Pub and Restaurant Insurance – The Importance of Comprehensive Cover for Licensed Businesses

For licensed premises such as pubs, restaurants, bars, social clubs, hotels and bed and breakfasts, getting a comprehensive insurance plan is an absolute necessity.

Any establishment where food and alcohol are served needs to be covered for a number of unique factors. What if a customer is injured after slipping on a damp floor and decides to sue for compensation? What if there’s a burglary and you lose all of your stock? What if you unexpectedly find yourself without a license, if it’s not renewed or is withdrawn due to circumstances beyond your control? What if a customer gets a serious bout of food poisoning after eating at your restaurant and consequently takes legal action?

These are just a few of many possible scenarios that need to be considered when arranging pub and restaurant insurance. When dealing with public-facing businesses such as this, cutting corners and opting for generic cover is a recipe for disaster. Not to mention it’s not good for your stress levels constantly fearing something will happen and that you won’t be protected when it does.

Bespoke Small Business Insurance Plans for Restaurants and Pubs

Important elements that should be included in a comprehensive small business insurance plan for licensed premises are:

  • Employers liability insurance covering you for up to £10 million should a claim be made against you from a member of staff
  • Public and products liability insurance for claims up to £5 million from third parties
  • Business money covering cash held on the premises, as long as it’s stored securely in a safe
  • Buildings cover for damage to buildings, outbuildings, fixtures and fitting
  • Contents cover for stock kept on site, customer property, computers and other electronic equipment, and the deterioration of stock (for food servers)
  • Loss of license covering the financial setback of having a license withdrawn
  • Business interruption coverfor any income lost as a result of damage to the premises
  • Residential accommodation cover for personal contents and belongings if you live on the premises, or if the business has guestrooms

There are too many risks to not have the right cover in place. Getting a bespoke insurance package created by experts at The Insurance Octopus ensures you’re prepared for a variety of problems that could occur.

Get in touch now and we’ll find you the best deal for your business.