Day Spa Insurance
Day spas are wonderful businesses to own. You get to make nice profits while helping people take a break and feel good about themselves. Owning a day spa is both rewarding and stressful however. You must balance your customer’s needs, employee’s needs and business needs all while taking care of the day-to-day details. Relieve some of your ownership stress by making sure you’re not at risk for severe financial problems. Protect your company from everyday risks and hazards with small business insurance.
General liability insurance provides you with broad protection for any number of unexpected hazards, risks and events. This insurance covers most things as long as they aren’t specifically excluded on your policy. It’s designed to protect both your day spa and your customers. So you won’t lose everything when accidents happen but your customers won’t either.
General Liability Insurance Includes:
- Premises Liability - Premises liability protects you from accidents that happen on your business property. If a customer injures themselves at your day spa for example, or if their personal property is damaged while they’re there, this part of your general liability insurance will pay for the medical and repair bills.
- Products Liability - Despite your best intentions, you may occasionally sell products at your day spa that bring harm to your customers. If this happens, your customers may sue your company. Products liability helps protect you from those lawsuits. It can pay for your legal defense fees, pay for the customer’s pain and suffering, damages, or medical bills, and pay settlement or judgments as well.
- Completed Operations - Sometimes problems are not discovered until after services have been rendered. If, for example, your day spa provides deep muscle massages to your customers everything may seem fine right after the service has been completed. If the customer later discovers they were injured by those services, your completed operations coverage can protect you from the litigation expenses. It can also pay for your customer’s medical care and rehabilitation expenses.
Business Owners Policy
All of the parts of general liability insurance are included with another type of business owners insurance known as a BOP, or business owners policy. A BOP provides you with protection against asset losses. You can pick and choose just the right types of coverage you need for your day spa, so that you're not paying for insurance you don't need. Tangible and intangible asset protection coverage can include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Business auto insurance protects your day spa from suffering the costs of auto accidents, theft and even natural disasters if you select that level of coverage. This insurance pays the cost of people’s medical care when they’re injured in an accident, and it pays for property damage repairs as well.
When you have employees you must also have workers comp insurance. This coverage is mandated by law in most states. It is meant to provide protection for your employees if they’re ever hurt at work. Workers comp pays the medical bills and recovery expenses for injuries sustained on the job.
Commercial umbrella insurance provides you with an additional layer of protection. If your business insurance policies reach their maximum benefit levels, an umbrella policy can provide additional coverage.