THink Tech Talk #20: Cosmetic Tattoo Insurance! Are you covered?

Are you insured? No, are you really insured? You may not be.

Being insured should give you a comfortable feeling that if something goes seriously wrong, you’re covered. You’ve paid those premiums and you and your business are protected from a nasty claim against you, or a property loss from theft, fire or flood.

Property loss is fairly straightforward, but you still need to check that your premises and equipment are covered. Check your salon fit-out and all equipment are insured. Even if the damage is caused by a third party (like the tenant next door), it is your insurance that normally responds.

Public liability is more complicated, and just because you have a policy doesn’t mean your are covered for any claim. Here’s some things to check:

• Are the treatments you do listed on your policy (as included, not excluded)?
• Does the your policy require you to be trained/certified in specific treatments?
• Is your equipment to industry standards?
• Are you legally compliant (e.g. infection control qualified, supplies legally obtained etc.)?

People often only get into insurance details when they make a claim, and then may get that sinking feeling if they are not covered. All that boring fine print might tell you up-front, but sometimes what isn’t said is as important as what is.

In public liability claims for treatments gone wrong, the cost could be tens of thousands of $, or worse, particularly when legal costs start. Read your policy carefully and ask your insurer detailed questions. Some insurance companies may be happy to take your money knowing their risk is low because of all the exclusions in the policy.