What does tanning salon insurance cover?
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance, is absolutely essential for tanning salons. It is the most important coverage for you to have. It protects your business against claims of misconduct, negligence, failure to deliver a service or inadequate work. Professional liability covers:
- Errors, mistakes and oversights
- Failure to meet deadlines
- Failure to deliver your product/service as advertised
- Professional negligence
- Failure to meet a standard of care
- Breach of contract
Commercial General Liability Insurance
Commercial general liability protects you, your business and your employees from legal liability against third-party bodily injury or property damage claims that occurred at your salon. It covers the costs of medical bills, legal fees, and repairs or replacements. This insurance policy also protects you against any advertising and reputational injuries (e.g., slander, libel, copyright infringement).
Commercial Property Insurance
Commercial property insurance protects your tanning salon and the contents inside (e.g., equipment, inventory, etc.) by covering the financial loss from such perils as:
- Property damage due to natural disasters, flood, fire, vandalism or theft.
- Property damage or theft of electronics, equipment, company documents or employees’ personal belongings.
- Inventory theft by employees.
Commercial property insurance can also include business interruption, which protects your business should you be unable to work due to an illness or injury and have to shut it down temporarily. This helps offset ongoing costs from income losses, such as bills, employee wages, etc.
Product Liability Insurance
Many tanning salons carry and sell merchandise to clients, such as creams, lotions and tanning products. Product liability insurance protects you against claims of bodily injury or property damage due to a product you manufacture, distribute or sell. Product liability primarily covers damages due to product defects.
What’s the difference between tanning salon insurance if I have commercial insurance?
Tanning salon insurance is a particular type of insurance policy intended to protect tanning salon businesses from different hazards and liabilities. While commercial insurance could offer a certain level of protection for your company, it may not provide the precise safeguards that tanning establishments require. Here are some key distinctions that you should be aware of:
- Industry-specific coverage: Tanning salon insurance is designed to manage the specific hazards associated with the tanning sector, including the use of sunbeds, UV radiation exposure, and possible skin-related problems.
- Property coverage: It protects your company’s physical assets, such as the building, tanning beds, and any other specialized equipment, whereas commercial insurance may cover certain belongings, but it might not include the unique equipment and assets that you have invested in.
- Product liability: Tanning salon insurance may additionally include product liability coverage, which safeguards your company in the event that a client is harmed or injured as a result of a product offered for sale or utilized in your salon, such as tanning moisturizers or skincare items.
- Liability coverage: Liability coverage is included in tanning salon insurance to protect your business from claims or lawsuits caused by injuries, incidents, or harm to property that could happen at your place of business. This coverage is critical for companies that regularly deal with possible hazards and interactions with customers.
- While the type of coverage included in your tanning salon insurance in Ontario will vary between insurance companies, it offers business owners the added benefit of knowing they are protected against the unique hazards faced in their industry.
How difficult is it to get tanning salon insurance?
Purchasing tanning salon insurance is easier than ever. By partnering with a broker, you’ll be able to shop around for tanning salon insurance policies from some of Canada’s top insurance firms. This enables you to choose one that fits your needs and budget. In the meantime, most insurance firms and brokerages offer free online quotes as well, or you can reach out to them over the phone.