As a busy restaurant owner, you won’t want to sweat the small stuff. You’ll want to buy insurance for your restaurant quickly, as cost effectively as possible and without compromising on the cover. So, how do you achieve that?
The golden rule – as with most purchases – is to shop around. The easiest way to do this may be via using an online specialist who has access to this niche cover who can do all the leg work for you and find the most suitable options for you to choose from.
Alternatively, you can compare business insurance policies yourself. So, what do you need to look for?
Note that most policies offer core cover, then you add on any extra components required. A typical policy may look something like the following – a mixture of core cover plus add-ons:
- Buildings insurance – covering the shell of the premises
- Contents insurance – this covers the business’s possessions
- Fixtures & fittings – you no doubt may have a high specification kitchen which may need its own individual cover within the policy, plus need cover for carpets, flooring etc
- Front of premises – such as the shop front
- Employee theft – if a member of staff is dishonest, this will help deal with the ramifications
- Loss of licence – if you lose your licence due to an insured event as detailed in your policy documents, this will help recoup some of the loss of earnings
- Public liability – should a guest or anyone suffer loss, damage or illness due to being on your premises, this will help with court costs and any awards
- Employers’ liability – covering any costs associated with an employee suffering loss or damage while going about their day to day role
- Business Interruption – should an insured event mean you need to close down for a while (eg a fire), this will help recoup some of the loss of earnings
- Stock cover – replaces any stock lost or damaged due to an insured event.
By making sure you have every angle covered when looking for restaurant cover, you can feel confident that your livelihood is adequately protected – and concentrate on cooking great food for your customers!
