Today’s salon professionals are being asked to be more flexible than ever before. For most beauty pros, that means needing to rent booth space—sometimes at multiple locations. Booth rentals are an incredibly economical way to reach more customers by providing the services you love, in the locations of your choosing. There are many reasons why this arrangement can be advantageous, but without booth rental insurance, long-term success is at significant risk.
Our Beauty Insurance Plus spotlight is pointed right at booth rental insurance to see what all it covers and why any beauty professional renting space needs this vital coverage in place.
What is Booth Rental Insurance?
As someone who rents booth space within a salon, you are probably categorized as an independent contractor rather than an employee. Independent contractors enjoy the freedom of setting their own schedules, choosing what services to provide, which clients to cater to, and most of the other decisions concerning their business operations. With this autonomy also comes the burden of having liability.
Yes, But Don’t I Have Insurance Through My Salon?
True, some salons may offer a small amount of insurance but in most cases, this amount is part of a shared aggregate meaning others on the policy can potentially use up the policy’s limits in a given term before you. Having marginal insurance coverage, if any at all, is not a very comforting feeling in an industry where you’re relying on sharp instruments, hot irons, chemicals, and other potentially dangerous tools, not to mention, working around sensitive areas. So, in walks booth rental insurance. This type of insurance is your personal safety net.
Individual Insurance for the Best All-Around Protection
With Beauty Insurance Plus, our booth rental insurance policy’s coverage, limits, and benefits are solely for the use of the individual policyholder. That means that every dollar of the policy is available when you need it. No one likes to think about an accident and most professionals are extremely conscientious about their client’s safety during a session. But the simple fact remains that accidents can and do happen everyday.
Even for cosmetologists that have years of experience, all it can take is a client slipping on some spilled product at your station to suddenly be facing a liability claim. Booth rental insurance is protection for the long-haul, designed to follow a beauty professional wherever their career leads.
What Insurance for Salon Booth Renters Covers
Insurance for salon booth renters covers the most likely areas of risk facing beauty professionals today in the form of liability, as well as includes additional safeguards for the best all-around protection.
The three biggest forms of liability coverage present in a booth rental insurance policy are:
General liability coverage - also known as “slip and fall” insurance, general liability covers the costs of property damage or injuries to third-parties that happen around your place of business i.e. the booth you’re renting. A client that slips on the hair you forgot to sweep around your chair may be badly injured in their fall. Their medical bills, lost wages, legal fees, and other costs might be tallied in a lawsuit. With booth rental insurance, you’d have all the way up to $2 million per occurrence for a claim like this, including any necessary legal defense fees.
Professional liability coverage - this coverage is also referred to as “malpractice insurance” because it covers the actual beauty services you provide. When a client is injured or their property damaged as a result of their getting a beauty treatment, they may file suit in order to recover their costs. Like general liability, you’d have all the way up to $2 million per occurrence to cover the costs of a claim like this one.
Product liability coverage - having a diversity of product options is great for showing clients you know your way around the best treatments for their desired service. But using a lot of different products also carries risk. If a client has a bad allergic reaction, they may hold you, as the service provider, responsible for all of their costs. That’s why our insurance for salon booth renters also includes up to $2 million per occurrence for claims related to product liability.
Now, seeing that you have great coverage for the above liabilities might make you stop right there, but there’s other protections you need to look for in a comprehensive insurance policy including:
Rental damage coverage - renting booth space, at its very essence, involves a rental agreement between the beautician and the salon owner. Almost every rental agreement includes a clause about who’s responsible for fixing any damages to the rented space. Even if it doesn’t, the salon owner can still hold you responsible and make you pay for repairs. Since this event is all-too-common, our all-inclusive plan provides all the way up to $100,000 to cover the costs of repairs to a rented booth space.
Stolen/damaged equipment coverage - cosmetologists rely on the tools of their trade to create the perfect look. These tools are an indispensable part of the overall client experience. So, when a robbery by force leaves you without the tools you need to provide beauty services, having to foot the bill yourself can be an incredible burden. That’s why we include $1,000 worth of coverage with a $250 deductible to help restore what was lost.
Identity protection - today’s beauty professionals have to rely on the web to provide services more than ever before. Running payments, having a social media presence, and more all simply expose you to a greater risk for a cyber incident. When your identity is compromised, it can be incredibly costly and quite time consuming to repair. That’s why we include $25,000 worth of identity restoration services with every booth rental insurance policy.
With all of these protections in place you can have absolute peace of mind knowing your career really is covered through all the twists and turns of life. You’ll also enjoy full-portability which means you can provide services in different locations, even different states, and your policy follows you every step of the way.
Additional Benefits to Having Booth Rental Insurance
Great coverage and awesome protections are great but in order to get a really good value for the investment, we believe policyholders should receive additional benefits. That’s why we’ve gone to great lengths to partner with some of the very best names in beauty in order to put together a benefits package that’s worth hundreds of dollars all by itself.
Our members enjoy a free and professionally-designed website for marketing their services, a free subscription to a beauty magazine, discounts, early-access deals, and more. We know insurance is vital for your career but want to make our plan the very best value it can be for our members. Our benefits plan was designed to provide a great number of resources to support the entire career of a cosmetologist.
Why Insurance for Hairdressers Renting a Chair is So Important
Hairdressers may have read this far and be thinking, “do hairdressers really need insurance?”. Well, just like any beauty professional, be it hairdresser, manicurist, make-up artist, or otherwise, insurance is still just as vital for long-term success in the beauty industry. That’s why we created a policy that covers hundreds of different services all at once. Be free to offer what you’re really good at without having to worry about whether a given service is covered or not.
Some plans out there only cover a few core beauty services, making you have to pay extra to add others, or just not covering them altogether. Our plan was designed for the real world beauty pros actually operate in, which is why we cover a plethora of beauty services under one all-encompassing booth rental insurance plan.
Getting the Best Deal on Booth Rental Insurance
Everyone likes getting a great deal and the same applies for insurance. We’re so confident in the combination of great coverage and affordability of our plans that we include a side-by-side comparison of our plan alongside other leading competitors. See how our plan stacks up and pay close attention to how much booth rental insurance costs as some plans include additional membership fees or other costs.
For just $159 per year, you can get an all-inclusive both rental insurance policy from Beauty Insurance Plus—that’s less than $0.50 a day for complete peace of mind.
How to Get Booth Rental Insurance Online in Minutes
The great thing about insurance for salon booth renters from BIP is that it only takes a few minutes to sign up. Simply fill out an easy online application, check out, and that’s it. You’ll enjoy complete coverage and full access to all of your benefits and plan documents.
We know you already have enough to worry about and think your insurance shouldn’t be one of them. Contact our team today with any questions and see why so many cosmetologists trust Beauty Insurance Plus through every step of their careers.