Package Policy
What Is Package Policy Insurance?
A package policy bundles multiple business coverages into one policy. Think of it as a service package, effortlessly combining the insurance you need to stay protected.
Beauty & Bodywork Insurance (BBI) combines general and professional liability coverage, with optional add-ons, into one base policy.
Why It Matters for Beauty and Bodywork Professionals
Running a beauty or bodywork business gets busy. A package policy streamlines your coverage, so you can spend less time managing your insurance and more time helping clients.
- Fewer headaches: Apply for and purchase coverage once, without having to handle multiple policies or renewals
- Contract-ready: It’s easier to add additional insureds and any required wording that applies to all the package policy’s coverages
- Often better value: Bundled pricing can be more affordable than buying separate policies and helps reduce accidental coverage gaps
- Clearer protection: Your policy may include coordinated limits, exclusions, and endorsements across coverages you actually use
What’s Typically Included in a Package Insurance Policy (& What’s Optional)?
A package insurance policy for beauty and bodywork is tailored for your industry. Here’s what it commonly includes and what you might want to add on.
Common coverage inclusions:
- General liability: Covers third-party bodily injury and property damage; includes fire legal liability and medical expenses coverage
- Professional liability: Covers alleged mistakes in services, techniques, or advice
Optional add-ons you might see:
- Tools and supplies (inland marine): Covers your movable business personal property in case of theft or damage
- Cyber liability insurance: Helps pay for your business to recover after a data breach
- Service endorsements: Extends coverage from your base policy to include specialized treatments, like cupping or microcurrent facials
- Sexual abuse and molestation insurance: Supports your business if you’re accused of acting inappropriately with clients
- Additional insureds: Protects qualified third parties (like a landlord) from claims related to your business operations
Package vs Standalone Policies: What’s the Difference?
A package policy combines essential coverages, while a standalone policy offers just one type of coverage.
Swipe →
| Aspect | Package Policy | Standalone Policies |
|---|---|---|
|
Applications and billing |
One application, one bill, and one renewal date |
Multiple applications, separate invoices, and staggered renewals |
|
Pricing |
Often, a discounted bundle |
May cost more overall |
|
Consistency |
Coordinated limits, exclusions, and endorsements |
Risk of mismatched terms or coverage gaps |
|
Contract compliance |
Easier to add additional insureds and required wording in one place |
May require endorsements across different carriers |
|
Admin effort |
Lower: one dashboard to manage your policy |
Higher: multiple service policies, certificates, and support teams |
|
Flexibility |
Select optional add-ons to enhance your package policy |
Pick and choose carriers to purchase from |
How to Check if a Package Policy Meets Your Insurance Requirements
Here’s how to check if a package policy checks off your insurance requirements.
1. Match your contracts
- Limits: Per-occurrence and aggregate limits should meet or exceed venue or landlord specifications
- Endorsements: Your insurer can issue additional insured or waiver of subrogation wording if needed
- Dates: The effective and expiration dates cover the event or lease term
2. Confirm your service fit
- Covered services: The policy doesn’t exclude any services you offer
- Locations: Your exact work location (or on-the-go services) are covered
3. Check covered property details
- Tools and supplies limits: Understand your overall limit, any per-item caps, and off-premises sublimits
- Deductible: Know the exact dollar amount and how it applies
- Documentation: Take note of requirements for receipts, photos, inventory lists, or police reports for theft claims
4. Ensure the policy works for you
- You can download or edit your certificate of insurance online
- There’s a clear process for endorsements (like name changes or new locations)
- There’s a licensed, non-commissioned support team ready to help you
Additional Resources
Related Terms
- Additional Insured
- Endorsement
- Deductible
- Certificate of Insurance (COI)
- Effective Date
- Expiration Date
- Inland Marine Coverage (Tools and Supplies)
- General Liability Insurance
- Professional Liability Insurance
