Tattoo Shop Insurance

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Tattoo Shop Insurance

Tattoos and body piercings, once made only by extreme members of society, are now common among adults of all ages and social classes. In recent years, many new tattoo shops have opened across the country. Almost all of these businesses are small and privately owned. Of course, having this type of business is not risk-free, so it is important that you protect the operation you are conducting with a proper tattoo and piercing shop insurance policy.

Tattoo Shop Insurance

Tattoo Shops in America

  • There are currently more than 21,000 tattoo parlors in the United States.
  • About 45 million Americans have at least one tattoo
  • About 40% of adults between the ages of 26 and 40 have at least one tattoo.
  • Americans spend more than $1.6 billion each year on tattoo services
  • The average cost of a small tattoo is $45.

Tattoo Shop Insurance

Tattoo shop insurance is a special business insurance policy designed to help tattoo shop owners maintain a profitable business. Tattoo insurance providers understand the many risks that come with running this type of business and can create policies that address these risks so that your store can remain profitable even in the face of a disaster or lawsuit.

Whether you are required by law to have tattoo liability insurance depends on the location of your store. Each state sets different laws governing the operation of these businesses. Be sure to check the laws in your state before you start work.

Other situations in which you may need to carry a tattoo business insurance policy are if you have taken out a business loan and it is required by your lender, or if you rent out your store space and insurance is required as your lease term.

Regardless of whether you are obligated to take out this insurance, it is an extremely good idea to have it. Your store faces a number of risks that could potentially put you out of business. A tattoo insurance policy can prevent these dangers from bankrupting your company.

Tattoo Shop Insurance Liability Coverage

Tattoo Shop Insurance Liability Coverage

Tattoo liability insurance coverage is particularly important. Lawsuits against tattoo artists and businesses are increasing as more people are inked. Even lawsuits that are thrown out of court can ruin a business because of the high cost of legal defense. Tattoo liability insurance will protect your business by covering court-imposed fines as well as legal fees related to a covered incident. The scope of liability options you can choose from include:

  • General liability: This will cover any personal injuries or property damage suffered by a customer while at your place of work. The most commonly reported injuries are caused by slipping and falling accidents. It is highly recommended that any company that accepts its clients into their place of business has general liability insurance.
  • Professional liability: Your policy will cover you as the business owner and the named employees in your store. Whenever an employee leaves or a new one is hired, you’ll want to make sure you notify your insurance company. Professional liability covers malpractice when an artist or drill artist needs to seriously injure someone or does work where this is clearly substandard. Given the permanence of tattoos, lawsuits for extremely bad deeds can be expected. Be careful when hiring your employees and then make sure you cover them with this important insurance.
  • Contagious disease liability insurance: Clean equipment and unused sterile needles are extremely important when tattooing and piercing . As a tattoo shop owner, you take great care in maintaining the health of your clients. For example, if a customer gets a blood-borne illness, you can sue. Sometimes these cases have no value at all, but you still have to defend yourself, often at a great cost. This coverage can protect you from such losses.

Forging Shop Insurance Property Damage Coverage

Setting up your tattoo and piercing store requires a large initial investment. Most of the money you spend will go to the content of your business, from furniture to equipment. Without proper insurance, a disaster like a fire  can completely destroy both your business and the investment you’ve made. Fortunately, you can protect your assets with insurance coverage such as:

  • Property insurance: Also known as content insurance, this insurance compensates for losses in your tattoo guns, body jewelry, chairs, tables, and décor. Losses covered usually include those caused by fire, severe weather, vandalism and theft. Some weather events, such as earthquakes, may require additional approvals or drivers for you to have coverage.
  • Outdoor signage and window insurance: Many business policies do not cover outdoor signs and windows, whether on windows or in shop windows. In these cases, you will need to purchase separate endorsements to obtain this coverage. Be sure to check the terms of your policy to find out if you need this supplemental insurance and if it is available through your insurance provider.
  • Building insurance: Most tattoo shop owners rent it out instead of owning the shop space. If you own the building where you run your business, make sure it’s properly covered for fire and fire damage. If you work outside of your home, check with your homeowners insurance provider to find out if you need an additional driver to protect the area where you do business.

Tattoo Artist Insurance

Tattoo Shop Insurance Other Coverage Options

Many tattoo and body piercing insurance policies offer additional coverage options that you as  a tattoo and body piercing business owner may deem necessary. When shopping comparatively, make sure you know all the coverage possibilities that each company offers. Here are some insurance options that may be of interest to you:

  • Apprenticeship training insurance: Most tattoo artists learn their profession through apprenticeship programs. If you offer this in your shop, this coverage will allow your policy to cover your apprentice, including your named employees, within limits.
  • Residency insurance: Similar to apprentice program coverage, this allows you to add an additional temporary employee to your coverage for a limited time. This scope is less restrictive than the scope of the apprenticeship.
  • Coverage at conventions: Sometimes you may want to showcase your talents and do tattoo work at conventions. This coverage will provide you with liability and property damage coverage when working off-site, and is usually requested by hosts if you plan to work at the event.
  • Sexual abuse insurance: Some clients want to have tattoos and piercings in intimate areas. it is important that your business always takes precautions against inappropriate physical contact. Sometimes clients make allegations of sexual abuse, and even if the allegations are unfounded, you will need to get a legal defense. This coverage will provide compensation for any loss of trustee that occurs as a result of a sexual abuse lawsuit.
  • Permanent makeup insurance: If your shop offers permanent makeup services such as lip liner, eyeliner, or eyebrow tattoo, you need to make sure that you cover these services. Eyeliner tattoos, in particular, run the risk of damaging the client’s eye, and this can result in a severe litigation. In order for you to have this coverage, all permanent makeup tattoo artists in your store must be properly certified.
Tattoo Shop Insurance Costs

Tattoo Shop Insurance Costs

Tattoo Shop Insurance Costs

The cost offered of a tattoo insurance policy varies from business to business, but most policies are relatively inexpensive and can usually be purchased for less than $100 per month. This is a small price to pay in favor of protection for lawsuits and loss of property.

The only way to know for sure how much a policy will cost you is to do comparison shopping. The coverage offered by different insurance companies can vary considerably, and while one policy comes in at a better rate, another that is only slightly more expensive can provide much more coverage.

Tattoo parlor insurance policies come with many coverage options. As a business owner, you may have questions about different coverage options or need help deciding which one is right for your business.

Tattoo Shop Insurance Price Research

Be sure to research the following before purchasing coverage:

  • Financial planners: Working with an accountant? If so, this is a great person to talk to about insurance coverage. They have a clear idea of the value of your store and can help you understand what assets you need to protect.
  • Lawyers: From a legal standpoint, there are some things you need to address. Your liability risks can be explained to you by an attorney who understands your business.
  • Colleagues: What kind of insurance protection do your colleagues and colleagues in this business have? Sometimes they can show you an effective way to find the insurance you need.
  • Insurance agents: These professionals always handle commercial insurance policies. Just make sure you find an agent who understands your business and works for a reputable insurance company.