According to the U.K. National Health Service, a mole cut off during shaving is usually harmless. Surgical treatment is possible to address the wound, but it can be expensive. The surgical removal of a mole is known as a shave excision and sometimes involves cauterization to close the wound.
The most important issue with moles, as the NHS states, is whether or not the existing mole changes shape or color. If it does, one should immediately seek medical attention. Melanoma, or skin cancer, is a possible complication from mole changes. Uneven coloring, ragged edges and bleeding are indicators. Additionally, a mole that suddenly grows in size is cause for concern.