Get a Barber Insurance quote

What is barber insurance?

Barber insurance, also known as hairdresser insurance, is a policy for self-employed barbers and barbershops, meant to protect them from various liability risks. While being a barber isn’t dangerous per se, there are aspects of your job that might put your financial well-being at risk. And in business, financial well-being is everything.

As a business, your primary directive is to deliver a service to your clients that meets their needs. The easiest example is a haircut. What happens if the haircut you deliver does not at all match your client’s expectations and they come back to you with allegations of negligence? This can happen regardless of whether you’ve done a good job or not, and it can be costly, particularly if lawyers get involved. If you run a physical location, someone slipping and falling inside it can lead to a lawsuit. And those aren’t exactly cheap either.

With insurance, all of these expenses (among others) would be taken care of for you. So, consider exploring your options.

Who needs barber insurance?

Anyone working with cutting hair, whether in a salon or barbershop will need this insurance. Some examples include:

• Self-employed barbers: Renting a chair or working independently.
• Barbershop owners: Protecting their business, employees, and clients.
• Mobile barbers: Providing services at clients’ locations.
• Hairdressers and hair stylists: Whether working in a salon, renting a chair, or operating independently, they need insurance to cover potential liabilities.
• Salon owners: Ensuring the business, employees, and clients are protected.
• Mobile hairdressers and stylists: Offering services at clients’ homes or other locations.

If you’re an employee, then you are likely covered by your employer’s insurance – though your coverage may not be as comprehensive as you may like. So, give it a look and see if it meets your needs.

What does barber insurance cover my business for?

Barber insurance typically includes several types of coverage to address the various risks you might face. Here are the primary areas that barber insurance can cover:

• Commercial general liability: This covers legal fees and settlements if a client gets injured on your premises or if you accidentally damage their property.
• Commercial property damage: This protects your shop’s physical assets, including the building, equipment, and inventory, against damage from events like fire, theft, or vandalism.
• Professional liability: Also known as errors and omissions (E&O) insurance, this covers claims related to professional mistakes or negligence, such as a botched haircut or skin irritation from a product you used.

What insurance coverage add-ons are recommended for barbers?

In addition to the basic coverage, there are several add-ons that can provide extra protection for your barber business, including:

• Business interruption insurance: This covers lost income and operating expenses if your shop has to close temporarily due to a covered event, like a fire or natural disaster.
• Cyber liability insurance: In today’s digital age, protecting your business from cyber threats is crucial. This insurance covers data breaches, cyber-attacks, and other digital liabilities.
• Equipment breakdown insurance: This covers the repair or replacement costs if your essential barbering equipment, like clippers and trimmers, breaks down unexpectedly.

How much does barber insurance cost in Canada?

Depending on where you are, the size of your operation and similar factors, the cost of your insurance will be unique to you. That’s because insurers base their premiums on risks individual to each business. For instance, if your barbershop is in a precarious area, with a high risk of break-ins, your premium may be higher (or lower, if the opposite is true).

Most small businesses that involve one or a handful of people shouldn’t expect to pay more than $2,500 a year. That said, this amount is on the extreme end of things. As a small-time barber, you should expect to pay about $500 to $1,500 a year.

The best way to find out your insurance premium is by either consulting a broker or getting a free quote from a comparison site like RATESDOTCA (which you can do in just a few minutes).

What factors determine the cost of barber insurance rates?

Several factors influence the cost of barber insurance rates. Understanding these can help you get a better idea of what to expect when shopping for a policy:

• Business size and revenue: Larger businesses with higher revenues typically pay more for insurance due to the increased risk exposure.
• Location: Your shop’s location can impact your premium. Areas with higher crime rates or susceptibility to natural disasters may result in higher insurance costs. Think of this the same way as you about your home insurance. The likelier your building is to be damaged or robbed, the higher the premium.
• Claims history: A history of frequent claims can lead to higher premiums, as insurers view your business as higher risk. File your claims only when you really, really have to (when damage is so severe that you can’t pay out of pocket).
• Coverage limits and deductibles: Higher coverage limits and lower deductibles generally result in higher premiums. Balancing these elements is key to finding a policy that fits your needs and budget.

How does barber insurance work?

When you purchase a barber insurance policy, you enter into an agreement with the insurance provider. In exchange for your premium payments, the insurer agrees to cover specified risks and liabilities outlined in the policy. If a covered event occurs, you can file a claim with your insurer, who will then assess the situation and provide compensation according to the terms of your policy.

• Filing a claim: If you need to file a claim, the process typically involves notifying your insurer as soon as possible, providing documentation of the incident and any related expenses, and cooperating with any investigations. Once everything is reviewed, the insurer will determine the compensation and disburse the funds directly to you or the relevant parties.
• Renewing your policy: Most insurance policies need to be renewed annually. This is a good time to review your coverage, assess any changes in your business, and make adjustments to ensure your policy continues to meet your needs.

How to get the cheapest barber insurance quote

Finding affordable barber insurance doesn’t have to be difficult. Here are some tips to help you get the best rates:

• Shop around: Compare quotes from multiple insurers to find the best deal. Don’t settle for the first quote you receive.
• Bundle policies: Many insurers offer discounts if you bundle multiple types of insurance, such as general liability and property insurance.
• Increase your deductible: If you can afford a higher out-of-pocket cost in the event of a claim, raising your deductible can lower your premium.
• Maintain a claim-free history: Ensure you have procedures in place to prevent claims, such as wet floor signs to prevent slips and falls. Having limited or no claims will lower your quote since he more claims you have, the higher your insurance will be.