If you’re opening a new restaurant or shopping around for a renewal quote, then it’s vital that you make sure all possible financial risks are covered. When you deal directly with the public then the types of risks you could encounter are very different to most other types of businesses.
While there are many specialised restaurant insurance policies available, it is very important that you fully understand what they do and don’t provide.
At Aspire Insurance Solutions we have encountered many restaurant owners that were actually very exposed due to their policy having very limited wording. In many cases, the owners have also just focused on restaurant liability insurance, ignoring all the other exposures.
To make sure that you have the best possible cover with all the necessary policy wording in place, just speak to one of our expert brokers on 1300 886781. We completely understand your business and can make sure you have the right type of cover.
Unique Risks Restaurants Are Exposed To
Having advised many restaurant owners from small family businesses to chain and franchise owners, we have a very unique perspective of what real risks you are facing. These need to be specifically covered under your policy.
Some examples are listed here.
Health And Safety
Regulations in the food producing and serving industry are extremely stringent. You could face an inspection at any time for both food safety and the safety of your working environment.
Whether you fail such a regulatory inspection due to deliberate or accidental reasons really doesn’t matter. You could face temporary closure and heavy fines that pose very real financial risks.
Even with the best stock management processes, it can happen that a spoiled produce makes it into one of your dishes. In a best case scenario this is noticed before anyone gets sick, and you may have to close for a few days to resolve the problem fully.
However, food poisoning is a real risk with some serious claims and penalties that could cripple your businesses.
Quality Advice You Can Trust
If you’re just setting up for the first time, then you’re probably wondering: what kind of insurance does a restaurant need? Or maybe you’ve been running a family restaurant for decades and just want to make sure you get the most competitive premiums.
To make sure that you have the best possible policy cover available, you need advice from brokers who fully understand the food industry as well as the different products available.
At Aspire Insurance Solutions we have the expertise needed to fully stand over the completely free advice we provide you.
Face To Face Service
To make sure that you always receive the best advice, we have tailored our business processes to include a face to face consultation with you. This way you can fully explain how your business operates so that we can identify all the possible risks.
Unlike just going for a convenient online insurance quote, this will ensure that your policy has all the necessary wording to protect your financial interests.
The face to face approach gives both you and your broker the confidence that all possible angles are covered.
Expert Claims Handling With 24/7 Support
When you do encounter a situation that requires you to take advantage of your insurance policy, then you can face a considerable amount of time dealing with claims examiners and assessors.
This is time you don’t have available to focus on keeping your business running. To help you with any claims we have a 24/7 support service open to all of our clients. This takes all the hassle out of the process to keep your focus where it matters most.
Annual Cover Review For The Best Premiums
At the time of each policy renewal you have an excellent opportunity to find out if there are better products or lower premiums available. However, for you to do this by yourself will involve contacting many different insurance companies and then try to decipher the differences.
As a client of Aspire Insurance Solutions, you will automatically receive a full review of your cover on an annual basis. That way you can make sure you always have the best available policy.
And with our access to discounts with many different companies you can even take advantage of lower premiums.
If you’d like to take advantage of our free advice service with a no obligation quote, then contact our team today on 1300 886781. Alternatively you can submit your information in the contact form on this page.
Common Claim Scenarios
With more than 17 years of experience dealing with restaurant owners we have encountered many different claims scenarios. The following are some of the more common ones that can have serious financial implications.
Imagine some water spills on a busy evening and it goes unnoticed by you or your staff. Another reservation arrives in the door and as you show them to their table one of your customers slips on the water resulting in a significant injury.
You will be liable for compensation and medical and legal costs associated that could end up ruining an otherwise successful business.
Even with the best health and safety standards and precautions, accidents can happen. Unfortunately, those accidents can be rather serious when you consider the extremely hot equipment and materials in your kitchen.
Compensating workers for injuries suffered on duty will end up costing you a lot more than your insurance premium.
What Does Restaurant Insurance Cover?
While your own business operations may require some unique add-on cover options, there are a few things that you always want to make sure you’re protected for:
- Fire and perils, covering equipment, fixtures and fittings, and stock
- Flood Cover (Flood Is An Option You Have To Choose Its Not Automatically Covered)
- Equipment breakdown
- Business interruption protection
- Money cover – on premises/at home, and to/from the bank
- Glass breakage internal and external
- Burglary and theft
- Public and product liability is an absolute must
- Management Liability
- Tax Audit
- Cyber Insurance
- Workers Compensation
Contact Us Today
If you have any concerns that your existing policy is not providing the cover you need then talk to one of our expert team members. We will provide you with free advice and a full analysis of your current exposure.
All our quotes are free of charge and you’re under no obligation to take action. However, we’re very confident in the service and quotes we provide that we’re certain you will be satisfied with the offer.
Just dial 1300 886781 to speak with one of our commercial brokers today and find out how much money we could be saving you in the process.