ShearShare Insurance

ShearShare is Taking Hairstylist Insurance Off The Chopping Block

This article was originally featured on Business Insurance.

ShearShare, a McKinney, Texas-based marketplace connecting hair stylists with salon owners, is cutting costs on traditional professional insurance policies, which some stylists forgo because of the costs, according to an article in Inc. magazine.

This month it made public a new partnership with Lloyd’s of London to offer to ShearShare stylists short-term professional liability insurance that can be purchased for day-to-day coverage, the article says.

Professional liability for hair stylists could cover a chemical left on the hair for too long or a client who is extremely unhappy with a cut and can show that it’s not what he or she asked for, according to the article. 

Stylists can buy the insurance — which costs $5 a day and covers stylists for up to $1 million of liability — for the days they are working at booths booked through ShearShare, rather than paying $169 to $259 in advance for an annual policy.