Estheticians are skincare experts that work directly with patients. They provide a wide range of services that may include chemical peels, waxing, facials and microdermabrasion. If you're an esthetician, one of your primary responsibilities is to properly carry out the treatment to avoid accidents or injuries. A single mistake can lead to a lawsuit and may put your business at risk. Having an esthetician insurance policy protects you from losses and risks associated with a lawsuit.
Without esthetician insurance coverage, you may have no choice but to file for bankruptcy. You can protect your assets and company by getting insurance coverage. Read further to know the importance of getting esthetician insurance coverage.
Why Do Estheticians Need Insurance?
Licensed estheticians need insurance for their protection. A customer can sue you for negligence if they think you caused harm or made a mistake while providing treatment. Your skincare services may benefit most patients, but accidents can happen. No matter how careful or skilled you are, some of the procedures may have unwanted side effects or unpleasant results that can compel a client to sue you — and you could be held liable for this.
The last thing you want is to deal with a claim that can hurt you and your business. You need insurance coverage to ensure you never have to pay for lawsuit damages. Otherwise, you'll have to pay out of pocket. Without protection, you may end up broke after a lawsuit. In some cases, you may have to close down. Depending on the nature of the claim, your profession may also be at risk. To avoid financial risks, consider getting liability insurance today.
Is Esthetician Insurance Required?
Getting insurance coverage isn't required but is recommended to protect your business and to have peace of mind. A lawsuit can cost you thousands of dollars and potentially wipe out all your savings and profits. Having the right insurance policy can cover expenses and losses related to the lawsuit, including damages and attorney fees.
Getting the right policy is important to ensure you have everything you need. We recommend you get the essentials, which include general liability coverage and professional liability insurance coverage. You won't have to worry about medical expenses and other damages in case a client sues you for getting negative reactions after treatment. The insurance company can take care of all costs associated with the lawsuit.
Types of Insurance an Esthetician Needs
When a treatment accidentally leads to a dissatisfied client, you could end up paying for the damage. A lawsuit may even put your license at risk. Get insurance to protect yourself. Below are the different types of esthetician insurance you may need. Get in touch with us to know more about them.
Whether you work as a sole proprietor or with a partner, we recommend getting basic insurance coverage to protect your assets and your business. You need general liability insurance and professional liability insurance to cover legal fees and other expenses from potential lawsuits.
General Liability Coverage
General liability insurance provides coverage for claims related to property damage or bodily injury. For example, when a client slips and is injured, general liability insurance can cover the customer's medical expenses. It's essential to fully discuss what's included in the coverage to ensure you understand everything.
Professional Liability Insurance Coverage
This type of insurance can cover you when a client sues you for wrong advice, negligence or personal injury. For example, when a client decides to sue you for accidental burns or skin damage, professional liability insurance coverage can pay for the expenses.
If you have employees, there might be a need to invest in additional insurance coverage. Below are the other types of insurance you may want to consider.
Business Income Insurance
When your place of business is damaged due to a fire or storm, and you need to shut down operations temporarily, business income insurance can cover your lost income and expenses. You will receive a monetary payment covering the actual income lost. The amount depends on how long you'll be out of business. Business utilities may not be covered. Before filing a claim, ensure you fully understand what's included in the coverage.
Business Owner's Policy
This type of insurance covers both your general liability insurance and professional liability insurance, as well as damages to your equipment or place of business. If you're a medium-sized or large company, we recommend you get this type of insurance. When there's theft involved, and you lost equipment, your insurance company can compensate you for the loss.
Workers' Compensation Insurance
Do you have a lot of employees? Consider getting this type of insurance to cover the medical expenses of employees who are injured while working.
What To Look for in a Policy
A good insurance policy will include both professional liability insurance and general liability insurance. You may need to add more coverage, especially when you have employees. Speak with the right professionals to help you make an informed decision on which type of insurance coverage to purchase for your business.
Look for a reliable and trusted insurance company that offers different types of coverage. Make sure you compare the costs and what's included in the coverage before paying for the policy. If possible, go with an occurrence form policy so you won't be vulnerable to lawsuits when the policy expires. Compared to the claims-made policy, you get lifetime coverage with the former.
Get in Touch With Tivly
Without insurance, you may pay a fortune in medical bills, lawsuits and other claims. If you want to protect yourself and have peace of mind, we recommend getting esthetician insurance for your business. It's the smartest thing you can do to protect your assets, your profession and your business.
If you need help deciding what type of insurance coverage to purchase for your company, please don't hesitate to get in touch with Tivly. Let us know what you're looking for so we can recommend the best solutions.