But, most salons have found various ways to tough out the last few years. The range of products and services they supply, and the costs, have changed. A hairdresser that doesn't offer beauty treatments or sale of hair cleaning or grooming products is a rarity nowadays. Most have decided that the wider the range of products and services they can offer, the more likely they are to get customers, both new and repeat.
Another way that the pain has been lessened is of course, cutting costs. Commercial rents have been renegotiated, supplier discounts have been increased and any other product or service that they receive has been reduced to the lowest possible cost.
Salon insurance is one area where the potential for cost saving is great. The difference between business, car and home insurance is not much at all. You have seen the adverts on the T.V. for the past dozen or so years saying that by going to XYZ insurance company someone has saved anything up to £200-£300. Whatever you are told, business insurance is exactly the same. If you shop around enough, you will always save yourself money on your premium. But, the difficulty is, the premium is only half the story. What about the level of cover, the excess, the terms and conditions and the service you get when you have a claim?
These are very important and you really do need to consider these aspects when you are considering moving your insurance cover elsewhere.
You can get salon insurance for less, but the best, and safest way to do this is to speak to a business insurance broker. You may ask why, and the answer is quite wide-ranging. To trade as an insurance broker, you need to apply to, and receive formal authorisation "to trade" from the Financial Service Authority. Without it, we cannot sell any insurance companies products.
So, if you are looking to get a better quote and you speak to a broker, we have to abide by certain rules, regulations and guidelines. One of these is Treating Customers Fairly. We cannot offer you a cheaper quote, without pointing out the differences in cover, if there are any. If you look yourself and visit various different websites that "offer" to compare business insurance, you will not receive any help and advice. All you get is a premium in big red flashing letters, saying "buy me". Then, there will be a small link saying "terms and conditions" or "policy wording" or something similar. It is here that you find whether there are any onerous terms or huge excesses. Go through a broker, and they will point these differences out to you. If they don't and you can prove it, then you have a case to go to the Ombudsman at a later date.