An Insider’s Look: How Much Does Esthetician Insurance Cost?
When you start looking at your options for esthetician liability insurance, normally the price of the policy is pretty high up on your list. Today, the costs of insurance are more important than ever and what you get for what you pay is something that far more people are paying close attention to.
Today’s spotlight is on the real costs of esthetician insurance and how to score a solid policy with lots of benefits, while still getting a good value.
How Much Insurance Do Estheticians Need?
The first stop on your journey to finding an insurance policy that covers you adequately and at a great price is to examine how much coverage is required. Depending on your situation, you may be looking at smaller limit policies to take care of any unfortunate events that might arise. However, we’ll show you how this is a bit of a dangerous game.
Lowering your policy limits to less-than-ideal points is a sure fire way to end up with less coverage than you actually need whenever a claim event occurs. Your insurance policy is supposed to act like a safety net so that you can practice with confidence. If you immediately set out to find a cheap policy with low coverage limits, you’re leaving the fate of your career up to chance. For a solid long-term action plan for protecting yourself in the business of beauty, it’s a far better investment to sit down and examine all your coverage options.
As you compare esthetician insurance programs, you’ll see that not all insurance plans are equal. Some carry special provisions that limit coverage, others make you pay more for a service you love providing. To make sure you’re getting a great value for the investment in the insurance policy, you should take some time to understand what the policy is all about.
What Esthetician Insurance Covers
Esthetician insurance is in place in the event that an accident or injury occurs where you, the beauty professional, carry a liability to pay for making things right. When an incident occurs, unfortunately the lawyer’s ads running endlessly on TV cause many people to decide to pursue legal action from the get-go.
A good esthetician insurance program is made to protect skin-care professionals from the costs of the claim and any legal defense fees that are necessary. A truly superior insurance plan goes on to cover other common areas of risk in the beauty industry.
In a well-rounded insurance plan, you should find the following coverage and protections in place:
General liability coverage: this important coverage is the pillar in most insurance plans for professional estheticians. That’s because it’s one of the most common types of liabilities you’ll face. General liability presents itself as soon as you open your doors and offer services. You’ve probably already heard of this coverage type as “slip and fall insurance”. This nickname stems from the all-too-common slip and fall injury that can utterly ruin your business and personal finances in an instant.
A slip and fall injury may not seem that serious, but every year there are thousands of slip and fall injuries in businesses and on-the-job. That’s why Beauty Insurance Plus includes up to $2 million per occurrence for general liability claims.
Professional liability coverage: the other mainstay you (should) see in esthetician insurance is professional, or “malpractice”, insurance coverage. This type of coverage is important since it pertains to claims for injuries or property damages that come as a result of the actual services you’re providing. If you’re providing a waxing treatment, a very common injury is a burn from wax that’s too hot. When a burn is severe, it can require emergency medical treatment, hospital stays, surgery, and more. Adding up all the costs of even one unfortunate event like this is why smart coverage choices like our esthetician insurance program come with all the way up to $2 million per occurrence.
Product liability coverage: another crucial liability coverage that not every esthetician insurance program carries is product liability coverage. As an esthetician, you'll be using all kinds of different products, chemicals, dyes, and more to pull off the perfect skin care regimen or service. If a client has a bad reaction to a product you use, they may hold you liable for paying all their costs. Medical bills, lost wages, and more is why our program includes $2 million in total protection for product liability claims.
Rental damage protection: almost every esthetician either rents booth space from a salon or has their own lease in place to offer services to clients. When you’re renting space, you can be held liable for any damages that occur during your rental term. If you spill chemicals on your salon’s floor that causes damage and requires repairs, without rental damage protection, you can be left footing the repair bill out-of-pocket. That’s why our esthetician policy includes coverage for this, with a $100,000 limit in place.
Identity theft protection: with everyone leaning on online services more than ever before, not having identity protection is like driving down the freeway blindfolded. As a Beauty Insurance Plus member, you’ll get all the way up to $25,000 to help restore your identity if it’s ever compromised.
Stolen equipment coverage: you rely on the tools of the beauty trade in order to give clients a great service and great experience. If these are stolen in a robbery by force, you could be left without the tools you need to earn a living. Supporting our members is what we do, which is why we include up to $1,000 with a $250 deductible to help cover the cost of replacing your equipment.
These coverages are designed after many years in the business of providing a tailored insurance program for beauty professionals. Despite the high level of coverage, our policy is made with affordability in mind. Offering the most inclusive liability insurance at some of the best rates in the industry is just what we do.
Providing These Services Could Cost More
You need to be mindful of what services are covered by esthetician insurance. For whatever reason, a lot of insurance programs out there make it hard to see exactly what’s covered. Today’s estheticians are offering a suite of different options for clients in order to stay competitive and best meet the needs of local clientele.
Your esthetician insurance program shouldn’t hem you in, but unfortunately many will only cover a select few services only to charge an additional fee to cover anything you want to offer beyond that. Worse, some may not even provide the option to add the services and just not cover them altogether - leaving you without any coverage for a particular service.
At Beauty Insurance Plus, our esthetician insurance policy provides coverage for hundreds of different beauty services so that our professionals don’t have to worry about coverage when they’re trying to provide great service to clients.
Getting Extra Benefits with an Insurance Policy
Everyone loves getting something for nothing, maybe it’s built into our DNA, but we all love a good deal. Adding a lot of value to your esthetician insurance plan is the member benefits that are included. This is another area where you may find certain insurance plans are particularly lacking.
Beauty Insurance Plus provides a member benefits program worth hundreds of dollars all by itself and is designed to be something that members will actually use. With our program, members get free beauty publication subscriptions, a free professional website, exclusive discounts, and more.
How to Compare Estheticians Insurance Options
Some may find it odd that we include a comparison grid for beauty professionals to check out our insurance program side-by-side with the leading competitors. We’re confident when you see how we check out, you too will join the hundreds of beauty pros that have rated our coverage plan so highly.
Looking at the comparison grid, the first thing that may stand out to you is the price right up top. That’s because BIP isn’t the cheapest on the list. But coming in at number 2 is actually okay with us. That’s because the cheapest option doesn’t carry near as much coverage as our plan leaving a member taking a gamble with having adequate coverage should an event ever necessitate a claim.
Bottom line and as we’ve said before, don’t judge based on price alone. At just $159 per year, our policy includes thousands of dollars of additional coverage options to provide the best all around protection possible.
Paying Too Much For Estheticians Insurance?
If you’ve been looking at how much esthetician insurance costs and realizing you’re overpaying, it’s okay! We help members get the kind of high-value insurance policies that actually provide accessible benefits.
Our program provides professionals with the security and peace of mind to provide their very best at their jobs of helping clients look as great as they feel. With an easy online application, you can get a great insurance policy at a great price in just a few minutes.