Have you checked your equipment insurance cover lately?
This is a question insurance broker Parmia is asking professionals in the beauty industry who may be at risk from taking ‘off-the-shelf’ packages.
Parmia director Danny Gumm is worried that many salon owners do not carry comprehensive cover for equipment such as tattooing, electrolysis and laser tools, which could be a problem if a claim is made.
“The risks of having only standard cover for beauty equipment are very high should professionals need to make a claim.”
Danny said off-the-shelf packages offer little or inadequate protection because they don’t consider the unique nature of the individual business. Because every salon is different in the services they provide and the equipment used, it is important for complete peace of mind to purchase a tailored insurance cover.
“One of the biggest reasons for purchasing standard policies is because of the need to meet the criteria of financial loans in order to obtain the equipment. Distributors are exposed to risk as well, despite, in many instances, distributors having no say in quality control or processes of equipment manufacturing.”
For more information visit www.parmiainsurance.com.au