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Insuring your takeaway business

Insuring your takeaway business

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One in five Britons have a takeaway meal at least once a week, says the wellbeing website Good to Know, in a post dated the 17th of January 2017 – and, despite what some people might say – they are not always such an unhealthy option.

That is great news for your takeaway business, of course, but despite the apparent abundance of customers, you are still likely to need careful control over your overhead expenses – such as takeaway insurance.

So, what are some of the considerations to keep in mind when insuring your takeaway business?

Why do you need the insurance?

Whether you run a takeaway pizza bar, a Chinese, Indian or any other type of takeaway, or a traditional fish and chip shop, for example, you are likely to have invested a considerable amount in the equipment needed to prepare and cook the food, perhaps even your own premises, and a need to protect your business against a wide range of potential liabilities.

Takeaway insurance provides those safeguards.

What does it cover?

Given that there are so many different types of takeaway, it probably comes as no surprise that the choices and options are similarly broad when it comes to insurance for your own particular business.

Cutting corners may expose you to unnecessary risks and getting it right may be a life-saver for your business, so an important consideration is to consult a specialist provider of such takeaway insurance in this niche of the wider insurance market – not only might this be the path to securing the precise type of insurance you need, but get it at an especially competitive price.

In terms of the cover you may need, the following elements tend to provide the core of many takeaway insurance policies:

Public liability insurance

  • your duty of care towards your customers, passersby and members of the public in general, means that you must take every reasonable precaution against anyone being injured or having their property damaged in the course of your business;
  • if that happens, you may face an order to pay substantial costs in compensation – and takeaway insurance is designed to provide you indemnity against such claims – typically up to at least £1 million of cover;

Employers’ liability insurance

  • do you employ anyone else to help run your takeaway? Then you are almost certain to have a legal obligation to have employers’ liability insurance;
  • this is designed to ensure that you have the means to compensate any current or former employee who suffers an injury or contracts a longer-term medical condition through the work they have done for you – and the law requires you to have at least £5 million of cover;

Premises and contents

  • your premises may be very basic or they may be a solid, brick-built building – but if you own them, you need to protect that investment against a host of risks – such as flooding, fire, impacts, theft and vandalism;
  • even if you do not own the premises, you are likely to have invested heavily in kitchen equipment and appliances, together with the food you are serving, and these need protection against spoiling, loss, or theft under a takeaway insurance policy that covers these risks.

To ensure that your business is ever-ready to take advantage of the undoubted demand for takeaway meals, you might want to give serious attention to the takeaway insurance you arrange.