Key Takeaways: Common insurance myths sometimes deter barbers from investing in coverage that could save their careers in the face of unfortunate events. Here, we’ll confront the most common myths about insurance and discuss what they mean for your barber business.
Building a successful barber career is a rewarding process that can lead to a long career and feelings of achievement. No matter what path you take as a barber, crafting a life that fulfills your dream and helps your clients is an amazing accomplishment.
A key component of forging a successful barber career is protecting your business and livelihood every step of the way. Investing in barber insurance is the best way to do exactly that, but there are still a handful of common myths about insurance that many barbers believe.
Debunking Common Myths About Insurance for Barbers
Insurance is Too Expensive
Insurance is often thought of as a safety blanket that you hope to never use. For barbers and small businesses with limited resources, investing in something you don’t want to use might sound like a poor allocation of funds, but this common myth about insurance could not be further from the truth.
The truth is that many barber insurance companies have affordable policies that offer exceptional value. You can even customize your coverage to fit your needs and budget.
Having no insurance is far more expensive than investing in a proper policy. If you face legal issues, the expense can add up quickly. Setting aside a small portion of your revenue for barber insurance each month is a bargain compared to the damage your reputation could incur, the loss of income a lawsuit could cause, and the setback your career could experience.
I Don't Need Insurance if I'm Careful
You put in the time and effort to receive an education, go through thorough training, and refine your barbering ability. The skills and precision you demonstrate on a daily basis are something to be proud of, but they can’t protect you from accidents, mistakes, and legal troubles.
No matter how talented you are, mistakes can happen. Clippers can slip, products can cause allergic reactions, and a wet floor could turn into a slipping hazard. To take things a step further, your shop infrastructure could experience issues, or someone could steal your equipment.
In other words, there are a myriad of scenarios that are outside of your control. In each of these situations, having barber insurance could save you from a serious headache.
General Liability Insurance is Enough Coverage
Don’t get us wrong; general liability insurance is important. It covers things like slip-and-fall accidents, making it a great place to start when shopping for barber insurance. However, the idea that general liability insurance is all the coverage you need is a perfect example of a common myth about insurance.
In reality, barbers need professional liability insurance in addition to general liability insurance. They should also consider coverage for things like identity theft, cyber attacks, and loss or failure of the equipment they rely on every day.
I Don’t Need Insurance if I Work From Home (or on the Road)
This common myth about insurance for barbers is understandable. If you don’t have a barber shop, why would you need insurance that covers aspects of your barber business typically associated with a shop?
Adding to this myth is the idea that homeowner’s insurance will cover their barbering business at home. Unfortunately, this just isn’t the case.
"No matter how talented you are, mistakes can happen. Clippers can slip, products can cause allergic reactions, and a wet floor could turn into a slipping hazard."
Both mobile barbers and home-based barbers need dedicated insurance for their business endeavors. Professional liability, equipment and inventory protection, cyber security insurance, and more are all must-haves for barbers, no matter where they perform their services.
A Small Business Doesn’t Need Insurance
The proliferation of independent barbers and those with small businesses is part of what makes the industry so unique. It’s a testament to how barbers can support their communities. We absolutely love this aspect of the barbering world.
However, many independent barbers and small barber shops believe that insurance is only for larger companies, and they are sorely mistaken. The size of a business does not play a role in whether it faces risks, lawsuits, or other significant challenges.
In fact, small businesses might be more at risk. With limited resources and an inability to fight through prolonged legal battles, small barber shops could see their business disappear entirely if they do not have insurance coverage to protect them in times of need.
The Truth About Common Barber Insurance Myths
While many common myths about insurance persist, the truth is that barbers need insurance if they are to practice with confidence, thrive long-term, and build successful careers. National Barbers Insurance is a proven insurance provider and resource for barbers of all types, making it the go-to insurance partner for those in the industry.
We also love to give barbers the knowledge they need to succeed. From info about the latest trends to tax season tips, you can equip your barber business for success by subscribing to our newsletter and checking out our blog.
