The end of the year is fast approaching and it’s worth making sure your business insurance is up to date before you head into 2025. Between the busy season and hopefully a well-earned break, find time to assess these key summer risks and what it means for your insurance, thanks to BizCover.

Reviewing your insurance

The holiday period is often a hectic time for hairdressers, and while you’re run off your feet dealing with the influx of clients and suppliers, your business insurance is probably the last thing on your mind.

However, the silly season rush could bring additional risks. Be prepared for some of the common risks hairdressers face and take time out to review your insurance policies.

Trips and slips

With an uptick in customers during the holiday period, it may be a good idea to ensure your Public Liability insurance is still up to date and fit for purpose.

Public Liability insurance covers you if a third-party claim that your negligent business activities caused them injury or property damage. For example, if a client trips over an errant blow dryer cord or slips in a pool of water near the shampoo unit and injures themselves. With more people coming in and out of your salon, the chances of an accident occurring may be increased.

Business assets and stock

Have you bought new equipment or styling tools over the past year? Or maybe you’ve stocked up on your best-selling haircare products before Christmas? Either way, it may be time to check your Contents insurance.

This type of insurance covers you for loss of or damage to items such as business equipment, stock or furniture in your salon. If you’ve purchased extra stock to meet demand, or invested in new equipment, then your Contents insurance may need to be updated to reflect these changes to not risk being underinsured.

New staff and apprentices

With the increase in summer trading, you may have hired new staff or freelance stylists, or taken on a new apprentice. If this is the case, then you may wish to review your Management Liability insurance.

A hair salon is a well-oiled machine. With so many client appointments overlapping, staff need to learn to work together seamlessly to ensure client satisfaction and smooth operation. No doubt the staff at your own salon work together like a tight-knit family, but that doesn’t mean that things can’t sometimes go wrong. That’s where Management Liability insurance comes in, which is designed to reduce the potential risks that can arise from running your own small business, such as unfair dismissals, defamation, OH&S dramas and more.   

There’s still time to review your insurance

Protect your business with BizCover. Quickly and easily compare multiple insurance quotes from selected leading Australian insurers and discover how much you could save.

Having the right kind of insurance to protect your business can help to give you peace of mind, so you can enjoy the summer holidays and welcome the new year feeling totally refreshed.

For on the go cover, go BizCover or call 1300 805 821

Read Full Post