What Is Hospitality Insurance?
Whether you run a hotel, theme park, restaurant or leisure centre, we can protect it with our range of hospitality insurance packages. We can tailor policies for various hospitality businesses – including restaurants and pubs. If you want to ensure no liabilities get in the way of business success, we suggest speaking to one of our insurance experts, here at The Insurance Octopus.
A Feefo Platinum awarded company with access to the UK’s leading insurers, we help create policies that truly meet your needs. We don’t charge you for insurance you don’t want. We don’t push unsuitable policies on you. With guidance and support, we find the cover that’s right for you.
What may be included in a hospitality insurance policy?
Protecting your fixtures, fittings and business equipment, as well as the products you sell, from loss, theft or damages.
Employers’ Liability Insurance
With standard cover of £10m, this policy protects your staff from injury, and helps them recover with compensation.
Product Liability Insurance
If you sell food and drink on your premises, and they cause harm to customers, we can provide cover for up to £5m.
Business Interruption Insurance
Should you ever need to close for an extended period due to unforeseen circumstances, we’ll cover loss of income during this time.
Understanding Hospitality Insurance
Comprehensive protection for pubs, hotels, restaurants, bars and more
As a hospitality business owner or manager you’re involved in a broad industry with various categories of business all operating within the larger service industry. That could mean you operate a lodgings business, hotel, bar, restaurant, pub, theme park, or any other business within the hospitality umbrella. Whether you own or manage a licensed or non-licensed premise, you are of course aware that you and your business are at risk of potential incidences such as malicious damage or theft, which will need to considered when looking for a personalised business insurance policy.
Choosing the right insurance package to suit your hospitality business is therefore essential. At The Insurance Octopus, we can help you understand your options when it comes to finding the most efficient and cost-effective business insurance policy.
Benefits of having hospitality insurance
When running a licensed or non-licensed business, the potential risks of bodily injury or harm to you, your staff or your customers occurring may increase for various reasons. People mixing with alcohol for example can at times be a recipe for disaster causing a wide variety of problems as you can imagine.
Examples include such as the following:
- Assaults on your staff
- Theft within your business premises
- If you prepare and serve food, a customer may decide they have suffered ill health from eating it
- Staff could be injured whilst going about their everyday duties
At The Insurance Octopus, we cannot stop any of these unfortunate events happening, but we can help you find a business insurance policy that provides the right financial protection for your hospitality business. Whether you’re trading as a restaurant, public house, bar or other hospitality business type, we’ve got the expertise to help find the right cover for you.
Hospitality Insurance FAQs
How can I protect my pubs stock?
If you are looking to protect your pub from loss of stock due to damage or theft, contents cover policy is ideal. Every pub owner knows how important stock is to trading successfully. Without it, your business will likely suffer a large loss in profits. In an event such as a flood or fire your insurance policy will make it possible for you to replace your stock along with covering any damaged contents.
Can you cover me if I lose my licence?
If you lose your licence to sell alcohol due to a circumstance outside of your control, our loss of licence cover will provide you with adequate protection. As licensing laws become more detailed it can result in increased risks for pubs, which could end in a licence being revoked. It is possible to take out insurance which will cover your business against losses from the revocation of a licence.
How much should pub insurance cost?
We know that every pub is different, which is why our insurance allows you to tailor your cover to suit your exact needs. Our expert pub insurance team will ensure you have a business insurance policy which is competitively priced yet offers comprehensive cover. We understand that pubs face a variety of risks, so will work hard to arrange a cost-effective policy.
Can I protect my guests and employees personal possessions?
There is an additional option available to provide cover for loss or damage to your guests and employees personal possessions. This will ensure any valuable items held on the premises such as computers, jewellery, money and sports equipment are adequately covered. Levels of cover differ for the various effects and we will be happy to talk through the options with you.
What level of buildings insurance do I need?
Buildings insurance will provide protection for your bed and breakfast against unforeseen events like fires, floods and storms. The building insurance will cover permanent fixtures such as the roof, walls, ceilings, door, windows, floors, kitchens and bathroom suites. The policy level should cover your bed & breakfast for the cost of rebuilding, rather than its market value.
Customer satisfaction is important to your hospitality business – it’s also important to ours.
Types of hospitality businesses we cover
At The Insurance Octopus, our hospitality insurance is designed for small businesses including: pubs, restaurants, bars, hotels, bed & breakfasts, wine bars, nightclubs and many more. If you operate a business in any hospitality sector then we’ll be able to provide you with the comprehensive cover you and your business need.
Hospitality business risks
Everyday risks can also be associated with natural causes which could result in your hospitality business being temporarily incapable of operating. In these types of situations, your staff could potentially hold you legally accountable which a court of law may also agree. In other situations, you could have suffered serious stock losses as well as a loss of income.
Why choose The Insurance Octopus for Hospitality Insurance?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of public liability cover for Tradesmen – with more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
An expert who knows your industry
We’ll connect you with an agent who is an expert in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
How hospitality insurance works
Examples of Hospitality Insurance in action
A £5,000 food disaster averted
A deli’s power supply was interrupted overnight and no backup power supply was available to take over when the external supply went down. When the staff arrived the following morning, they discovered that thousands of pounds worth of refrigerated stock had gone off. Fortunately, the company’s deterioration stock insurance was there to cover the £5,000 worth of meats, fish and other backup stock that was unsellable following the incident. This made it far easier for the business to get back on its feet following the power outage.
£10,000 tribunal worries resolved
A restaurant employee was dismissed after turning up for work late several times in a row without any good explanation. The former employee took the restaurant owners to court and was able to successfully prove that the company had not followed a fair dismissal procedure that gave him an adequate chance to rebut the allegations that had been made. Fortunately, the restaurant owners had commercial legal expenses insurance as part of their hospitality cover, which covered them for the £10,000 payout that they were required to make to their former employee at a tribunal in order to settle the case.
Types of Hospitality Insurance we can provide
Get Hospitality Insurance off your to do list
Help protect and grow your business with tailor made Hospitality insurance from The Insurance Octopus
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