Make Time for a FREE Salon Business Insurance Check

With salons on average generating over 10% of their annual income in December; January, in comparison, is traditionally a quiet month for hair and beauty salons.¹ Therefore, this natural lull at the start of the year is an excellent time for salon owners to catch up on admin, plan some staff training and review their business strategy for the year ahead. 

At the start of January 2022, more salon appointments were cancelled than ever reported, most likely due to the rapid spread of the Omicron variant of Covid-19. The Office of National Statistics reported that in the first week of the year, 16% of companies saw "an increase in cancellations from customers over the last month," but this rises to 50% for providers of services such as hair and beauty salons,² some of whom have seen up to seven cancellations in one day.³

While some cancellations may lead to re-bookings, this situation highlights the ongoing uncertain nature of an industry that has undoubtedly experienced a rough couple of years. Hair and beauty salons had closed completely, then re-opened with distancing rules to deal with combined with extensive waiting lists to work through,⁴ only to face further closures, changing guidelines and more cancellations.

During this quieter time of year, salon owners should take this opportunity to arrange a business insurance check as part of their overall admin catch up. It's essential to keep abreast of any changes in the insurance industry as it reacts to the pandemic and make sure the salon is protected from day-to-day risks by ensuring all the correct insurance policies are in place.

Using a broker with industry knowledge will ensure you get the right protection for your business. They will also keep you up-to-date with information on broader industry and general insurance trends. Using a comparison site may invariably lead to the cheapest deals, but often, these are a false economy, offering a one-size-fits-all approach that doesn't cover every eventuality relevant to your business. Businesses can be left over or underinsured, with a policy that’s not fit for purpose.  

Take time now to invest in proper research and ensure you have the best protection possible, including:

Public Liability Insurance protection if someone visiting your salon claims for an injury or their possessions are damaged. 

Products Liability Insurance covers you if you face a claim relating to products used that caused damage or injury. This insurance protects you in case your salon or belongings are damaged. 

Professional Indemnity Insurance protects against financial loss resulting from a claim against the professional advice you or a member of your team offer to a client. This cover is slightly different to accidental damage, so it needs a separate policy.

Employers Liability Insurance is a legal requirement if you employ staff. It protects you and your business if one of your staff becomes ill or is injured at work.

As well as these policies, your broker can advise whether changes in your business operations require additional covers such as cyber-cover for increased online traffic and payments or transit cover for deliveries.  

Our FREE, no-obligation salon business insurance check will ensure that you and your business are protected from potential liability claims and any associated costs involved. You could also save over 30% with us.⁵

Find out more about our free business insurance check.

<sup><sub>1. phorest.com/retail-sales-december-boost-salons 
2. twitter.com/ONS/hairdresser-and-restaurant-cancellations-surge-after-rise-in-covid-19-cases 
3. theguardian.com/annihilated-businesses-hard-hit-by-plan-b-falloff-in-trade-pubs-hair-salons-financial-support-covid 
4. bbc.co.uk/news/business 
5. We randomly surveyed 50 new business policyholders with insurance start dates between 1 January 2020 and January 2021. 100% made a financial saving by moving to smei, with an average saving of 22%.</sub></sup>