Expert Strategies & Tips for Buying Spa Insurance

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While there may not be a lot of day spa insurance considerations for spas, you can never be too safe. 

What is Spa Insurance?

Spa insurance is a set of protective business insurance policies you can purchase to ensure the safety of spa-related assets. 

Most places require spas to have one or more types of day spa insurance to operate. 

Additionally, depending on the type of spa, you may need more. For example, a day spa will have different requirements than a mobile spa or resort spa.

A properly insured spa will have very little trouble. It’s when you don’t have medical spa insurance that everything will go wrong.

The best way to protect yourself, your business, your employees, your customers, and even your reputation is to make sure you have all the proper insurances.

Medi spa Insurance covers probable and unforeseeable issues.

Should a Spa Have Insurance?

Spas need insurance. Aside from the basic required insurances, a properly run spa should take steps to protect its property, employees, and assets.

There is a lot of very expensive equipment in most spas and the clientele is often looking to go to an upscale establishment.

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Do I Need Day Spa Insurance?

Most places require spas to at least have general liability insurance, while specific areas may require more, such as property insurance, professional liability insurance, and workers’ compensation insurance

It is generally a good idea to have at least these four types of insurance as they will protect you, your employees, your place of work, and your business as a whole.

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What Insurance Does a Spa Need?

Generally, spas require general liability insurance, property insurance, professional liability insurance, and workers’ compensation insurance.

Workers’ compensation protects your employees, and property insurance protects against damages to the property.

Spa equipment is quite expensive and should be covered. General liability covers you if a customer falls out of a tanning bed, for example.

Additionally, professional liability insurance will protect against claims and lawsuits. Basically, it is used to afford a business a reasonable margin of error.

If a customer is dissatisfied, they cannot sue for something trivial. While this med spa insurance will not cover damages or injury, it will protect against outrageous claims and fraudulent accusations.

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Other Insurance Day Spas May Consider?

Not all spas may want extra coverage, but if they do a good place to start is with business interruption insurance

This type of spa insurance coverage protects against loss during a period where the business cannot operate.

For example, if there is a fire, it will help cover the cost of repair and make up for lost profits while the spa is inoperable.

Last, you may want to check if you can bundle all of these policies on line under one business owner policy, which often times can save you some money. 

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How Much Does Spa Insurance Cost?

The wonderful news for spa owners is that spa insurance cost is quite affordable.

It is one of the cheapest businesses to insure. The estimated average cost of a spa’s annual insurance is only $2630.

That covers the four main types of spa liability insurance.

General liability insurance costs come in at a measly $390 per year, while professional liability costs are around $500 annually, and workers’ compensation is an additional $940 annually.

An average spa business owner’s policy that includes property insurance adds $800 yearly.

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