PRODUCT: BOP by Salon & Spa Specialty Insurance (SASSI)

COMPANIES: Brownyard Group

BEST RATING: A+

AVAILABILITY: Written on an open-brokerage basis

FOCUS: For smaller salons and spas, business owner policy coverage can help avoid a devastating blow when the unexpected happens. While a fire or break-in is damaging for any business, these events have the potential to drive small salon and spa owners out of business without proper insurance coverage.

This BOP opens up SASSI's quality underwriting to all salons and spas and gives those on a smaller scale access to SASSI's more than 70 years of experience in the beauty services industry.

“The BOP is a great way to help small businesses get much-needed insurance protection. With the combination of our established SASSI program and our new BOP, we can serve salons and spas at all states of growth," says Kathy Lopez, account manager, SASSI. “If or when businesses covered by the BOP expand their staff or service offering, they can grow into the more extensive SASSI program coverage to address their more complex liabilities."

COVERAGE DETAILS: SASSI's new BOP offers a simple program at a low price for small salons that offer basic services or are those just getting started. It offers general coverage at an affordable premium, giving businesses the opportunity to tailor their policy to their specific needs.

On top of general liability and property coverage, business owners have the option to add professional liability coverage, which is designed for the unique needs of a small salon or spa. Policy limits are $1 million per occurrence with an aggregate limit of $1 million for professional liability and $1 million per occurrence with an aggregate limit of $2 million for general liability.

UNDERWRITING: Applicants must include an ACORD 160 application and loss runs or claim history. Those applying for professional liability coverage must include their licenses.

MINIMUM PREMIUM: $500 for general liability and property coverage.

TARGET: Boutique salons and spas with focused service offerings that may not need all coverage available in other specialty insurance programs.

COVERAGE AVAILABILITY: All U.S. states except Alaska and Hawaii.

CONTACT: Kathy Lopez, account manager, SASSI, 21 Maple Ave., Bay Shore, NY 11706; 631-666-5050 ext.162.

Will Jones is IA editor-in-chief.