Day spas are exposed to an array of potential risks, ranging from vandalism and fire to false advertising claims and liability lawsuits. Day spa insurance helps Massachusetts salons and spas protect themselves from many of the risks they face.
Day spa insurance is a specialized type of commercial insurance that has been uniquely designed to meet the insurance needs of spas. Most policies are written as package policies that bundle multiple coverages together, and spas can often select which coverages they’d like included in a policy.
Most day spas and salons in Massachusetts should have a salon spa insurance policy. This type of insurance is usually the most well-suited commercial insurance for salons and day spas, and not carrying coverage can leave businesses dangerously exposed to expensive risks.
(While medical spas may have some insurance needs that are similar to day spas’ needs, salon spa policies normally don’t provide the specialized medical protections that medical spas need. Medical spas usually need medical spa policies, which are specialized for them, rather than salon spa policies.
Since day spas and salons typically can make coverage selections when purchasing a salon spa insurance policy, the coverages included in these policies can vary. Depending on what’s offered and selected, a particular policy might come with the following protections:
Commercial Property Coverage, which may cover spa-owned buildings and equipment
General Liability Coverage, which may cover common accidents and select liability lawsuits
Business Interruption Coverage, which may cover select sustained revenue losses
Professional Liability Coverage, which may cover errors made when providing services
Product Liability Coverage, which may cover equipment failure, allergic reactions and other product-related issues
Renters Liability Coverage, which spas that rent a commercial space may need
Commercial Umbrella Coverage, which may provide extra liability protection
These are just some of the many coverages that policies might come with. For assistance sorting through the many different coverage options, spas should seek the expertise of an agent who specializes in salon spa insurance. A specialized agent will be able to explain different coverages and make informed recommendations.
Some day spa policies might provide coverage for off-site massages, but not all policies include such protections. Reviewing a particular policy’s terms and conditions with an insurance agent can help spas determine whether that policy would cover such a service.
Insurance companies consider many factors when setting day spa policies’ premiums, and rates frequently vary from one policy to another. Some of the factors that often impact how much policies cost include the:
Services offered by a business
Address where a business is located
Size of a business’ staff
Coverages and limits selected by a business
Past claims history of a business
An independent insurance agent can help spas determine how much policies that meet their coverage needs cost. Unlike agents who are captive to one insurer, independent agents are able to compare quotes from several different companies so that spas can compare how much different insurers would charge.
To get help selecting a day spa insurance policy for your Massachusetts day spa or salon, contact the independent insurance agents at Charles River Insurance. Our agents have worked with many day spas in the state, and they have the knowledge necessary to help you find a policy that’s right for your business.