Establishing and running a day spa requires a significant investment, and that investment ought to be protected when possible. One way day spas in Massachusetts can help protect themselves is by procuring day spa insurance.
Day spa insurance policies are specialized commercial policies that typically meet the needs of day spas and similar businesses. In order to meet multiple coverage needs, most of these policies combine several individual coverages together into a package policy.
Most Massachusetts businesses that function as day spas or salons should have salon spa insurance in place. Not procuring coverage often leaves a business exposed to substantial risk, and this is normally the most appropriate type of policy for these businesses.
(Businesses that function as medical spas will likely find the coverages included in a salon spa insurance policy insufficient. These businesses are normally better served by a medical spa policy.)
As mentioned, salon spa insurance policies often include multiple coverages. Some of the coverages that may be found within a policy are:
Other coverages to consider include commercial umbrella coverage and cyber liability coverage. The former generally offers supplemental liability protection and the latter usually covers data breaches. There sometimes are additional coverages to consider as well.
An insurance agent who specializes in salon spa policies can help spas select the coverages that are right for them.
Day spas and salons must consider coverage for off-site services if they provide treatments at clients’ locations, festivals or other places outside of their facility. Some policies may cover these services, while others may exclude these services from their protections. An agent who’s familiar with these policies can check for this coverage if it’s needed.
Workers compensation is an insurance that generally protects against workplace injuries and illnesses, and most businesses that have employees in Massachusetts are required by state law to carry this insurance. Thus, many day spas need workers compensation.
Even though this insurance is widely needed, however, workers compensation is often not included in day spa policies. Instead, it’s frequently purchased alongside these policies through another policy that provides only workers compensation and stands on its own.
Premiums for day spa policies vary because they’re based on numerous different factors. Even with differences in cost, though, insurance tends to be affordable for spas. It’s almost certainly less expensive than what a major claim could cost if no insurance is in place.
An independent insurance agent can help spas find out exactly what the coverages they need will cost in their situation. Independent agents have the freedom to compare quotes from several insurers, which provides an accurate overview of what the going rates for a given set of coverages are.
If you need day spa insurance for a spa or salon that’s in Massachusetts, contact the independent insurance agents of The Feingold Companies. Our agents are able to show you policy options from multiple insurers, and they have the expertise necessary to help you select the best available option