Spa Insurance Ontario

Spa Insurance Ontario 

We all need the opportunity to refresh and rejuvenate in today's fast-paced world, and as a spa owner, you provide a service that allows Ontarians to do exactly that so they can feel—and look—like the best versions of themselves. But your role as a spa owner or spa service provider puts you at risk of serious financial losses in the event that you have legal action brought against you or you are subjected to commercial property damage or destruction.  

While you're helping your clients relax, you can give yourself peace of mind too with the right spa insurance. Ontario spa owners and spa therapists can rely on the experienced brokers at Morison Insurance to help them find the necessary insurance coverage to avoid financial setbacks. No matter what your professional life throws your way, there's spa insurance coverage that can help you address it and get back to business without suffering major losses. 

What is Spa Insurance? 

Spa insurance is a package of liability and property insurance coverages that are designed to address the perils that are most common in the spa industry. If you are sued for a wide variety of reasons or your commercial property and equipment is damaged or destroyed by a disaster such as a fire, you will be forced to deal with the astronomical costs involved in defending yourself in court or repairing and restoring your property. 

With the right spa insurance, Ontario spa professionals can file a claim with their insurance provider to receive financial compensation for expenses such as attorney fees and settlement costs, or the cost of restoring their commercial property and replacing damaged equipment. That means you won't have to pay those expenses out of your own pocket and can handle the aftermath effectively so you can get back to your normal business operations as quickly as possible. 

Who Needs Spa Insurance in Ontario? 

Anyone who is providing wellness and beauty services in a spa setting needs the protection of the right spa insurance in Ontario. That includes: 

• Beauticians 
• Estheticians 
• Massage therapists 
• Medical spa service providers 
• Traditional medicine practitioners 
• Acupuncturists 
• Reiki practitioners 
• Yoga teachers 
• Dietitians 
• Hydrotherapy providers 
• Nail technicians 
• Hair stylists 
• Waxing, threading and sugaring technicians 
• Makeup artists 
• Laser hair removal technicians 
• Eyelash and eyebrow technicians 
• And More 

If you are unsure if you require spa insurance, speak to our Morison Insurance brokers. We will help determine the coverages required.  

What Does Spa Insurance Cover? 

Like most business insurance packages, spa insurance can be broken down into two broad categories: liability coverage and property coverage. Liability insurance applies to situations in which you have legal action brought against you and must defend yourself in court. The reason why you are being sued determines the type of liability coverage you need to receive compensation from your insurance company for legal expenses and settlement costs. As a result, it's important to have the types of liability coverage that align with the legal perils you are most likely to encounter over the course of your career in the spa and beauty industries. 

Commercial Property Insurance 

Whether you run a large spa in a busy commercial location or provide beauty and wellness services independently from your home, commercial property insurance is an important part of your spa insurance policy. Your tools and equipment face numerous potential risks. Extreme weather, fires, vandalism, and theft can all damage the building, inventory and equipment you rely on to operate your business smoothly and offer your services. If you cannot access your commercial building or need costly repairs for critical equipment, it can affect your ability to keep your business in operation and generate income. That can be financially devastating if you don't have the support of the right commercial property insurance as part of your spa insurance package. Depending on how your policy is written and what is included or excluded, you can expect commercial property insurance to offer you compensation for damage or destruction caused by fire, natural disasters, floods, theft, vandalism and more. 

Professional Liability Insurance 

Most spa professionals perform services directly on their clients' bodies and/or provide professional advice and guidance pertaining to the maintenance and wellness of their clients' bodies, and that means it is critically important to include professional liability insurance in a spa insurance package. Professional liability is sometimes referred to as spa malpractice insurance or errors and omissions insurance, and it is intended to address liability-related costs for a policyholder who has a lawsuit brought against them for allegedly causing financial loss to a third party due to professional negligence, bad advice, misconduct, failure to deliver a promised service, advertising injury or breach of contract. 

For example, if you applied a skin treatment to a client's face and accidentally left it on too long, causing chemical burns, the client could choose to take you to court for professional negligence, seeking compensation for medical expenses, pain and suffering and, if the injury affects their ability to do their job, loss of income. You could then file a claim with your insurance provider to receive financial assistance with the costs related to the lawsuit, as well as the cost of the settlement should you be found liable, up to the coverage limits on your professional liability insurance policy. 

Commercial General Liability Insurance 

As a standard part of most business insurance packages, commercial general liability insurance (CGL) is an important type of coverage that offers the policyholder protection against legal and settlement costs related to a third-party claim of bodily injury or property damage. CGL insurance is sometimes called "slip and fall insurance," referring to one of the most common examples of a commercial general liability claim: a third party, such as a client, enters your spa and slips on a freshly mopped floor, injuring themselves. They could then allege that you or your employee caused bodily injury, and you could file a claim on your CGL policy to receive insurance compensation for costs related to the lawsuit, up to the policy limits on the commercial general liability portion of your spa insurance in Ontario. The same applies to third-party property damage claims in the event that you or your employee is alleged to have caused damage to a third party's personal property or belongings. 

Equipment Breakdown Coverage 

Equipment breakdown insurance is a specific type of commercial property coverage that addresses the risk of mechanical breakdown for equipment that you need to run your spa and provide the services your clients are expecting. If your essential equipment suffers a mechanical or electronic failure, your equipment breakdown coverage can provide you with the funds you need to handle repair or replacement costs as quickly as possible and get back to business as usual. 

If you don't rely on expensive, specialized equipment for your spa services, you may assume you don't need equipment breakdown coverage, but keep in mind that this insurance covers equipment you may not have considered, such as your air conditioner. If your air conditioning system grinds to a halt on the hottest day of the year, it's very unlikely your clients will be comfortable indulging in your spa treatments, and your spa insurance provider can help you get it up and running again so you don't have to worry about losing clients. 

Business Interruption Coverage 

If your commercial property or its contents suffer damage or loss, your commercial property insurance will provide the necessary funds to address the situation. However, repairs, replacements, and damage mitigation take time, and during this waiting period you may have to halt client services, which could significantly impact your revenue. At the same time, you still have to keep up with some expenses, such as your commercial lease, employee wages and more, even though you're not able to carry out your day-to-day operations. This is where business interruption insurance becomes essential. As part of your spa insurance package, it offers vital financial support to help you recover lost income and cover ongoing expenses, enabling you to bounce back quickly and focus on your core business operations. It's important to be aware that business interruption coverage usually does not extend to closures mandated by the government for infectious disease control.  

Cyber Insurance 

If you run a spa, you likely transmit and/or store sensitive information such as financial details or even medical records, and while that information is in your care, it's your responsibility to keep it private. If your business is targeted by a cyber criminal and the information is stolen, you could be sued in court for failing to safeguard it adequately. Having commercial cyber liability coverage as part of your spa insurance package not only gives you the opportunity to receive compensation for court and settlement costs, but it could also prompt your insurance carrier to provide you with financial assistance for costs such as notifying your clients of a data breach or even paying a ransom to recover the stolen information. 

Additional Types of Coverage Available for Spa Insurance 

• Event Liability Insurance 
• Product Liability Insurance 
• Legal Expenses Coverage  
• Overland Flooding Coverage 
• Sewer Backup Coverage 
• Commercial Auto Insurance Policy 

Which Factors Determine the Cost of Spa Insurance in Ontario? 

When you request a spa insurance quote, the insurance company will look at a wide range of factors to determine your likely level of risk for a variety of perils, depending on the coverages you need or want to be included on your spa insurance policy. That includes factors such as: 

• Services you provide 
• Location of your business 
• Your experience in business and the spa industry 
• Your insurance claims history 
• Types of equipment you use 

When you speak to a licensed broker at Morison Insurance, they'll ask you all the right questions to collect the information necessary to get multiple spa insurance quotes from multiple insurance companies so you can compare and choose the one that makes the most sense for your unique spa insurance needs. 

How Do I Get a Quote for Spa Insurance? 

If you're working on opening a brand-new spa business and need to find the right combination of spa insurance coverages, or your spa is already up and running but you're not sure your current commercial insurance is offering you the protection you need, the best course of action is to contact our reliable Morison Insurance brokers at 1-800-463-8074 or by filling out the contact form on our website.  

Your best interest is our top priority, and you can trust our brokers to focus on getting you the coverage that is necessary for your protection. Insurance of any kind is complex, and spa insurance in Ontario is certainly no exception. Let us guide you through the entire process and offer you the benefit of our years of experience in the insurance industry.