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Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a body waxing business.

Company insurance is intended to safeguard the financial assets of a firm owner and is a vital investment for a body waxing business.

This article will discuss the primary insurance coverage for body waxing firms, general liability insurance, as well as additional policies that are appropriate for this industry.

Body Waxing Companies Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.

Situations That a Body Waxing Business’s General Liability Insurance May Cover

Example 1: A client fails to notify your company that he is allergic to a certain brand of body wax that you often use. He had a serious allergic reaction to your wax and demands immediate medical assistance and an ambulance. If proven accountable, your company’s general liability insurance would most likely cover any court-ordered damage payments or settlements.

Example 2: A client falls asleep during his session and awakens to discover that he has been treated in accordance with the timetable of another customer. He gets rashes on his body from the use of various oils. He believes that his health is an important aspect of his working life and launches a lawsuit to cover the time he is unable to work. If your organisation is found to be accountable for the mistake, general liability insurance would most likely pay the ensuing damage estimates or settlement.

Example 3: Due to a faulty mechanism, a consumer is inadvertently trapped in a tanning bed. Her complexion is crimson and she is plainly scared when she is eventually freed. She claims to be traumatised and in excruciating agony. If held accountable for this occurrence, your company’s general liability insurance would most likely pay any damages due or settlements made.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

The typical American body waxing company costs between $350-$750 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Other Types of Coverage Required by Body Waxing Businesses

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that all body waxing companies should have include:

Insurance for Professional Liability

Body-waxing enterprises provide sensitive services that have a significant influence on their clients’ physical comfort. As a result, this is one company that must have professional liability insurance. If a consumer is unhappy with the outcome of their process or believes they have been seriously mistreated by your methods, they may choose to sue. Rather of paying large sums in damages, a wise body waxing firm will be insured for professional liability, deflecting the majority of the financial losses sustained by such cases.

Insurance for Commercial Property

A body waxing firm will maintain and use cosmetic equipment, supplies, machines, and even inventory on-site at its shops. One of the most significant blows a company can take is losing large sums of money due to unanticipated events such as a fire or severe weather. If such a loss affects your firm, you will have to consider not just the loss of your tangible assets, but also the cost of reacquisition. Business property insurance covers damage to owned real estate as well as commercial inventory/equipment.

Coverage Options for Some Body Waxing Businesses

In addition to the insurance listed above, your body waxing company may need other forms of coverage based on particular elements of your operations. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Insurance for Workers’ Compensation

While a body waxing company may exist with you as the only owner and worker extraordinaire, there is much to be gained by taking on staff to develop the business and generate income. However, both part-time and full-time employees are legally required to have workers’ compensation insurance. Employees will be covered for on-the-job injuries under this policy. They will also get disability and death benefits, which will improve the financial security of not only your employees but also their families.

Insurance for Product Liability

Many body waxing establishments also offer products. In an area like health and cosmetics, your company is definitely better off having anything to shield it against product-related litigation. For example, if a client is injured or suffers other medical damages as a result of a product you sold, you might be held accountable for the expense of medical treatments. Don’t be caught off guard by an unexpected abuse of your product—product liability insurance is designed specifically for this purpose.

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will eliminate unneeded variables from routine activities and establish a secure, consistent environment in which to do business.

If your company is an LLC, you should check into LLC insurance.