6 Best Beauty Salon Insurance Companies 2023

We received a quote for a specialized liability policy that cost $1,085 annually. If you pay in full, you save $93—or there is the option for four payments. The policy had limits of $1 million per occurrence and $2 million aggregate. The quote was for a policy that combined general liability and professional liability using the same limits.

The Hartford has customized salon insurance by offering a liability policy that combines general liability and professional liability insurance.

Complaints filed with state departments of insurance are tracked by the National Association of Insurance Commissioners (NAIC). The Hartford has lower-than-average complaints, meaning customers are overall satisfied.

This matches with user reviews of The Hartford. When it comes to the claim experience, reviewers have given it an overall rating of 4.8 out of 5 stars with over 15,000 reviews.

For most policies, including ones for a beauty salon, you can get a quote and purchase the policy online. The process takes under 10 minutes. If you have questions about what coverage is right, you can call The Hartford and speak with an agent or reach out to a local independent agent.

The Hartford has been paying claims for more than 200 years. It has the financial resources to handle claims and has a rating of A+ (Superior) from AM Best.

We received a quote for a BOP that cost $916 annually. You can purchase the policy online or call to finalize the details of the coverage. The policy carried general liability with $1 million per occurrence and $2 million aggregate limits and $15,000 in property coverage. It also had $1 million total coverage for professional liability.

Nationwide offers insurance for beauty salons with up to $5 million in revenue. The space must be less than 50,000 square feet. However, it doesn’t offer coverage for day spas, electrolysis, tanning, acupuncture, and waxing services.

Nationwide maintains a 24/7 call center for customer service and first notice of loss. It has experienced adjusters across the country to contact you quickly and walk you through the claims process.

Quotes for most insurance policies are available online. Sometimes, depending on the industry or risk, you’ll have to call Nationwide or a local agent to obtain a quote.

While it does offer an online account for managing your policy, filing a claim, and paying your bill, information on other capabilities aren’t readily available.

Nationwide was founded in 1926 and has a proven track record of having the financial strength to handle claims. It has a rating of A+ (Superior).

We received a quote for the deluxe coverage package that cost $100 annually or only $8.34 monthly. The policy was for a combination of general liability and professional liability. Each coverage carried the same limit of $1 million per occurrence and $2 million aggregate. The quote was for an independent esthetician working in a business owned by a business.

Next is a direct-to-consumer insurance company, meaning you can purchase policies directly from it. As such, it states you save up to 25% on business insurance through it. While this was the lowest quote received while researching the article, that doesn’t mean every business will receive the same quote.

As a newer company, Next Insurance only has a few years of data with the NAIC, but its complaints are lower than the national average. It also has 4.9 out of 5 stars with more than 100 reviews on third-party site feefo.

Convenience is where Next really shines. You can get a quote and a policy in minutes. Once you purchase a policy, you have access to the documents and can instantly create COIs. It has a mobile app, where you can also access your policy and use the app or your account to manage claims.

While Next is new to the insurance field, having been founded in 2015, it has established itself financially. It has a rating of A- (Excellent) from AM Best.

We received a quote for general liability and professional liability. It cost $1,262 annually or $105.13 monthly. Hiscox doesn’t charge extra for monthly payment plans. The professional liability carried a limit of $1 million and a $500 deductible. The general liability had a total limit of $2 million.

For beauty salons, Hiscox automatically includes $200,000 in sexual misconduct coverage. Coverage is available for claims made or occurrence-based forms, giving you the flexibility to pick which is best for your business.

Online, you can get a quote, purchase a policy, and obtain instant COIs. Hiscox has online access to policy documents and filing a claim 24/7. But if you need to speak with someone, its hours are Monday through Friday 7 a.m. to 7 p.m. ET.

Its complaints are slightly higher than the national average with the NAIC. But on third-party site feefo, it does have positive ratings with 4.7 out of 5 stars from over 1,000 reviews.

Hiscox is a global insurer with more than a century of experience. It has a rating of A (Excellent) by the financial rating corporation AM Best.

The policy offered by Beauty & Bodyworks is the most affordable policy we found, but you don’t sacrifice coverage for the price. You can purchase the base policy for $96 annually—the price can increase from there as you add coverage, but even with additions, it still stays low. The policy has general and professional liability aggregate limits of $3 million. It also includes products and completed operations with an aggregate limit of $3 million.

We received a quote for $139 a year. This included the above coverage with additional coverage to fit our needs: $2,000 for equipment, dry-cupping coverage, and unlimited additional insureds.

Worth noting is that this is the only provider that advertised a dedicated policy for students in beauty or massage school. A student policy costs just $67 annually and is available to numerous health and bodywork professionals.

The purchase process takes less than 10 minutes and coverage is available in all 50 states. Once you have purchased a policy, you have access to your documents, including a COI, and can file a claim through the online dashboard.

If you do need to speak with someone, you can call Monday through Friday, from 8 a.m. to 8 p.m. MT, to speak with a licensed agent.

Since this isn’t a carrier, it isn’t subject to NAIC complaints. However, its reviews online are positive. It has 4.8 out of 5 stars on feefo.

The policies offered for this program are underwritten by the Great American Insurance Group. It has a rating of A+ (Superior) by AM Best.

We received five quotes for a hair salon. Two for general liability and three for a BOP. The general liability quotes were both for a policy with limits of $1 million per occurrence and $2 million aggregate. One was from Liberty Mutual ($650 annually) and the other was from Chubb ($746 annually).

The BOP quotes were fairly similar. All had the same liability limits (listed above), and two had $15,000 in property coverage with a deductible of $1,000. The most expensive quote from Chubb included $20,000 in property coverage with a $500 deductible. It costs $933 annually.

To finish the purchase, you may need to call.

CoverWallet is available in all 50 states. It allows you to get quotes for most businesses and coverages online and compare them from multiple providers. Once the policy is purchased, you’ll have access to its online account management system, which it calls your Wallet. There, you can manage your policy, make payments, file a claim, and obtain an instant COI.

On the third-party review site eKomi, CoverWallet has 4.7 out of 5 stars from almost 800 reviews.

CoverWallet is owned by Aon, an international corporation with a rating of A (Excellent) from AM Best.

The cost of salon insurance depends on many factors—including what services you provide, claims history, revenue, and number of employees. In our research, we found liability policies running from $96 annually to over $1,000 and BOP policies ranging from $500 to over $900.

Salon insurance is a combination of policies that provide protection for your beauty salon business:

• General liability covers third-party property damage and bodily injury claims
• Professional liability covers claims your service caused damage or harm
• Commercial property protects your physical assets: building, contents, and equipment
• Workers’ compensation helps employees injured on the job by covering their medical bills and providing for some wage loss

If you have one or more employees, you will likely need workers’ compensation insurance as it is required in nearly every state. Beyond that, it depends on if your state requires some form of insurance for licensing. If you have a loan or rent property, the landlord or lending institution may require some form of insurance. Ultimately, the cost of not having insurance can be much more than making sure you’re covered.