Why Beauty Pros Should Consider Additional Insured Options on Their Cosmetology Insurance
Your Guide to Understanding Additional Insureds
We know, we know—the second you see an insurance topic pop up on the blog, your eyes are basically begging to glaze over and you’re, like, 3 seconds away from clicking that big red X on the page.
But wait!
Before you bail on this blog, know this—we’re about to dish on a low-cost, streamlined, super simple way to cover your professional insurance bases without having to bat an eye.
Yep, we’re giving away industry secrets—that’s just how much we want to see you succeed.
What are we blabbing on about, exactly?
Additional insured options and why they matter.
Sound like a bunch of jumbled insurance talk?
We’re here to break it down so you can have a foundational knowledge of what additional insured options are, what they can do for your cosmetology insurance policy, and how they can keep you covered when it matters most.
So, what are you waiting for?
Keep reading! Get in on the insurance industry secrets ASAP.
What Exactly Are Additional Insured Options?
Before we can try to show you the benefits of having an additional insured option in your cosmetology insurance, we’re going to start at the beginning.
AKA, we’re going to answer the most important question to your foundational additional insured option knowledge—what exactly are additional insured options, anyway?
We’re glad you asked.
Additional insured options are a specific type of insurance status that’s usually associated with your professional liability insurance policy (in your case, that would be your cosmetology insurance policy) that provides coverage to a specific individual or group that was not initially named on the policy.
In other words, additional insured options are exactly what they sound like—intentional additions to your cosmetology policy.
When these people or groups are added to your insurance policy, they’re endorsed by your policy—that means that they can and will (in most circumstances) be protected under the named insured (that’s you!).
This also means they can file a claim under this policy if someone sues them.
So, all in all, an additional insured is just that, someone you’re adding to your policy that wasn’t there before—your employee, your receptionist, your business partner, whoever they might be.
Why You Should Consider Adding Additional Insured Options to Your Cosmetology Insurance Policy
Now that you’ve got the basic idea of what additional insured options are under your cosmetology insurance policy, you’re probably already seeing the benefits.
But do you know all of them?
It might seem silly, but additional insured options can be beneficial even if you work alone.
Do you have a maintenance worker that tackles cleaning and repairs at your solo salon?
A friend that’s frequently hanging in your space? Someone who would be held liable for issues even though they’re not your employee?
Add them to your insured options!
This way, you’re covered and they’re covered should something ever happen!
Of course, additional insured options for your cosmetology liability insurance make a lot more sense when you’re considering people or groups who actively work with you in your salon, spa, or shop.
Whether they’re dedicated employees or occasional freelancers, it’s super beneficial to add them to your policy!
It's Basically Extended Coverage for Your Team
If you’ve read our blog, you’ve probably heard us refer to insurance as a safety net—because that’s exactly what it is.
You hope you never need it (and if you’re a conscientious worker, you might not), but should something go wrong (whether it’s true or not), it’s there to catch you.
Consider additional insured options an extension of that net—and instead of just catching you if you fall, it’s got your entire team covered.
That means even if something totally unlikely, improbable, and impossible happens to one of your employees or contractors, they’ve got that peace of mind within that safety net—and you could provide that for them!
Helps You Cover Your Professional Bases
Did you know that if something happens in your salon—even if you had nothing to do with it—you can still be the one paying for the repercussions and dealing with the aftermath?
It’s true—as an owner, manager, or cosmetologist in charge, liability can fall on you even if you were nowhere near the issue (or alleged issue).
For this reason alone, it’s so important to cover your professional bases.
The last thing you want is to be caught up in a legal battle and financial strain for something that you had nothing to do with.
This type of circumstance is so much worse when you actually already have your own professional liability insurance and you would have been protected if you’d simply added the party to your additional insured option.
It's a Low-Cost Way to Manage Risk
Navigating liability is the name of the game but managing risk before it rears its ugly head is the real key to staying away from claims and cases.
Depending on your insurance provider, it can be incredibly low-cost to add employees and contractors to your policy.
Think about it this way—even if it is an additional cost each month or every year, you’re investing in your salon’s safety and success.
Because in the end, that’s what insurance is—an investment in success and protection.
If you’re familiar with our blog, then you know EBS isn’t all about just insurance talk—but we do think it’s important to bring it into the mix once in a while, ya dig?
Don’t worry, we’ll still shoot the breeze, bring the tea, and keep you up-to-date on the latest cosmetology trends—but we’re also here to bring your career to the next level, and often, that means talkin’ preventative and risk-mitigating actions that can keep you ahead of the liability curve.
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