Restaurants and Takeaways Insurance
The restaurant and takeaway industry hums along at a speedy pace. Customers filter in and out and employees run back and forth to meet demand. In all this hustle and bustle, risk management techniques tend to fall by the wayside.
The fast-paced nature of the work, the high volume of customers and the long hours make the restaurant and takeaway industry riskier than one might think. As the owner or operator of a restaurant or takeaway, you understand the industry’s unique risks and the disastrous potential of one simple mistake.
Any number of simple mistakes creates the possibility for employee or third-party injury or damage for which you are liable. Would you be covered in the event of:
- Slips and trips?
- Employee assault by a customer?
- Burns from the deep fryer?
Eliminate the anxiety-inducing guesswork by purchasing a comprehensive bespoke restaurants and takeaway insurance policy. Use this overview to find the gaps in your current cover, which leave your business vulnerable to risk.
Standard Cover for Restaurants and Takeaways
Due to the wide variety of businesses in the industry, insurers typically offer restaurant and takeaway policies with a robust core of standard covers. Optional covers then round out the policies to ensure specific risks for individual establishments are covered. Standard covers generally consist of the following:
- Contents is usually available on an all-risks basis, meaning all contents in the insured premises are covered unless explicitly excluded.
- Public and products liability protects against third-party damage or injury for which you are liable and illness caused by the food or drink that you serve.
- Employers’ liability helps pay damages, legal costs and expenses related to employee injury on-site; it is legally required if you employ workers.
- Business interruption and loss of book debts recovers income and helps your establishment continue operating in the event of an insured loss or damage; loss of book debts insures your account books, business books and business records in case they are lost or damaged.
- Glass covers the breakage of fixed glass and fixed items of sanitary ware.
- Fixed signs offers all-risks protection for all your signs and nameplates.
- Goods in transit insures your contents during transit in a vehicle owned, hired or leased by your establishment.
- Money compensates your business if money is lost in transit, in a bank safe, in your home or on your premises.
- Personal accident (assault) pays for expenses related to a robbery or attempted robbery.
Optional Cover for Restaurants and Takeaways
In addition to the standard core of covers, insurers provide complementary optional covers. These covers are largely based on an establishment’s offerings. For example, frozen food cover will apply to businesses with a freezer, loss of licence will apply to on- or off-licence businesses and household contents is made for restaurants and takeaways that also house owners and their families. This list of optional covers is by no means exhaustive:
- Frozen food
- Loss of licence
- Equipment breakdown
- Household contents
Exclusions for Restaurants and Takeaways
The many different types of restaurants and takeaways cause insurers to qualify their available covers with exclusions. In general, insurers will not insure:
- Stock stored less than ten centimetres above the floor.
- Any loss only discovered during stocktaking.
- Manual work away from your premises other than collection or delivery.
- Deliberate loss or corruption of electronically stored information.
- Theft from unattended vehicles.
- Errors or omissions.
- Deterioration of goods due to faulty stowage, incorrect setting or improper vehicle operation.
- Losses resulting from the failure of a freezer older than 10 years.
- Accidentally switching off the freezer.
Bespoke is Best
Restaurants and takeaways are part of a fast-paced industry. You have just enough time to service your customers. Do not waste any more of your valuable time worrying about your risks and insurance cover. Set your mind at ease with a comprehensive bespoke insurance policy.