Insurance for freelance makeup artists is no different to insurance for any business. If you don’t have makeup artist business insurance then you are putting yourself and your business at risk.
According to a report from 2015 by the Insurance Council of Australia 21.4% of small home operated businesses are not insured and 10% admit to being under-insured!
In these instances, it may take just a single incident to financially ruin your business. So what sort of things could happen that makeup artist business insurance can protect you from?
- A client has an extreme allergic reaction and sues you
- Your kit is stolen, damaged or is lost
- You are in a client home and you accidentally break an expensive household item.
- An equipment failure causes an electrical fire
- You put your hair straightener on the client’s $5000 table and burn the tabletop
Difference between a sole trader and company.
Most makeup artists I know operate as a sole trader, this means that you (the proprietor) and your business are the same entity. So if your business is sued then you are personally liable and your assets (your home and personal savings) can be at risk.
Note that if you have established your business as a company then the losses stay within the company so the risk is reduced but is not eliminated.
Types of Insurance
So now that I’ve scared you about why you need business insurance lets take a look at the different types of insurance that a typical freelance artist business might need.
|Type of Insurance||Description|
|Products Liability||Cover will protect you against claims in which products that you use on or sell to a client causes damage, injury or death|
|Professional Indemnity||This protects you from legal action taken against you if someone suffers a loss as a result of your receiving your service.|
|Public Liability||Covers your business for legal costs and compensation costs that you might have to pay if you are found liable to someone because you caused injury to a person as well as loss and damage to their property.|
|Portable Valuables||You may want to take out this type of insurance to cover the cost of replacing your kit in the event it is stolen or damaged.
Note that you will want to check if you are covered when someone takes your kit when it is not secured. That means if you duck out to the toilet and someone runs off with your kit. This is sometimes an extra cost!
|Workers Compensation||Workers’ Compensation insurance is compulsory in all states and territories for businesses with a certain number of employees. Note that each state has different rules about when this is applicable.|
Note that if you operate from a Salon then there are other types of insurance that you would need in addition to those listed above such as Workplace Insurance.
Go and get yourself covered!
If you don’t have insurance for your makeup artist business then I highly recommend that you go and get a quote ASAP.
I know that having insurance for my business helps me sleep better at night knowing that I am covered in case something bad happens to my business.
Disclaimer – I am not an insurance specialist so please ensure that you seek advice specific to your situation. If you need advice then you can seek out qualified advisers in Australia through the Insurance Council of Australia. In the USA you should check out the advice provided by SBA.