Lesson Summary

Before obtaining a professional position, passing state licensing exams and securing necessary credentials from the state licensing board is crucial. This typically involves filling out an application, paying a fee, and meeting certain requirements. Licensing differs from being insured and can only be obtained from the state. Insurance is essential to protect against legal claims such as bodily injury or malpractice, which can be financially damaging to a business.

There are various types of insurance policies that can be invested in:

• General Liability: Covers third-party claims for bodily and property damage.
• Professional Liability (E & O): Covers general liability and negligence related to professional errors.
• Commercial Property Insurance: Protects physical assets from unexpected events like fires or theft.

For insurance options:

• Hiscox USA: Does not require licensing and covers various countries.
• Insured Body Work Insurance
• Beauty Insurance Plus
• State Farm Insurance