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Tools and Supplies Coverage

Imagine the heart-wrenching moment when your essential tools, supplies, or inventory, the backbone of your business, are damaged, stolen, or lost. It’s not just the monetary loss but also the disruption to your operations, the potential loss of customers, and the uphill battle to recover. This is where Beauty and Bodywork’s Tools and Supplies, also known as Inland Marine, coverage comes in, providing the protection your business needs.

With the right Tools and Supplies coverage, you can protect yourself from the costs associated with replacing or repairing damaged or stolen business equipment.

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What Is Inland Marine Insurance?

Inland Marine insurance, also known as tools and supplies coverage, is designed to protect the business property, tools, supplies, and inventory that are essential to your business operations. Despite its name, Inland Marine insurance doesn’t solely cover assets transported over water (marine) but rather focuses on items that are stored or transported on land.

What does Inland Marine Insurance cover?

Inland Marine insurance coverage provides coverage for anything that is standard and customary to your industry. It offers protection for movable property, tools, supplies, and inventory that are crucial to your operations. For a beauty professional, this could include dryers, tables, warmers, chairs, kits and sets, bowls, lights, specialty tools, and more! It would not cover anything that is permanently attached to or part of the physical structure such as sinks.

Here are a few examples of the types of items typically covered by Inland Marine insurance:

Whether you create your own sugar scrubs and lotions from scratch or require raw materials for production, Inland Marine insurance can protect these materials against damage, theft, or loss.

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Tools and equipment coverage covers property while it is being transported from one location to another. Whether you’re shipping wax melting pots or massage chairs, this coverage ensures that your property is protected against damage, theft, or loss during transit.

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For beauty professionals that participate in industry trade shows, exhibitions, or events, Inland Marine insurance can cover the supplies, displays, and equipment used in these settings. This includes protection against accidental damage, theft, or loss that may occur during setup, dismantling, or while at the event.

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If your beauty business involves organizing or providing equipment for special events such as weddings, conferences, or concerts, Inland Marine insurance can offer coverage for these items. This includes protection against damage, theft, or loss of equipment during the event or while in transit.

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Inland Marine insurance can also cover electronic payment systems used in your business, whether they are fixed in-store or mobile for on-the-go transactions. This coverage protects against damage, theft, or loss of these valuable systems.

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Computers, tablets, televisions, video equipment, sound systems, and other electronics used in your salon or esthetician booth can be covered by Inland Marine insurance. This protection extends to both in-store equipment and portable devices used for business purposes.

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If your beauty business involves providing services that require specific tools, equipment, or products, Inland Marine insurance can safeguard these items. This includes false eyelash tools, nail files, massage tables, and other tools specific to your niche.

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In addition to the specific examples mentioned above, Inland Marine insurance can also provide coverage for various other business gear. This includes items such as tanning sprayers (machinery), electric nail files (specialized instruments), work phones (communication devices), and other valuable assets essential to your business operations.

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Who Needs Inland Marine Insurance?

If you’re a massage therapist, esthetician, cosmetologist, nail technician, salon and spa owner, or other beauty professional who has any business equipment, then you need Inland Marine insurance. We understand that your equipment is the heartbeat of your business, that is why we offer this insurance add-on.

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How Much Does Tools And Equipment Coverage Cost?

We believe that protecting your equipment should be affordable. This is why it is just an additional $16 to protect your brushes, facial beds, technician stools, steamers, wax warmers and supplies, carts, hot towel cabinets, and more. For that price, you’ll get $2,000 in total coverage for the year (after a $100 deductible).

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How Can I Purchase Inland Marine Insurance?

Purchasing Inland Marine insurance is quick and easy. You can purchase tools and equipment coverage in two different ways. 

  1. Add Inland Marine insurance while filling out the Beauty and Bodywork Insurance application.
  2. Add Inland Marine insurance through your user dashboard at any time.

 

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How can Inland Marine Insurance help your business?

Inland Marine insurance offers several key benefits that can help safeguard your beauty business assets and support your operations:

Comprehensive Protection

By securing Inland Marine insurance, you ensure that your valuable beauty tools, equipment, and inventory are protected against various risks, including theft, damage, vandalism, and other unforeseen incidents. This coverage provides financial support for repairing or replacing these assets, minimizing the impact on your business.

Flexibility and Customization

Inland Marine insurance policies can be tailored to suit the unique needs of your beauty business. Whether you operate in the creation of esthetician-used creams, transportation of massage tables, or any other industry, coverage can be customized to address the specific risks and challenges you face, ensuring that your assets are adequately protected.

Business Continuity

If an unforeseen event, such as a fire, theft, or natural disaster, causes damage or loss to your business assets, Inland Marine insurance can help expedite your recovery process. With the financial support provided by the policy, you can replace damaged equipment, replenish inventory, and resume operations more quickly, minimizing downtime and potential loss of revenue.

Peace of Mind

By having Inland Marine insurance in place, you gain peace of mind knowing that your beauty business supplies are covered. This confidence allows you to focus on running and growing your business without the constant worry of potential asset-related setbacks.

Why Do I Need Coverage For My Tools?

Without adequate coverage for your tools and supplies, your beauty business is exposed to a host of potential risks that can have devastating consequences. From damage and theft to loss due to unforeseen events, the impact on your operations and bottom line can be significant. Protecting your business assets with Tools and Supplies insurance is not just an option – it’s a crucial safety net for your business.

Every day, businesses like yours face the reality of unexpected incidents that can disrupt operations and lead to financial loss. Consider the following potential risks.

Accidents can happen at any time, whether it’s a fire, a water leak, or a mishap during transportation. Without the right coverage, the cost of repairing or replacing damaged tools and supplies can be a heavy burden on your business.

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Unfortunately, theft is a prevalent threat in today’s world. Valuable tools and supplies are prime targets for thieves looking to make a quick profit. If your business falls victim to theft, the financial and operational consequences can be overwhelming.

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Natural disasters, such as wind and rain can cause widespread damage and disruption. In such events, the loss of tools, supplies, and inventory can have a severe impact on your ability to serve customers and generate revenue.

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Imagine a scenario where a customer claims that a product used on them by a technician caused them harm or injury. In such cases, the customer may file a product liability lawsuit against your business, seeking compensation for medical expenses, pain and suffering, and other damages. Legal fees, settlement costs, or court-awarded judgments in product liability cases can easily reach tens or hundreds of thousands of dollars, depending on the severity of the alleged harm and the size of your business.

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Consider a situation where a client or customer suffers an injury on your business premises due to unsafe conditions or negligent actions. They may file a negligence lawsuit, holding your business responsible for their injuries and seeking compensation for medical expenses, lost wages, and other damages. Legal fees, settlements, or court judgments in negligence cases can quickly add up, potentially costing your business thousands or even millions of dollars.

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In certain industries, businesses enter into contracts with clients or suppliers. If your business fails to fulfill its contractual obligations or breaches the terms of the agreement, the affected party may file a breach of contract lawsuit seeking financial restitution. Legal fees, settlement costs, or court-ordered damages in breach of contract cases can vary widely depending on the specifics of the contract and the financial impact on the aggrieved party.

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Examples Of Inland Marine Claims

Listed below are a few examples of tools and equipment insurance claims.

While transporting your waxing tools, a truck pulls out in front of you, causing you to break sharply. Your equipment falls over and the ceramic waxing pot breaks, making it unusable. While at an appointment, an excited customer hurries over to look at their new false eyelashes and in their haste, knocks into your tray and sends your tools crashing to the ground. They all break and you have to replace them. A monsoon hits your salon and causes severe water damage to your facial beds. When giving a facial, you leave the room for a few minutes to grab another tool. When you return you find your client and facial equipment missing. Luckily you have cameras to document the theft.
Examples Of Inland Marine Claims

Listed below are a few examples of tools and equipment insurance claims.

While transporting your waxing tools, a truck pulls out in front of you, causing you to break sharply. Your equipment falls over and the ceramic waxing pot breaks, making it unusable. While at an appointment, an excited customer hurries over to look at their new false eyelashes and in their haste, knocks into your tray and sends your tools crashing to the ground. They all break and you have to replace them. A monsoon hits your salon and causes severe water damage to your facial beds. When giving a facial, you leave the room for a few minutes to grab another tool. When you return you find your client and facial equipment missing. Luckily you have cameras to document the theft.

Safeguard Your Business Today

Protect your tools, supplies, and business assets with Tools and Supplies insurance. Don’t leave your business vulnerable to potential risks, lawsuits, and financial burdens. Protect your beauty business today!

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