What is the Best Esthetician Insurance?
Esthetician insurance is one of the best tools available for effectively protecting yourself from the different forms of risks facing beauty professionals today. But with so many different insurance companies all claiming to provide the protection you need, how do you know which program is really the best for your situation?
Today, we’ll help our beauty pros compare different esthetician insurance plans to make sure they’re getting great coverage at a good price.
Esthetician Insurance 101
Insurance by itself can seem pretty confusing as to what all is covered and what isn’t. As you’re looking for the best esthetician insurance for your unique career path, making sure you understand what’s included in the policy is crucial.
While individual insurance plans vary greatly in what and how much they’ll cover under a policy, there are some common areas to look for in a solid insurance program including:
- General and Professional Liability Coverage: these two coverage types are by far the most common you’ll see with any esthetician insurance policy.
General liability coverage covers you in the event of an accident causing an injury or property damage to a third-party individual i.e. not yourself or your insurance company. You’ll hear general liability insurance called “slip and fall insurance” since this event is an unfortunately common one facing anyone offering services to the public.
Professional liability coverage pertains to a claim related to an accident with injuries or property damage that happens as a direct result of the services you provide.
If during a skin treatment, a slip of the hand causes you to injure your client, their injury claim against you would fall under professional liability since you were in the event of offering your service when the accident occurred.
- Product Liability Coverage: product liability coverage is something you should see any any estheticians insurance plan worth its weight. That’s because as an esthetician, you’ll be employing a wide array of products in order to perform a given treatment. All it takes is one adverse reaction to a product you used during a session to spur a claim against you related to product liability.
- Rental Property Damage Protection: almost all estheticians will rent booth space in a salon or commercial space. Whenever you’re in a rental situation, your lease will almost always have specific provisions for what happens if you damage the space. However, even if this isn’t spelled out in your lease, if damage occurs inside of a rental your landlord can still hold you responsible and demand you cover the repair costs. Even though damages to rental spaces happen all the time, a lot of estheticians insurance plans out there either don’t provide rental damage protection or only include a small amount of coverage. Building a policy made for the real world faced by beauty professionals, Elite Beauty Society includes all the way up to $100,000 in rental damage coverage.
- Identity Theft Protection: as we all rely more and more on online offerings to stay connected, we’re also opening ourselves up to a greater risk of having our identities compromised. If this happens, it can take a lot of time and money to set things right again. That’s why we include the peace of mind that comes with $25,000 worth of expert identity restoration services should your identity ever be compromised.
- Stolen/Damaged Equipment Protection: a robbery by force leaves you not only shaken, it can leave you without all the tools and products you need to be able to run your business. We knew we couldn’t leave our members exposed so include up to $1,000 with a $250 deductible to help cover the cost of replacing any vital tools and equipment that are stolen or damaged.
These coverage areas provide the best all-around protection you can get as a professional in the beauty industry, which is why each is so crucial to have inside of a solid policy. At Elite Beauty Society, our esthetician insurance policy is specifically tailored just for esthetics professionals so that our members can be confident in the coverage they receive.
Understanding What Services Are Covered by Insurance
Perhaps one of the most crucial aspects to your potential esthetician insurance policy is what services are actually covered. Consider first what area of esthetics you’d like to focus on - is it chemical treatments? Facials and body waxing? Spray tans? Most often, estheticians say they don’t want to be pigeonholed into offering only a few beauty services; rather, they enjoy the freedom to choose the best services to meet their clients’ needs.
Unfortunately, a lot of esthetician insurance programs out there only cover a small amount of core services and anything outside of that either isn’t covered or will require an additional fee. At Elite Beauty Society, we take the side of the beauty professional every time.
That’s why we include coverage for literally hundreds of different beauty services. So go ahead and offer eyelash services, dermaplaning, and nail services all in the same day - with Elite Beauty Society’s esthetician insurance, you can be confidently covered.
A Closer Look at the Benefits of Estheticians Insurance
Benefits can sometimes get put on the back burner as you’re shopping for esthetician insurance but these programs can really add value to your overall insurance plan.
- Free, professional website: a website is so crucial these days for being able to advertise your services and specialities online. With just about everyone owning a smartphone, the first place they’ll look for “beauty service near me” is on a search engine. That’s why our policies come with this huge benefit for our members.
Our free websites are state-of-the-art and make you stand out online. These sites are designed to help you highlight your unique skill sets and capture more clients.
- Discounts on beauty products and business services: no second-rate discounts here, just members-only early access deals and exclusives from the very best names in beauty products and services.
- Free magazine subscriptions: enjoy a free subscription to a Creative Age Publication of your choice.
With a solid member benefits plan, your esthetician insurance policy can really compound how much value you get for what you pay in premiums. Always make sure you know what all is offered in terms of benefits and how to take advantage.
Considering the Cost of Esthetician Liability Insurance
When looking at how much esthetician insurance costs, the term you should focus more on is value. True, price does play an important role in just about every purchasing decision we make as consumers. But judging esthetician insurance plans by price alone may leave you exposed when the coverage isn’t stout enough for your needs.
Taking a value-based approach to esthetician insurance rates means comparing both price and coverage simultaneously. This may seem like a lot of work but it’s really just some quick math and can end up saving you big time.
For example, with Elite Beauty Society’s estheticians insurance plan, you get all the way up to $2 million per occurrence in professional and general liability coverage. This comes at a price of just $139 per year if you go with a two-year term. To get our value ratio, just take the $2 million in coverage divided by $139 in premiums. The resulting figure means that you effectively get more than $14,000 in coverage for every dollar you spend.
Other programs may offer a lower premium but with less than adequate coverage. If a policy has a $1 million limit, with an annual premium of $129, for every dollar spent, you’d only be getting about $7,700 in coverage.
This is where the value approach helps you find a more affordable plan with more coverage.
Best Esthetician Insurance for Students in Beauty School
Students in beauty schools will still face many of the same risks as their professional counterparts as they work towards graduation. Schools, like individual salons, are typically required to carry a degree of liability insurance but this amount may not be enough to cover the entirety of an accident if a claim were ever leveled against you.
While this risk is low, it can be effectively mitigated with a esthetician insurance student policy. At just $25 for an entire year, and with the same coverage as our professional program, the level of coverage relative to cost cannot be beat.
Another path to consider with esthetician student coverage is to wait until you’re nearing graduation before purchasing the one-year student insurance option. That way, almost all of your first year on the job (and when you’re still learning the ropes) is covered under professional-level insurance, just at the significantly-discounted student rate.
Getting Estheticians Insurance Online
While our world has shifted to many online offerings these days, getting online insurance can still make some wary. That’s why we designed our entire application process to be super fast and easy. As soon as you fill in a few details and check out, you’re instantly covered.
Come see why so many estheticians trust Elite Beauty Society to cover every step of their career.