Permanent Makeup Insurance in Massachusetts
If you are now looking to take advantage of the great increase of interest in permanent makeup cosmetology in Massachusetts, one of the main things you need to do first is to take out the proper permanent makeup business insurance.
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A permanent makeup artist has special requirements when it comes to insuring yourself against its particular risks.
Studies of the business levels of permanent makeup clinics have shown that they generally earn higher rewards for their owners than the average for similar small businesses in Massachusetts with annual profits about ten percent higher than the average for all small enterprises.
Looking in even greater detail indicates that the increase in earnings may be even higher in Massachusetts because of the population growth and rising affluence.
However, along with the extra earnings potential comes an increase in risk and only the right level of permanent makeup business insurance in Massachusetts can fully protect you and your investment.
What are the permanent makeup services most in demand in Massachusetts
There is a balance between the many services of the market for permanent makeup and semi-permanent makeup artists in Massachusetts.
To understand which one of these is more in demand in Massachusetts, consider each one’s features, which are:
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- Semi-permanent makeup for eyebrows which is also called microblading. It is administered with a hand-held tool that injects the dyes into the outer layer of the skin to reshape or enhance their shape and color.
- Permanent makeup treatments around the eyes for eyeliner and tightlines produce longer-lasting results than microblading because pigment is deposited using a special machine into the dermal skin layer.
- Treatments to enhance the shape and color of the lips, to color facial areas like the cheeks, and to mask scars both from accidents and surgical cuts, and birthmarks.
What is making permanent makeup clinics so popular in Massachusetts?
There are three main attributes of the population of Massachusetts that have been pushing up demand for permanent makeup services:
- Increases in the average age of the population of Massachusetts make for a larger proportion of people who need help in applying makeup because of their poor eyesight or shaking hands. As well, as a result of more plastic surgery procedures being performed, there is a need to camouflage scars. People who are undergoing treatment of cancers also need help to restore their hairline.
- The strong growth in the proportion of women in full-time work in MA has made them appreciate the time they save each day by using permanent makeup instead of having to devote as much as an hour every day applying it in the morning and then removing it at night
- Massachusetts has a sports-mad population, and people are looking for ways to play their favorite games without their makeup streaming off as they sweat.
What kinds of insurance does a permanent makeup business in Massachusetts need?
Every business faces risks and needs basic insurance cover for protection. In general, a small business in MA should take out standard policies to protect against:
- Claims of liability
- Damage to or loss of the assets of the business
- Accidents to workers on the job
What are the possible liability claims against a permanent makeup business in Massachusetts?
All businesses are subject to liability claims in Massachusetts. These can come from three types of events:
- Third-party claims of accidental harm, damage of loss. As soon as a member of the public steps foot into your permanent makeup clinic or office in Massachusetts, you can be held responsible for any accident that harms of causes a loss to them. An example could be when a person trips over a box lying in a passage. Suppose they sustain an injury or they then drop a parcel they were carrying and the contents are damaged. You can be sued for all medical costs, post-medical treatment, lost income when laid-off, the value of property lost or damaged, and many other possible costs. To cover yourself and your company, you must take out General Liability insurance in Massachusetts.
- Claims from a customer for incorrect, careless or wrongful treatment you have given. This is known as Professional Liability insurance, and is especially important for your permanent makeup business because you are dealing hands-on with your customers’ bodies. Any errors and mistakes can lead to a claim of professional liability or misconduct.
- When you are selling skin-care or post-treatment creams, ointments or oils to your customers, you are subject to the specific laws of Product Liability laid out in Massachusetts.
In all three cases, the insurance gives you protection both for the claim itself, and for any associated legal costs if the claim comes to a court for judgment.
How should you protect your business’ assets?
Whether you own or rent the property you are working out of in Massachusetts, you need to cover the value of the premises against natural disasters like floods, storms, earthquakes and also against man-made actions like arson and vandalism. Businesses in this city usually take out either Commercial Insurance cover, or can choose a broader cover that includes the inventory as well that is available with a more comprehensive Business Owners Policy BOP.
A properly set up permanent makeup clinic in Massachusetts needs to invest in the latest equipment for applying the treatments, and also have modern furniture to make the best impression on your customers.
This will require investment of quite a bundle of money, and it needs to be protected in case of accidents, fires, theft and all the other possible losses.
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This requires Equipment Insurance and it’s essential to keep this up-to-date to reflect the replacement cost of the special equipment since prices and demand are growing all the time.
If you are making any use of a car or van in business activities in Massachusetts, you certainly need the minimum level of cover for third-party claims and you are well advised to take out comprehensive Commercial Vehicle insurance.
It’s just as important to have this cover if you are using your own private car in business activities, since the vehicle is not going to be covered by a private policy in case of any accident or loss.
Do you need Workers Compensation insurance?
The definition of what is a “worker” in Massachusetts is set in its laws and includes casual, part-time and sub-contractors.
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The numbers that you have to have working for ou before you have to have workers compensation cover, and the rate you have to pay, are set by decree which means they can change all the time.
You should consult with a qualified broker, accountant or insurance agent to advise you on the proper procedures for your own business in Massachusetts.
What level of permanent makeup insurance in Massachusetts should you be taking, and what does it cost?
It’s not possible to give you complete and absolute figures because many factors affect the levels of insurance you should be taking out, and also how much you will have to pay. Some of these are:
- The location of your business – street-front premises generally have higher risk of natural damage like storm and flood, as well as man-made events like theft or arson and so need higher levels of cover. On the other hand, a clinic inside a busy mall has much higher levels of casual traffic, and so has more exposure to third-party accidents and needs more liability insurance.
- The size of your business, your own levels of training and expertise, your claims history and many other factors will affect the premiums that you will be changed
The following is a general guide of what you should be looking for in terms of levels of cover, and roughly how much you can expect to pay minimum and maximum in Massachusetts:
|Types of insurance||Price range|
$2 million total for one year
$1 million single incident
|$885 – $1290|
Based in vehicle’s value
|$1230 – $3390|
Per $50,000 in value
|$105 – $145|
Per $500,000 value
|$70 – $95|
$60,000 full year
$30,000 single claim
|$625 – $775|
$1 million single incident
|$510 – $790|
How to better understand the specific insurance requirements for a business like yours in Massachusetts
It may not always be possible to find out directly about what other permanent makeup businesses in Massachusetts are doing to cover their insurance needs.
That may be because you are one of the first moving into the market, or maybe just because the existing ones would be reluctant to give you any help.
However, there are many businesses that offer very similar services in the cosmetology and personal health and fitness fields.
You could ask around in Massachusetts amongst the fellow business owners operating in fields like:
As well, you can get expert advice from insurance agents and brokers who have deep knowledge of the market in Massachusetts. Make sure to talk to as many of them as you can, and don’t jump into a decision before you get the whole picture.
Is it worthwhile to get temporary insurance for a part-time permanent makeup business?
If you are now running a part-time permanent makeup artist business in Massachusetts where the demand is seasonal, short-term insurance is the right option.
You can take out cover only for the months or weeks when you have enough business. over a whole year. You are only paying for the period of cover you need by purchasing the cover for a defined period – for example for the three busy months in Massachusetts that begin on a specified date.