Maryland Tanning Salon Insurance Policy Information
Maryland Tanning Salon Insurance. As a responsible tanning salon owner, you know that protecting your business and its assets along with your personal assets is important. Tanning salon insurance protects your business from a variety of perils that might cause financial distress or leave you holding the proverbial bag when it comes to litigation filed against your business by an unhappy or injured customer.
Coverage for your tanning salon business protects you against liability charges lodged against you. Sometimes there are major lawsuits filed against tanning salons. In Mount Pleasant, Maryland, Sunkissed Tanning Spa found themselves the subject of two lawsuits. Two separate clients filed for $50,000 in purported damages against the spa due to negligence and privacy invasion by the owners. These suits are not uncommon and that is why Maryland tanning salon insurance is so important.
Maryland tanning salon insurance protects your business from lawsuits with rates as low as $85/mo. Get a fast quote and your certificate of insurance now.
The tanning industry received more heat in recent years due to the Melanoma Research Foundation stating that tanning bed UV exposure increases melanoma risk in people age 30 and under by as much as 75 percent. An uptick in lawsuits followed the study's results occurred. Many consumers are now claiming injury from laying in the tanning bed, and they are holding salon owners accountable.
Even among salon owners who follow the recommended practices from the manufacturer and follow strict privacy rules to build strong reputations for service and safety, tanning salons are still targeted in our litigious society. Commercial insurance covers many risks, but it can be a good idea to take out a specialized Maryland tanning salon insurance policy that is tailored to the unique risks of your tanning business.
What Type of Tanning Salon Insurance Do You Need?
Understanding the details of your policy is important as a salon owners. You must also understand the individual needs that you have for protecting your business. There are several types of Maryland tanning salon insurance policies that are necessary to ensure that your personal and business assets are not put in jeopardy if you are unfortunate enough to be sued by a customer who was harmed or injured in your salon. Some to consider:
- Property insurance - Protect your property, even if you do not own the building in which you do business, with property insurance. This coverage included the expensive equipment in your salon as well as damage that might occur because of theft, fire, smoke, and vandalism, among other perils.
- General liability insurance - Protect your assets from seizure, both on a personal and business level, with general liability insurance. If you have a customer who lodges a claim of bodily harm or property damage due to your business actions or inactions, then this policy is vital to fighting the claim, paying legal costs for your defense, and paying out awards, up to a limit.
- Business owner's insurance policy, or BOP. - A type of blanket insurance that puts a number of policies into one larger policy including property and liability coverage. BOP is a good choice for many salons.
- Commercial auto insurance - Cover the vehicles your business uses with commercial auto insurance. This is like a standard auto policy, but it's for business purposes only.
- Professional liability insurance or errors and omissions insurance - If a client files a claim for losses due to your business' negligence, this is the type of policy that kicks in and pays for any awards given in court and for your legal team to represent you.
- Office buildings
- Worker's compensation insurance - Keep this type of insurance in force to cover employee ideuries or illnesses. It pays wages and medical costs if employees are hurt or become sick due to job-related duties.
The Cost of Tanning Salon Insurance
There is no specific set cost for Maryland tanning salon insurance, since each salon is independent and faces varieties of risks. Some things that insurers look out when determining the premium charged for each salon include the salon's location, the building the salon is housed inside, the safety measures present in the salon, any history of claims against the salon, and any supplemental services offered. The level of coverage desired also matters. Work with a licensed agent to determine how much Maryland tanning salon insurance coverage you need and retrieve quotes from several insurers to find one that meets your budgetary restraints.
Maryland Economic Data And Business Insurance Regulations
Business owners that have their sights set on Maryland should to take a number of factors into consideration before the set up shop; namely, they need to determine if the state offers favorable for business owners in general, as well as their specific industry. After all, it doesn't matter how top-notch the products and services a business offers may be, if the location isn't favorable for the industry - and businesses, in general - the operation is going to have a hard time thriving.
Below, we examine key factors that indicate whether or not Maryland is favorable for business owners. We also look at some of the must-have types of commercial insurance coverage that are required in the state.
Economic Trends For Maryland Business Owners
A state's unemployment rate is key indicator of whether or not the climate is favorable for business operations. As of May, 2019, the unemployment rate in the Old Line State was 3.8 percent; 0.2 percent higher than the national average. In October of 2019, the rate hit a record low of 3.7 percent, so in less than a year, the unemployment rate has increased by .01 percent; a marginal increase. However, there have been gains in recent years; in 2010, the rate was 7.8 percent; that's a 4.0 percent increase in less than a decade.
The best place to start a business in Maryland is in Baltimore, the state's largest city. Suburbs of the city also offer promising conditions for business owners, such as Ellicott City, Columbia, Fulton, Lutherville, and Elkridge.
The state of Maryland offers a friendly culture for business of all shapes and sizes; but, the industries that are see the most success in the Old Line State include:
- BioHealth and Life Sciences
- Advanced manufacturing
- Information technology
- Aerospace and defense
- Financial services
- Energy (specifically green energy)
- Hospitality and tourism
Commercial Insurance Regulations In MD
The Maryland Insurance Administration regulates insurance in Maryland. Commercial insurance is designed to protect business owners from potential perils; it also protects anyone that interacts with a business, including consumers, vendors, and employees. Having the right type of coverage is not only crucial to avoid serious financial devastation in the even that a catastrophe does occur, but certain types of insurance are mandated, meaning business owners must carry specific forms of coverage.
In the state of Maryland, business owners are required to carry workers' compensation insurance, which offers coverage for on-the-job accidents and illnesses that employees sustain, is also required. Other forms of insurance coverage that business owners may need to invest in depend on the specific industry; for example, companies that distribute or sell alcohol will need liquor liability insurance, and businesses that utilize vehicles for business-related operations should carry commercial auto insurance to protect their drivers and other motorists on the road.
Additional Resources For Health & Beauty Insurance
Learn about small business health and beauty insurance coverages that help protect tattoo artists, salons, spas, estheticians, cosmetologists, barbers, hairdressers, nail salons and more from legal liability.
- Barber Hair Dresser
- Beauty Salon
- Day Spa
- Diet Nutrition Services
- Massage Therapy
- Medical Spa
- Nail Salon
- Permanent Cosmetics And Microblading
- Personal Trainer
- Tanning Salon
- Weight Loss Center
The health and beauty industries help people look good and feel great about their appearance and health. Some of the most popular are:
Cosmetologists - typically can help people with hair styling, cosmetics, and manicures and pedicures.
Estheticians - are trained to work with clients to treat skin care issues.
Hair Dressers & Barbers - offer a variety of services such as; hair cuts, styling, perms, hair dying and highlighting.
Health Club - Gyms, fitness centers, and health clubs focus on promoting healthy lifestyles and active living.
Massage Therapy, Reiki & amp; Acupuncture - can help relieve stress and improve your clients health. Work can be done in a salon, medical office, or home based. Also in your client's homes.
Permanent Makeup & Microblading - Offers coverage for permanent cosmetics, pigment removal and lightening, lasers/IPLs, and needling/MCA.
Salons - Similar to spas, salons are offer customers beauty treatments, services and products.
Spas - Have more exposures for the risks of faulty equipment, products, or unskilled employees that can injure customers.
Tattoo - Tattoo parlor and body-piercing coverage is designed to address the specific risks of artists and their studio.
Yoga & Pilates - forms of exercise designed to improve mind, body and spiritual wellness.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income with Extra Expense, Employee Dishonesty, Valuable Papers and Records, General Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivables, Bailees Customers, Fine Arts, Cyber Liability, Employment-related Practices, Environmental Impairment, Liquor Liability, Business Automobile Liability and Physical Damage, Garagekeepers and Stop Gap Liability.
Request a free Maryland Tanning Salon insurance quote in Aberdeen, Adelphi, Annapolis, Arbutus, Arnold, Aspen Hill, Ballenger Creek, Baltimore, Bel Air North, Bel Air South, Beltsville, Bethesda, Bowie, Brooklyn Park, California, Calverton, Camp Springs, Carney, Catonsville, Chillum, Clarksburg, Clinton, Cloverly, Cockeysville, Colesville, College Park, Columbia, Crofton, Cumberland, Damascus, Dundalk, East Riverdale, Easton, Edgewood, Eldersburg, Elkridge, Elkton, Ellicott City, Essex, Fairland, Ferndale, Fort Washington, Frederick, Gaithersburg, Germantown, Glassmanor, Glen Burnie, Glenmont, Glenn Dale, Greenbelt, Hagerstown, Havre de Grace, Hillcrest Heights, Hyattsville, Ilchester, Kemp Mill, Kettering, Lake Shore, Landover, Langley Park, Laurel, Lochearn, Maryland City, Middle River, Milford Mill, Montgomery Village, North Bethesda, North Laurel, North Potomac, Odenton, Olney, Owings Mills, Oxon Hill, Parkville, Parole, Pasadena, Perry Hall, Pikesville, Potomac, Randallstown, Redland, Reisterstown, Riviera Beach, Rockville, Rosedale, Rossville, Salisbury, Seabrook, Severn, Severna Park, Silver Spring, South Laurel, Suitland, Takoma Park, Towson, Waldorf, Westminster, Wheaton, White Oak, Woodlawn and all other cities in MD - the Old Line State.
Also learn about Maryland small business insurance requirements for general liability, business property, commercial auto & workers compensation including MD business insurance costs. Call us (443) 407-0500.