Barbershops must constantly work to keep the customers coming in. Blast Barber Studio in Burlington North Caroline has taken service to a whole new level by providing a haircut, shaves and beer. Read more, click here.
managing stylists, keeping customers well groomed, stocking grooming products, and other barber business tasks can expose the owners of barbershops to very real and specialized risks. In addition, barbershop owners face what can be considered typical issues that most small businesses deal with like; loss of important records and information, or property damage. Following is a brief summary of the insurance options barber shop owners typically need to ensure that their business operates smoothly.
Business Owner’s Policy
Most barber shops have a Business Owner’s Policy (BOP) because the policy helps protect the business in much the same way a homeowner’s policy helps protect a home and personal possessions.
By combining three basic insurance coverages that are important to barber shops, a Business Owner’s Policy (BOP) can help save you money on insurance rates while safeguarding the barbershop and your business.
- General Liability – helps protect your barbershop business from certain lawsuits alleging injuries or property damage that occurred as the result of your business operations, like if a customer slips on a wet floor and is injured at your barber shop or an employee causes damage to a customer’s property while on a house call for barber services. It even helps cover certain claims of slander and libel. Business Liability insurance does not cover liabilities directly arising out of the professional barber services you may provide.
- Commercial Property – helps protect the place where you do business, your barber shop, and the inventory and equipment you use to conduct business, like hair products, scissors and combs, or furniture, whether you own or lease them.
- Business Income – helps cover the loss of income you may incur when you can’t run your barber shop because of covered property damage.
To learn more about our Business Owner’s Policy, click here.