally fall or slip in your premises, then this coverage will help negate some of the financial burdens. |
| Employer’s liability | Shields employers from any legal liability claims made arising from work related accidents or illnesses sustained by employees. |
| Fidelity guarantee | Covers financial losses due to fraud or dishonesty in the workplace committed by your employees. |
| Loss or damage of goods | Secure your goods against any loss or damage caused by fire, accident or theft. |
| Client’s personal effects | Covers the loss or damage of your client’s personal belongings. |
| Hospital cash | Protects you by providing daily cash payments during hospitalisation to help relieve financial stress. |
| Treatment risk | Protects you against compensation claims arising from your professional services. |
| Personal accident | Protect yourself and your loved ones by against financial burdens when confronted by accidents. These plans cover medical expenses and loss of income. |
| Infectious disease | When faced with specific infectious illnesses, such plans cover hopitalisation and treatment expenses. |
Ensure your business and future is properly protected by selecting the right insurance package for your business. As your businesses is unique, the standard proposed business packages may not have all the coverage you require. Instead, you can opt for additional riders or plans to fully secure your business.
Maintain your peace of mind by finding various packages easily most suited to your business at www.ibizcover.com.
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By: iBizCover.com
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