Insurance, it’s one of the last things on your mind when you are busy running a busy business, such as your takeaway, but it’s vital in unfortunate situations. Takeaway insurance can be quite a straight forward insurance if you know what your business needs, or if you have an insurance broker helping you find the right cover. To make finding the correct insurance easier we have put together this guide that will cover the basics in what cover options you need to include in your takeaway policy. So no matter what kind of takeaway you run – from a chip shop to a pizzeria – you will have a better understanding of what insurance you need to take out for your business.
If you would prefer to talk to an insurance broker about your policy, you can find your local Coversure office by clicking here. Coversure offices are independent business, so they can offer you independent advice, but they are backed up by being part of Coversure which allows them access to some of the UK’s leading insurers and some exclusive schemes.
If you rent your building you won’t need to worry about this, your landlord should have you covered. If you own your own building this is a vital cover, this cover could protect against costs caused by damage to your building, either accidental damage or damage that has been caused by fire or flood for example.
You want to keep your contents protected, what happens if some of your equipment gets damaged? As you know, a lot of the equipment in a takeaway can be expensive, so having it protected can be critical. With fires and break ins a common risk for takeaway owners, you will want contents cover as part of your takeaway insurance package.
Public liability can be a critical cover for your business. Most takeaways have a high footfall of customers entering their doors and while they are in your shop you are responsible if they suffer an injury that was caused by your business, this could include slipping on a wet floor or burning themselves on a hot counter. While you may put a wet floor sign out or a ‘don’t touch’ sign, it won’t always stop an injury, so you will need public liability cover in place to protect you from compensation pay-outs, or legal expenses that may be incurred while defending yourself.
Employers’ liability is a legal requirement if you have employees, which can make this cover an automatic include for a lot of takeaways. We all know injuries happen which is why this cover should never be ignored, and if an employee is injured in the workplace, or in the course of their employment, you will need to be covered for the costs of compensation or/and legal fees that may be incurred in your defence against the case.
Business Interruption Cover
Business interruption cover can financially protect you against, well, business interruptions. If your business is forced to close for a period of time, this cover could protect your income whilst you get your business back to where it needs to be. There are many reasons why your business can be forced to close, including a fire or flood, and therefore this is a cover your takeaway insurance policy shouldn’t be without.
Do you keep money on your premises? It’s common for a lot of takeaways to have a fair amount of cash on the property during opening hours. This cover protects the money you keep on your property so you should never be out of pocket in the event of a theft, and you can have peace of mind if something unfortunate might happen.
As a takeaway you carry stock and some of this stock can be costly, so stock cover can be a vital piece in your takeaway insurance policy. This could protect your stock against damage, theft or even food stock that becomes unusable in the case of a freezer breakdown.
Need More Help?
Coversure offices can offer you independent advice and can give you great policies for an affordable price, click here to find out why you should consider using an insurance broker, including the many benefits an insurance broker can offer you for your takeaway insurance, or click here to find your local Coversure office.