Put Some Insurance In Your Holiday Stocking

It is hard to believe that the holiday season is already upon us. Shopping, traveling to see family, decorating, entertaining are all pleasurable aspects of this joyous time. Salons even are able to get into the spirit of the season décor-wise, with beautiful Christmas trees, twinkling lights, piles of brightly-wrapped presents, scented candles and proudly displayed holiday cards.

Of course, between food banks and charities reaching out for donations, plans to travel and window shopping, credit and debit cards often are pushed to the limit this time of year. While none of us want to miss a minute of the celebrations or be less generous, there must be some caution exercised in protecting your business during this time of year.

Many salon owners spread out their insurance premiums, paying a little each month. The monthly amount is set at the beginning of the year, without regard to some extra spending on your part during specific months. Oftentimes, due to the costly nature of the holiday season, there is the temptation to skip an insurance payment. But a late payment or a partial payment could result in your insurance policy being cancelled for non-payment of premium and a lapse in coverage—at a time when you need it the most.

The days are shorter and as darkness descends earlier each day, crime increases. Additionally, criminals know that the holiday season is a prime time to strike because your inventories are at an all-time high in hopes that your clients will give gifts of products from your salon. Similarly, lotions are easy to use in gift sets and baskets, bringing more ancillary revenues to your salon. Your salon is more active, and more money transactions are occurring as your customers tan for holiday parties, New Year’s celebrations and family vacations.

Make sure that you have sufficient coverage and limits. Take a little time out of your busy day to call your insurance agent to have a quick “check up” and review your insurance portfolio. Remember that, in the event of a loss, you want to have replacement cost coverage for everything—your equipment, furniture, fixtures, products and your tenant build-out.

Be sure to pay particular attention to the areas that you decorate. A salon already utilizes a great amount of electricity; don’t overload the circuits. Turn off the lights every evening. Make sure your tree—if it is a live one—stays well-hydrated, and be careful not to stack presents too close to the lights. If you do light candles, blow them out before you close the salon and don’t place them near the tree or presents that could quickly set on fire and demolish your entire business. For the same reasons of fire hazards, don’t keep a tree after the season is over or after it becomes dry and brittle.

Not to sound too Scrooge-like, but it is important to be aware of the perils of the season. Have a safe and happy holiday, and please keep your insurance policy in your holiday stocking.

For more information or to get a quick, no-obligation quote, call (800) 844-2101 or visit www.universalinsuranceltd.com.