Face painting insurance, like all forms of business insurance, protects your business against a range of risks that can result in unexpected losses. These risks include:
- Accidental damage to, or the theft of, your business property
- Compensation claims being made against you
- Becoming involved in legal action
- Being unable to work because you’re ill or have been injured
It can be surprising to find out just how much your business property is worth and without that business property, you’d be unable to trade so you’d lose income.
Your business property isn’t just the brushes and paints that you use. It’s also the computer you use to do your business administration, the phone you use to take your bookings and communicate with your clients, and possibly even your business clothing if you do themed face painting in a costume.
Property insurance covers these items against accidental damage or losses due to theft. It’s important to make sure that you insure for the full value of all of your business property because otherwise you could be penalised in the event of a claim. It’s also important to check whether you’re covered if you take items away from your business premises.
Compensation claims are covered by liability insurance. As well as paying any compensation awarded, liability insurance also covers any associated expenses, as well as the legal costs. Your liability insurer will handle any compensation claim made against you on your behalf, which means you don’t have to worry about dealing with solicitors and potentially complicated legal arguments.
There are a number of different types of liability insurance:
Employer’s liability insurance is a legal requirement if you employ anyone, even if you’re only employing them on a temporary or casual basis. It covers compensation claims made against you by an employee.
Public liability insurance is similar, although it covers compensation claims made against you by members of the public rather than your employees. This type of liability insurance isn’t a legal requirement, although it can often be a contractual requirement and many people will not let you operate at their event unless you can show evidence that you have public liability insurance in force.
Products liability insurance is also similar, although rather than covering compensation claims arising out of things that you have done or failed to do, it covers compensation claims arising out of defects in products that you have sold or supplied.
Treatment risk cover
The reason that face painters should consider a bespoke face painting insurance package rather than relying on a standard business insurance package is the fact that the public liability cover in a standard business insurance package will exclude cover for compensation claims arising out of professional activities. This means that many of the claims that could be made against a face painter would be uninsured.
Treatment risk cover is an extension to the public liability insurance section in a bespoke face painting insurance package. It addresses this issue by providing cover for compensation claims that arise out of professional activities.
Legal expenses insurance
If you ever find yourself involved in legal action, you’ll find that the legal fees soon mount up. Legal expenses insurance covers those legal fees and your legal expenses insurer will help you deal with the legal action.
The types of legal action covered by a legal expenses insurance policy include:
- Criminal charges being brought against you
- Tax/VAT inspections
- Disputes with your neighbours or clients
- Employment disputes
Personal accident & sickness insurance
If you’re unable to work because you’ve been injured or are sick, you won’t be able to earn and could struggle to pay your monthly bills.
Personal accident & sickness insurance replaces your lost income when you are off work by paying a weekly benefit. If you are unable to work permanently, a lump sum is payable instead.