This is a sponsored guest post.
Why in the world would a self employed hairdresser not carry professional liability insurance to protect his beloved family, his clients, and the career that provides the livelihood that he has worked so hard to achieve? If there is no professional liability insurance from Insyncinsurance, you are at a risk that could cost you everything – even tax returns, future earnings, and your credit rating. It isn’t just responsible business sense to have insurance, it is part of being an ethical professional in the industry.
Purchasing liability insurance may be intimidating, especially if you do not know what to look for. Not all insurance policies are created equal, so it is important to understand what you are getting. When you start searching for liability insurance, there are 3 things to keep in mind.
1.Your Insurance Policy Must Cover Professional, General, And Product Liability – the number of things that may go wrong in the salon is difficult to deal with. Save yourself from the tension and get peace of mind knowing that you have insurance to cover your general, professional, and product liability for any mishap. If anything goes wrong during a service that you are able to provide because you are a licensed hair professional, professional liability insurance is for such claims. General liability insurance is for the falls, trips, and slips that may happen easily in a salon. Of course, there is product liability that kicks in when a client has an allergy or any adverse reaction.
2.Be Aware Of The Low-cost Liability Policies – circumstances are, they appear like a good deal financially as they possess a shared aggregate. Shared aggregate refers to that, though the policy holds that you possess a dollar 2 million safety net for the year, it is really the same dollar 2 million that is assured to someone else on a similar policy. When another professional on the policy of shared aggregate has a dollar 2 million payouts to an injured customer, that leaves nothing to save you, and policy is useless for the remaining year. Confirm the liability insurance contains an aggregate-you and only you.
3.There Are Two Types Of Liability Insurance Occurrence Form Insurance And Claims – Made Insurance. Claims – made insurance means the insurance company only has your back if you have a current insurance policy on the date the claim is made. Claims are filed rarely on the date the incident occurs, as it may take a lawyer years to file an official lawsuit. If you had an occurrence – form insurance but let the policy lapse as you stop working and one of your earlier customers files a claim against you, the insurance company will look at the claim and go back to the date that the incident happened. If you were insured on the date the incident happened, your occurrence form an insurance policy, even if now it has expired, will still go to bat for you.
Conclusion
We do not have insurance because we get up in the morning planning accidents. We take insurance because we do not know what anyone else is or is not planning. It is called an accident for a reason. Do not accidentally lose your career because you are not insured.
