Insurance

[michelleb1133]

iv recently had a couple of quotes...ready for when i set up my salon, the cheapest ive had is just over £30 a month for public liability up to 10 mill, also covers stocki and various other things. Just wondering what kind of prices every1 else has been quoted, and who the good companies are x

 

[The Guild]

iv recently had a couple of quotes...ready for when i set up my salon, the cheapest ive had is just over £30 a month for public liability up to 10 mill, also covers stocki and various other things. Just wondering what kind of prices every1 else has been quoted, and who the good companies are x

If you want any information on what the Guild can offer, take a look at Beauty Guild : Home - Beauty Guild, or give us a call on 0845 2177 383.

 

[Miss Pink23]

I am with Salon Gold and pay £44.10 for A YEAR, so £30 for one month sounds a lot. It is different for a salon as I am mobile, but still sounds steep to me. Here's the link to get a quote from them:

Hair and Beauty Salon Insurance Quotations

 

[Just Hair Ins]

Hi, the premium depends on a number of factors: -

- What services the Salon offers & whether any of these are outsourced
- Number of qualified stylists/ beauticians
- Total number of staff/ employees
- Stock/ contents/ tenants improvements insurance values
- Post code
- Security of premises
- Claims experience

Complete our online enquiry form (Click REQUEST A SALON QUOTE) and we will provide a FREE quotation.
Insurance for Hair Salons & Barbers

Good luck with the business.

 

[trozzina]

Hi,

Yes, I agree, if it's just your professional indemnity then you should be looking at around £50 a year - I get mine through the FHT.

It sounds like you're looking at premises though. I have an amazingly good deal with Aviva but I got it through brokers - the Jelf Group(www.jelfgroup.com) and I pay £206 a year. That covers public liability, stock, loss of earnings etc etc etc AND buildings insurance for both me and the flat upstairs. I can't recommend them enough as I used to pay double that just for the buildings with nothing else. I use their Reading office but they'll cover the whole of the country.

Whatever you do, do shop around and remember to read the small print!

Good luck!

 

[michelleb1133]

Well to cut a long story short. Im renting a room above a hairdressers. The buildings already covered by the owners insureance, i would just need it for personal indeminaty ins and cover for stock, loss of earning etc

xx

 

[trozzina]

In that case I think I'd talk to your professional body as they should be able to provide great value professional indemnity. It usually includes Public Liability also although I would definitely talk to the owners as their insurance, esp if a shop policy, may include public liability already. You should only be paying £40-£60 ish for the whole year.

WRT stock I'd again talk to the owners; they may have it covered already or they may be able to include you for a nominal extra sum. This may also cover you already for loss of earnings (by this I mean if the place burnt down).

Critical illness cover & similar (ie you want them to pay your bills and an income if you break your wrist and can't work, for example) is horrendously expensive and could easily cost you the £30/month depending on the criteria you set so it would be worth checking exactly what it is you're insuring here. Again, might be worth asking the professional bodies - I'm sure they'll offer such add-ons to the professional indemnity.

Hope that makes sense and is of some help rather than hinderance....

 

[michelleb1133]

Thanks hunni, helps alot i think soo much to think about lol!

I am totally self employed at the salon, the business has nothing to do with the hairdressers...so i will actually ask the owner about that.

Thnakyou again xx

 

[Just Hair Ins]

As you are renting a room, check with the Salon owner what form of sub lease you will be provided with (terms etc) and if not the owner of the building that they are allowed to sub lease the space via their tenancy agreement; legal matter.

As you will be a tenant check if you will be liable for a portion of the buildings insurance - tenants are usually charged by landlord for buildings insurance.

The Hairdressers will not be able to insure your activity as they have no financial interest in your business/ stock/ contents. Thus, you will need to organise cover yourself.

Freelance policies can insure you for Public Liability/ Treatment Risk and offer extensions (subject to an additional premium) for Contents/ Stock and some include Money. They do not however, insure you for the loss of revenue (following a fire for example) - this form of cover called 'Business Interruption' is only covered via a Salon policy.

For more info, follow this link
Freelance Hair & Beauty Insurance

Whatever you do, always check fine print (variations of treatment risk/ interpretation of qualified beauticians etc).