Tattoos and body piercing, once done only by fringe members of society, is now common among adults of all ages and social classes. In recent years, many new tattoo shops have opened up across the country. Nearly all of these businesses are small and privately owned. Of course, owning this type of business is not without its risks, so it is important to protect the operation you run with a suitable tattoo and piercing shop insurance policy.
Tattoo and body piercing insurance is a specific business insurance policy designed to help owners of tattoo shops maintain a profitable business. Tattoo insurance providers understand the many risks that go along with running this type of business and can create policies that address these risks so that your shop can remain profitable, even in the face of a disaster or lawsuit.
Whether or not you are required by law to carry tattoo liability insurance is dependent on where your shop is located. Each state mandates different laws governing the running of these businesses. Be sure to check the laws in your state before you open for business.
Other cases where you may be required to carry a tattoo business insurance policy are if you have taken out a business loan and it is required by your lender, or if you rent your shop space and insurance is required as a term of your lease.
Regardless of whether or not you have a requirement to carry this insurance, it is an extremely good idea to do so. Your shop faces a number of risks that could potentially put you out of business. A tattoo insurance policy can prevent these hazards from bankrupting your company.
Tattoo liability insurance coverage is particularly important. Lawsuits against tattoo artists and businesses are on the rise as more people are getting inked. Even cases that are thrown out of court can break a business due to the high cost of legal defense. Tattoo liability insurance will protect your business by covering court-imposed fines as well as any legal fees associated with a covered event. Liability coverage options you can choose from include: