Start your year with a FREE salon insurance health check and save up to 20% on your premium!
Although confidence is starting to slowly return as COVID-19 restrictions are gradually removed, many salons are understandably uncertain as to what 2022 will bring.
This hasn’t been helped by the number of cancellations in January being well above the norm. The Office of National Statistics says that in the first week of the year, 16% of companies reported "an increase in cancellations from customers over the last month," but this rises to 50% for service providers such as hair and beauty salons, where some have had up to seven cancellations in one day alone.
More positively, following the end of Plan B COVID-19 restrictions, employees have started to return to offices and high street footfall has begun to return to a normal rate.
Salon owners of all sizes are advised that this is the best time to get an insurance health check as part of their overall admin catch up. As well as being the quietest time of year, it's important to keep abreast of any changes in the insurance industry as it reacts to the pandemic.
SME Insurance (smei), the preferred insurance broker for Good Salon Guide members, offers a free no-obligation health check to help salon businesses stay tip top by ensuring all the correct insurance policies are in place.
Using a broker with industry knowledge will ensure you get the right protection for your business. They will also keep you up to date with information on broader industry and general insurance trends. Shopping around will invariably lead anyone to the cheapest deals, but sadly these are often a false economy, offering a 'broad brush' approach that doesn't cover every eventuality, potentially leaving salon owners further out of pocket in the long run.
By making the most of the quiet start to this year, salon owners can instead take their time, invest in proper research, and ensure they have the best protection possible, starting with:
- Public liability insurance protects you if someone claims for an injury at your salon or their possessions get damaged in any way.
- Products liability insurance covers you against any claim against the products used causing damage or injury and protects you in case your own salon or belongings are damaged in some way.
- Professional indemnity insurance covers any financial loss resulting from a claim against the professional advice you offer or a member of your team. This is slightly different to accidental damage, so it does require a separate policy.
- Employers’ liability insurance is a legal requirement if you employ a team of people. It protects you and your business if one of your staff gets ill or is injured at work.
In addition to this, your broker can assess whether changes in your business operations require additional cover – for example, cyber cover for increased online traffic and payments or transit cover for deliveries or remote working.
A FREE, no-obligation insurance health check will ensure you and your business are protected from potential liability claims and any associated costs involved. You could also save yourself over 20%.
Find out more here or by calling 0113 396 0344
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The Good Hairdressing Guide Limited is an Introducer Appointed Representative of Marsh Ltd and Marsh Commercial is a trading name of Marsh Ltd. Marsh Ltd is authorised and regulated by the Financial Conduct Authority for General Insurance Distribution and Credit Broking (Firm Reference No. 307511). Registered in England and Wales Number: 1507274, Registered office: 1 Tower Place West, Tower Place, London EC3R 5BU.