Insurance for estheticians
As an esthetician, you are a skin care expert. Your job is to evaluate your client’s skin and then offer advice to improve their overall skin condition. Treatment options might include facials, chemical peels, salt scrubs, waxing, eyebrow shaping, hair removal, and microdermabrasion. While your goal is to help your clients look and feel wonderful, you also need to protect yourself from the what if? That’s where esthetician insurance comes into play.
Whether you have a solo esthetician business or employees, you need to protect yourself with small business insurance. Licensed or not, this important investment protects your small beauty business, giving you the peace of mind that you need to professionally perform your job.
Types of esthetician insurance
There are risks associated with being an esthetician. Accidents can happen at any time. Whether you work at home, at a spa, a beauty salon, or a fitness center, you need insurance protection. In order for you to protect yourself and your business, you need to buy the right types of insurance.
Professional liability insurance for estheticians
Professional liability — also known as e&o or malpractice insurance — is a necessary insurance policy. It protects you against any claims that you made a mistake while performing your esthetician services. Even if you did not technically make any mistakes, clients can still sue you and if they do, you will be responsible for legal fees and medical bills.
Professional liability insurance covers:
- Claims against negligence
- Professional errors
- Failure to deliver promised services
- Claims against personal injury
Let’s say you provide a skin care service that results in your client experiencing a permanent scar. A professional liability insurance policy will cover the costs related to the injury.
Or, you apply wax to a woman’s upper lip that is too hot, which burns her. The client can sue for mental distress and bodily injury. Queue professional liability insurance.
Here’s another example: you’re applying a facial treatment on one of your clients, and there is a bad reaction, which causes slight scarring. If the client sues you, professional liability insurance can protect you from that claim.
Professional liability insurance for estheticians averages around $37/month, or $444/year.
Esthetician liability insurance
General liability insurance is another necessary insurance policy that provides you with accident lawsuit coverage. Without a general liability insurance policy, you are the one who is responsible to cover medical bills, repair costs, legal fees, etc.
General liability insurance covers claims for:
- Third-party bodily injury
- Personal injury
- Property damage
Let’s say something gets spilled on your client’s handbag and gets damaged. General liability insurance pays to repair or replace your client’s handbag.
Esthetician general liability insurance averages around $33/month, which amounts to $396/year.
Workers’ comp for estheticians
Most states require workers’ compensation insurance if you have one or more employees working for you. If you do not have any employees, you can look into your options for purchasing workers’ compensation insurance to protect yourself.
Workers’ comp insurance covers:
- Workplace injuries and illnesses
- Lost wages
If your employee experiences a chemical burn, you would responsible for covering their medical bills and lost earnings without this policy. But with workers’ comp, it’s taken care of.
As an esthetician with no employees, you could pay as little as $63/month for workers’ comp insurance.
Esthetician property insurance
Commercial property insurance covers you when you experience damage to your property. This includes everything from small inexpensive supplies to large expensive tools and machines.
Property insurance covers:
- Damage to your property due to a natural disaster or theft
- Replacement or repair costs
Let’s say a fire happens that in turn causes sprinklers to go off. A property insurance policy will pay for both the fire damage and the water damage done to your property.
Property insurance for estheticians averages $30/month, which is only $360/year.
A business owner’s policy saves you money by offering you two insurance types – general liability and commercial property – under one convenient insurance policy. A BOP offers more coverage, and at a lesser price than purchasing each policy on its own.
BOP insurance covers:
- Claims against you related to third-party bodily injury
- Claims against you related to property damage
- Claims against you related to advertising injuries, like libel or slander
- Damaged equipment or inventory
How much will a BOP insurance policy cost? It depends on things like how many insurance coverages you choose, where you are located, how risky your business is, and whether or not you have filed any insurance claims in the past.
Estheticians typically pay around $78/month for a business owner’s policy, which is $936 annually.
Cyber liability for estheticians
Cyber insurance is more important than ever for today’s small business owners. According to the US Small Business Administration, small businesses are especially attractive targets because they have information that cyber criminals want, and they typically lack the security infrastructure of larger businesses to adequately protect their digital systems for storing, accessing, and disseminating data and information.
Cyber insurance covers:
- Customer notification
- Identity theft
- Credit monitoring
- Reputation management
- And more
Here’s an example: You are having difficulty accessing your business information on your computer because of password problems or see that some of your files have been deleted. A cyber insurance policy will help you get back on track, as well as help pay for your financial losses.
A cyber insurance policy can cost as little as $41 a month.
Umbrella insurance extends your liability limits, giving you better protection against potential claims.
Esthetician insurance cost
Wondering how much you will need to pay in insurance costs? It depends. Where are you located? What is the size of your business? How much coverage do you need? Lastly, what are the risks associated with your business? The answers to these questions and more will determine how much you will need to pay to protect your beauty business.
Looking for cheap esthetician insurance? We can access top insurance companies to find you the best price–at no extra cost.
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