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Beauty Salon Suite: What Kind of Insurance Do You Need?

By November 23, 2023Salon Spa Blog
why you should lease a salon suite rental in Fort Worth

This is a topic which is rarely talked about when discussing renting a beauty salon suite, but it’s a topic which need discussion: Insurance!  What kind of insurance do you need in the average salon suite rental?

We are Salon & Spa Galleria, serving the Greater Fort Worth area with twenty-three salon suite rental locations. Call us at 817-917-1416 for more information and to arrange for a tour of our facilities.

Now, though, let’s talk about the mundane and terribly important matter of insurance.

What insurance is associated with the beauty salon suite rental agency?

For sure, the salon suite agency you are renting from will be carrying some insurance on that actual building they own; that insurance is usually in the form of liability insurance should there be, say, a water leak or electrical fire or some other structure-related damage caused by their property.  Although this is great coverage for the agency, it does little to actually cover the individual businesses renting in that agency building.  For that individual company protection, more insurance is needed on an individual basis.

What insurance do you, the beauty salon suite renter, need?

A renter’s insurance is usually three-fold in nature. The first thing which should be obtained by any small beauty salon owner is general liability insurance. This is generally referred to as “slip and fall” insurance. If a customer slips on water on the floor of your salon, falls down and injures themselves, you the business owner are covered.

The second type of coverage is professional liability insurance, protecting you, the owner, from a malpractice lawsuit.  If, God forbid, you damage the hair of a customer, to the point where medical aid is needed, you will be covered should you be sued.

Finally, there is product liability insurance.  If you sell beauty products in your salon and if a customer is harmed by one of those products, it is possible that the customers might name you in the product lawsuit. This insurance will protect you from that liability.

Better safe than sorry.

Is all of this coverage necessary?  In a vast majority of the salon studio rental cases, insurance is never needed. Accidents and injuries in a beauty salon are about as rare as a midair collision of two airplanes.  Having said that, if you are one of those rare instances where damage or injury do occur, you could literally lose your entire business and be crippled financially for decades if you did not have adequate insurance coverage.  Is it worth it? In our opinion, yes!  Grandma’s old advice, “better be safe than sorry,” not only applies here but is sage advice for sure.  Pay now so you will never have to pay later.

A final word about Salon & Spa Galleria.

Salon & Spa Galleria is locally owned and operated, with twenty-three salon suite rental locations throughout the Greater Fort Worth area.  Rental rates start at a very affordable $75 per week with a host of amenities included in that rental fee, including free utilities.  Call us today and arrange for a tour.