Navigating the intricacies of running a business requires a keen eye on expenditures, especially in today’s economic climate. Barbershop owners often seek cost-saving measures, and one tempting area to cut costs is opting for cheap insurance. However, the allure of a lower premium doesn’t always equate to the best value – sometimes, you get what you pay for.
Beyond the initial cost, several crucial factors deserve consideration when selecting an insurance policy for your barbershop…
Claim Process Efficiency
In the unfortunate event of needing to make a claim, how seamless is the process? How quickly will your claims payment be made? Is there someone available to help guide you through the process? At HJ Direct, we have a fast-track claims facility which can be utilised for various types of claims.
Expertise of Customer Advisors
How knowledgeable are the customer advisors who handle your policy? Do they understand the specific coverage needs of a barbershop owner? Approachability and expertise matter. At HJ Direct, our small but experienced team boasts over 30 years in the hair and barber industry, prioritising exceptional customer service.
Policy Coverage Details
Not all insurance policies are created equal. Scrutinise the coverage of the policy you intend to purchase. Some policies operate on a claims-made basis, only covering claims from incidents that happened during the policy’s validity. While these may seem cost-effective, they
pose challenges. For instance, if a customer decides to file a claim up to three years after a service at your shop, and your policy has lapsed, you might be left unprotected. At HJ Direct, our policies are written on a claims-occurring basis. Even if you’ve ceased trading, a claims-occurring policy would respond to the claim providing there was cover in place when the incident giving rise to the claim occurred.
Keep in mind when selecting your barber shop insurance policy to always look beyond just the price tag.
This is an article in collaboration with HJ Direct Insurance.