About Our Hospitality & Retail Insurance
Hotels
A hotel business can usually be separated into three key categories: property, staff and guests, and income. When compiling your insurance covers within the policy, you must ensure that these categories are completely protected. For example, buildings and contents hotel insurance will cover your premises from damage, whether from fires, floods or vandalism. Public and employers’ liability insurances will protect you from claims from your staff and guests should any incident arise. Business interruption insurance covers any lost income from any of the issues mentioned above. Hotel Insurance encompasses all of these covers. You can add more depending on what facilitates your hotel has, such as gyms and swimming pools.
Do I need Hotel Insurance?
All hotels are unique; whether that’s through the number of guests it can accommodate, the facilities it offers or the type of building it is. But one thing is the same with every hotel, and that is the need for hotel insurance. The hotel industry involves the coming and going of numerous guests, with ever-changing faces, regular damages, compensation claims, complaints and more, which means you need to protect yourself against any possible situation.
What does Hotel Insurance include?
- Public Liability – Potentially the most important point on this list, public liability protects you from any legal claims made by the guest regarding an injury or poor service. Insurance will pay for your court legal fees and any compensation should the claimant win the case.
- Employers Liability – If you plan to hire employees, you will need this cover to protect you against employee claims such as wrongful dismissal or injury during duty.
- Building Insurance – This is an obvious addition considering how much use the rooms inside a hotel are subjected to. This insurance protects the building from costly repairs and damages.
- Business Interruption – Should disaster strike and your hotel needs to shut for necessary repairs or refurbishments, this interruption cover will protect your income during this period.
Restaurants
The running of a restaurant comes with some unavoidable risks, so it’s safe to have some insurance cover protecting your business, contents and staff.
Why do I need restaurant insurance?
Your restaurant, at its core, will be a business premise consisting of attractive décor, expensive and essential kitchen equipment and a well-run business that keeps the customers returning time after time. But, should a disaster take some of this away, would you be financially covered to replace it all without insurance? Not many people
would be, which is why they opt for insurance that protects all of these things.
Also, consider the litigious society we live in, where we find people very quick to blame another for an accident or injury. Defending a compensation claim in court can be extremely costly, so are you prepared for that? Or, would it be sounder to attain some liability insurance that would cover all of these costs?
What type of insurance do I need for my restaurant?
There are quite a few different insurances to consider for your restaurant, and we have listed them below:
Public Liability Insurance – This will protect you from any claims made against you from a customer about things like becoming ill after eating at your restaurant or taking a fall within your restaurant. In addition, the insurance will cover any legal fees and any necessary compensation that may be paid out to them.
Business Contents Insurance – This is a key inclusion for most restaurants due to the amount of equipment and furniture throughout the restaurant. Should any of it become damaged or even stolen, they can be replaced monetarily by the insurance company to reduce the amount of interruption to your business.
Employer Liability Insurance – This protects you from any claims made from your employees about things like wrongful dismissal, and just like public liability, it will cover the court costs and any applicable compensation.
Business Interruption Insurance – This will help cover any lost earnings during periods that your restaurant can’t open its doors to customers due to any adverse incident such as damage or theft.
Building Insurance – This covers the cost to repair the building from any damages caused by the weather, vandalism or anything else. Essentially this is for the structure of the building and not really for the cosmetics of it.
Cafes
Owning your own Café can be the dream for many people, and it’s a very rewarding business to run as you begin to develop relationships with customers and local suppliers. However, this dream can become a nightmare if you don’t have the proper insurance to protect your business.
Café insurance policies cover things like claims made against your business in the event of injury to a customer at your café, and if you employ staff, it can cover claims made by them too. On top of this, you’ll need things like contents and buildings insurance and business interruption insurance to cover you from all angles, and all of these different types of policies can be rolled into a single premium with most providers.
Here’s a breakdown of each of the key aspects of café insurance and why it makes sense to attain them:
Building Insurance – If you are the owner of the building that your café resides in, buildings insurance is a must-have feature of your policy. This will cover any structural damage caused to the building, whether that be caused by weather or by vandalism. If you are only the tenant within the building, you won’t need this type of insurance as this will fall under the remit of your landlord.
Contents Insurance – Cafés tend to run on quite a lot of equipment, from coffee machines to fryers, so don’t leave your customers hungry when they break down! Contents insurance will cover all of the essential business equipment within your café and pay to replace them should
they become damaged.
Employers Liability Insurance – If you employ people in your café, it is a legal requirement to attain employers’ liability insurance which offers both you and your employees protection should they become ill or injured while working in your café.
Public Liability Insurance – Public liability insurance protects you against claims should anyone injure themselves on your premises or their property becomes damaged as a result of your business. If they take you to court, this insurance will pay all of the legal compensation fees involved.
Business Interruption Insurance – Even having to close your café for a few days can be damaging to your business due to the loss of income, but sometimes this is unavoidable. Business interruption cover will ensure that you receive that lost income even during necessary closures.
Shops
Of course, shops must hold as much stock as possible to best serve their customers, whether this is a small niche store or a popular grocery store. They also must have specific equipment that ranges greatly depending on the industry, along with a stable building to trade-in. Lose any of these things, and your shop isn’t very attractive. With that in mind, you must ensure that everything is adequately insured in full to protect you against any unforeseen emergencies.
What does shop insurance cover?
Public Liability Insurance – This covers you in case anyone has an accident within your shop and pays any compensation and court fees involved with it.
Employers Liability Insurance – This covers you if your employees become ill or injured while on the job. This will cover things like the wages paid to them while they recover.
Building Insurance – If you own the building that your shop resides in, you’ll need building insurance to protect the structural integrity of the building. Should there be any damage inflicted upon the structure of the building, such as the roof, the insurance will pay out for it to be fixed.
Shop Contents Insurance – Contents insurance is a little different to the stock insurance that we’ll look at next. Contents insurance covers fixed fittings like fridges and till systems. Should any of them become damaged, the insurance will pay for them to be fixed.
Stock Insurance – Stock insurance covers the unsold stock within the shop in the case of damage or theft. This will pay for the cost of the stock to you to allow you to replace it should an incident arise.
