Insurance for barbers

Are you a self-employed barber? Nearly half of all barbers are self-employed. When you choose to be self-employed, you have unique risks, requiring you to protect your business assets by purchasing small business insurance.

Depending on the state you are operating in, you may even be legally required to purchase small business insurance. If your state does not require you to have barber insurance, you still need to protect yourself by choosing one or more small business insurance policies that can cover the unexpected. Without business insurance, it is possible for you to lose your barber license and that is something you definitely do not want to happen.

Why barbers need business insurance

As a professional barber, business insurance covers you if one of your clients claims they have somehow been damaged by your business. Without insurance to protect you, you could be looking at paying thousands of dollars out of pocket. Small business insurance also helps cover the cost of legal fees, court judgments, medical bills, stolen equipment, damaged equipment, and lost income.

You need to choose the right insurance policies to cover the unexpected, so let’s go over the types of barber insurance will best protect your barber business.

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Professional liability insurance for barbers

Professional liability insurance protects your business when errors are made and the error causes someone else to experience harm. Some call it an errors and omissions insurance policy or malpractice insurance. Barbers really need to consider it because honest mistakes can happen from time to time. (No matter how much experience you have.)

Professional liability insurance covers: 

  • Legal defense costs
  • Legal settlement costs
  • Third-party damages

Let’s say one of your clients has sensitive skin and after shampooing his head his scalp broke out in a rash. Even though it is not your fault, a professional liability policy will pay for this client’s medical expenses, as well as a potential lawsuit settlement.

A professional liability insurance policy for barbers averages $42/month, or $504 per year.

Barber liability insurance

General liability insurance is one of your basic business insurances. It helps protect your barber business against claims of bodily injury or property damage.

General liability insurance covers: 

  • Bodily injuries
  • Property damages
  • Medical bills
  • Legal defenses
  • Legal judgments
  • Personal injuries
  • Advertising injuries

Here’s an example. You accidentally cut one of your clients and they need medical treatment. A general liability policy will help cover their medical bills. It will also cover the cost of a claim if the client decides to sue you.

A general liability insurance policy for barbers can cost as little as $25/month, which is only $300/year.

Barber workers’ comp

Workers’ compensation insurance is required in most states if you have employees, so be sure to check your state’s requirements to be sure you following requirements. A workers’ comp policy covers work-related injuries and illnesses. Without this policy, you would need to pay out of pocket for your employee’s medical expenses and lost wages. If they decide to sue you, then you would need to pay this out of pocket, too!

Workers’ comp insurance covers: 

  • Workplace accidents
  • Workplace illnesses
  • Lost wages
  • Funeral costs

Let’s say one of your employees complains about pain in their wrist. The doctor diagnoses them with carpal tunnel syndrome. A workers’ comp policy will pay for their medical bills, as well as their lost wages.

Barbers with no employees can pay as little as $63/month for workers’ compensation. However, the more employees you have, the greater your policy premium will be.

Commercial property insurance for barbers

Property insurance protects the building in which you do business, whether it is owned or rented. It also covers your business-related equipment, like your computer, blow dryers, clippers, and grooming chairs if they are damaged or stolen. It can also cover your lost income when an event prevents you from performing your barber duties.

Property insurance covers your property when it is:

  • Accidentally damaged due to a covered event – like fires, winds, floods, lightning, explosions
  • Stolen or vandalized

As an example: A windstorm breaks a window and damages some of your property. A property insurance policy will pay to replace the window, as well as repair or replace your damaged property.

A property insurance policy for barbers averages around $30/month, which is a mere $360/year!

Additional insurance policies for barbers

BOP insurance (also known as a business owner’s policy) combines general liability and property insurance to cover your business with the goal of saving money. Nice! Generally, a business owner’s policy might cost around $60/month.

Business auto insurance provides coverage when your business owns and operates a vehicle. Mobile barbers need business auto insurance.

Are you a home-based barber? You will need home business insurance.

A cyber liability insurance policy is more important than ever due to the high rate of cyber-attacks on today’s small businesses. If your barber business is hacked and all your important business information is stolen, cyber insurance will help you get through this unfortunate event.

Barber insurance cost

o two barber insurance policies are going to be the same as the cost of barber insurance depends on a few different factors, like the services you offer, your location, and your number of employees. If you’re running a popular local barber shop, you’ll pay more for insurance. If you’re just a barber renting a chair at a shop, it won’t cost as much.

Compare barber insurance quotes and save

Pogo compares quotes amongst 30 insurance companies to offer you the best barber insurance at the right price. Simply fill out our 3-minute form to get started.