As an owner of a bustling café you have far more important things to worry about than finding the best insurance available. When you’re working in such an all-encompassing job that can see you serving coffee one minute and managing the marketing of your company the next, it’s understandable why some café owners choose ‘one size fits all’ style insurance policies.
But when your plate is so full, where do you start with your café insurance? And what should you include in your policy? That’s where we can help you out.
The Dangers a Café Can Face
Whilst you’re cooking up a storm in the kitchen, a world of danger can be lurking around the corner ready to close your business at any moment, this includes thieves, fires and, well, storms. With any customer facing business, you’re at risk of both the elements and the general public which can lead to unfortunate circumstances that could force you to close for a day or two, or even worse, permanently. As your main income, protecting your café therefore is vital to your livelihood and should be taken seriously.
Key Components of Café Insurance
The beauty of café and restaurant insurance is the flexible and tailored packages you can receive, built to work around your needs so you only pay for what you want. A customer wouldn’t pay for two slices of cake and only eat one, so why should you pay for something you don’t need? There’s several vital components all good café policies should include, these are:
Stock and Electronic Business Cover
Protecting your stock is obviously vital as a café owner, especially if you serve expensive alcohol or house ingredients that would cause you distress if they were damaged or stolen. With stock cover, you could be provided peace of mind in the unfortunate instance of a claim, with the value of the stock able to be claimed for so you can get up and running as soon as possible.
Electronic business stock cover looks after the items that make your business easier, such as tills, laptops or CCTV. With electronic stock, you can ensure your pricier items that are fundamental to your business’ success are covered in the occurrence of for example theft or floods.
A must have policy for any café owner if you own the building. If you don’t, ensure your landlord has adequate cover so you can rest easy knowing your building is protected. Buildings cover keeps your structure and outposts safe from possible incidents such as fires or floods that may render the building unusable and require long and expensive work to be completed. With comprehensive buildings cover, you could be covered rain or shine.
We’ll focus on two main types of liability insurance, public and employers’ liability. As a public facing entity as a café, public liability should be the cornerstone of your insurance package. Protecting the public and claims bought against you, it can be vital to ensuring your business remains open. Say for example, a member of the public falls in your restaurant and hurts themselves and brings a claim against you. With public liability cover, you could be protected against claims they bring against you, as well as the legal costs.
As an employer, you’re legally required to have employers’ liability to protect your employees against any illness or injuries. You’re required to provide your employees a safe working environment and employers’ liability helps financially support your employees in the event they make a claim.
Another key product, business interruption insurance is a wonderful addition to a café insurance policy that looks after your income in times of need. With business interruption you can rest easy knowing if you are forced to close your business due to an incident such as an accident or theft, your insurance could continue to provide you income so you’re not left out of pocket.
Loss of Licence Cover
Another must have policy; loss of licence covers you, understandably, for if you were to have you license removed from you. In some cases, if your license is revoked, loss of licence cover would protect your income whilst you went through the process of regaining your license, vital in this industry.
Speak to a Local Broker
Of course, the best way to ensure you get a café insurance policy that suits your needs is to speak to a dedicated local broker. This is where Coversure Grantham can help out; with our experienced team, we can understand your needs and provide you a tailored policy, built around everything you need from your insurance.
If you want to find out more about how Coversure Grantham can assist you, please call us on 01476 565 590 or email us by clicking here.