Regardless of whether you own a large, 5-star restaurant, a national restaurant chain, a restaurant franchise or a smaller high street restaurant, Restaurant Insurance is vital cover to protect your business against liabilities, damage or loss leading to large financial losses and reputational damage.
With the high amount of daily public interaction, even if you are following HSE guidelines, it is impossible to prevent all accidents and incidents from occurring. Restaurant Insurance covers you for any eventuality and it is important that you take out the right policy for your unique business needs.
Every customer or employee that enters your restaurant is your responsibility. Public and Product Liability are the bread-and-butter of business insurance policies and provide cover for any compensation or legal fees that arise from claims of accidental damage or injury to a person or their belongings.
Product Liability covers food you serve on the premises and food you sell for customers to consume at home. If you employ anyone, you are legally required to have Employers’ Liability.
Contents cover is also imperative for restaurants to have as it covers everything from furniture to kitchen equipment from damage. If your oven experiences a power surge or outage and is unable to run, the effect on your business is detrimental. You may need to take out additional cover for freezer contents and cash on the premises.
Key covers include (but not limited to):
If you own or lease the building where your restaurant is located, you will need to take out building insurance which covers the cost of repairing or rebuilding the structure of the coffee shop, including damage to fixtures, fittings, and underground pipes or cables. If you rent the property, your landlord is responsible for this cover. Loss of license cover is also available if you sell alcohol on the premises, but it is not included in many standard covers.
If you have live entertainment, such as dancing or live music, you will need to take out additional specialist policies. Finally, Personal Accident and Business Interruption which cover any bills that might accrue if you are out of work due to an injury or your business must close for an extended time.
Restaurants are a major part of the diverse hospitality industry, so it goes without saying that your insurance policy needs to be tailored to your unique business needs. Our specialist brokers have years of experience in dealing with a wide variety of restaurants. From small local pizza shops to multinational chains, they can find the perfect policy to ensure you are protected against every eventuality. Get in contact today for more information.
We will protect your business, properly.
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Konsileo is a registered trademark of Konsileo Ltd (9569872). All insurance and risk advice is undertaken by Konsileo (Trading) Limited (10100499), an independent insurance broker authorised and regulated by the Financial Conduct Authority (FCA). You can check these details on the Financial Services Register by visiting the FCA’s website (www.fca.org.uk) or by contacting the FCA on 0800 111 6768. Our FCA register number is 748287.
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