Are you aware of all of the risks involved in running an endermologie® business? Running this type of business can be lucrative, but can also come with hidden risks that you may not be aware of. Luckily, there are insurance options that are especially made for med-spas to help manage risks and keep your business running smoothly.
Since insurance is not a one-size-fits-all solution, it is best to select from a variety of insurance options that best fit your needs. Do you have equipment that can be damaged? Are your employees getting injured on the job? These are some of the questions you should ask yourself when choosing insurance.
In this article we will discuss insurance options that can work for you.
Start With The Basics: General Liability Coverage
A basic insurance plan such as General Liability Coverage is the first step in buying insurance.
It will provide overall coverage for common high-risk situations; yet also can be supplemented by insurance options that cover more specific needs. This will protect you from:
- Employee injury claims
- Negative side effects from products
- Personal injury
- Slips and falls
- Legal defense
Protect Your Investment: Commercial Property Insurance
Since med-spas are in the luxury industry, it is likely that you have invested a lot of money in the location, design, and decor of your facility. This type of insurance will help protect this investment by providing coverage from damages such as:
- Natural disasters
- Fire
- Theft
- Repairs
Protect Your Business: Business Interruption Insurance
Unexpected expenses can have a big impact on your financial stability. Therefore, Business Interruption Insurance can help protect you from taking a big loss during times of financial difficulty. With this type of insurance business will keep running smoothly since it provides financial support for:
- Employee salaries
- Loan payments
- Relocation costs
- Bills and regular expenses
What kind of risks have you seen in your business? Let us know by leaving a comment below or on our Facebook page.