Your dream of owning
your own restaurant has finally become a reality. You have an
excellent staff, what you believe is the best food in town, and
a location that is sure to bring in customers by the boatload.
As you prepare yourself to open your doors and unleash your
culinary artisanship into the world, you may want to stop and
think about one last aspect of your business. Have you purchased
restaurant insurance to protect yourself and your customers?
Do You Really Need
Even if you know nothing
about insurance and the very word lulls you to sleep, it is
imperative that you consider it for your business. A restaurant
insurance policy will protect you if certain unfortunate
incidents happen that are either unforeseen or out of your
For example, depending on your location, you may be at a higher
risk for sustaining flood or fire damage to your establishment.
You certainly do not want to pay for repairs or replacing items
out of pocket, so restaurant insurance can ensure that you will
have the necessary funds to rebuild your restaurant.
Additionally, a customer may report food poisoning that they
claim was the result of your highest rated meal or an employee
may suffer an injury at work. These individuals will most likely
take legal action and seek compensation for hospital bills,
doctor bills and even lost wages.
are a few of the most popular reasons why you should purchase
restaurant insurance, although the list does not end there. Some
small business owners feel that insurance is a waste of time
because the risk of something bad happening to them, their
employees or their customers is relatively small. However, if
you own a restaurant and you interact with the public on a
day-to-day basis, it is even more important to protect yourself
against a relatively large number of risks, whether you know
them or not.
Keep in mind that it
does not matter what type of restaurant you have. Restaurant
insurance covers all establishments including take-away, cafes,
pubs and fast food outlets. You will want to research individual
policies and insurance companies before making your decision,
but there are a few options to keep in mind when you are
shopping for an insurance policy.
What Types of
Restaurant Cover are Available?
The most important type
of insurance that you can purchase for your restaurant is public
liability insurance. Depending on the size and location of your
establishment, you could see hundreds of customers each day.
What happens if one of them falls and injures himself on your
floor or claims that he got food poisoning because your food was
not cooked properly? Fortunately, if you have purchased public
liability insurance, you will be covered and provided with
compensation to pay for his legal costs, medical bills or any
other damages he may claim.
Additionally, since you are most likely not running the
restaurant by yourself, you will want to research employer’s
liability insurance. You have chefs, greeters and servers all
working under you to ensure that your restaurant runs smoothly.
As an employer, it is your responsibility to provide a safe,
clean and healthy working environment for your employees. All
employers must have at least £5 million in employer’s liability
insurance, as mandated by UK law. Your policy will protect you
if an employee slips and falls, claims that he developed an
illness due to the working conditions or lifts heavy equipment
and strains himself.
While some employers lease their buildings, others are able to
purchase the property with their own money. If you have put your
sweat, tears and investments into your establishment, you may
want to consider buildings cover that will protect your property
against floods, fire or subsidence. These unforeseen occurrences
could destroy your business if you do not personally have the
monetary means to rebuild your restaurant after damage has
Along these lines, if you have invested in the fittings within
your restaurant, you may want to purchase contents insurance to
cover the cost of repairing or replacing items. Stock cover is
also available to compensate you if your food, beverages or
other perishables or contents are stolen or destroyed.
As a restaurant, you most likely keep a significant number of
cash and cheques in your establishment. However, if an employee
steals money from your till, you are robbed or if the money
becomes lost or damaged, research different types cover that
will reimburse you for your finances to ensure that you do not
miss your investment.
Get a quote here
Fletcher and restaurantinsurance.me 2012