Insurance for fish and chips shops
Has your fish and chip shop got the relevant insurance cover? Find out in our quick guide
Small business owners often have to manage a number of tasks in the day to day running of their operations. Aside from maintaining stock, keeping customers happy, and making sure that everything runs smoothly on their premises, ensuring the financial stability of a business is something that it's important to consider – and fish and chip shop owners are no exception.
Depending on the nature of your fish and chip shop – its products, location, staff and customers, for instance – there could be a range of different insurance covers that you feel may be valuable in protecting your business against certain threats. The types of cover included in an insurance package may differ between chip shops, as different risks will be present for each shop.
The following types of cover are commonly taken out in fish and chip shop insurance policies, and so you may want to consider them for your own business:
- Employers' liability insurance:
If your fish and chip takeaway is staffed, you will almost certainly be legally required to have employers' liability insurance. If an employee makes a claim against you for injury or illness incurred through the course of their working duties, employers' liability insurance could provide financial assistance in paying legal fees and compensation.
- Public liability insurance:
Having public liability insurance in place is good business practice if you interact with the public on a regular basis – as you almost certainly do in your fish & chip shop. If a member of the public were injured - or their property damaged - while on your premises, you could be held responsible. Public liability insurance can provide financial assistance for legal fees and compensation in this situation.
- Buildings insurance:
This can cover the cost of repair or rebuilding if the physical bricks and mortar of your business are damaged, for example from subsidence or flood damage. It is also possible to include extensions to your buildings insurance policy to provide additional protection. One example of such an extension is shop front cover, which could provide financial reimbursement if your glass frontage or signage were damaged.
- Contents insurance:
Contents insurance protects the items within your fish and chip shop, and could even cover damage to equipment and tools - such as your fryers, refrigerators and freezers - that are essential for your business to function. Contents insurance can also include protection for stock - including frozen goods.
- Business interruption insurance:dff
If your fish & chip restaurant is unable to operate normally for a period of time – this could be due to issues such as repair work following insurable damage, or a key supplier going out of business – business interruption insurance could help to reimburse you for lost revenue, as well as cover ongoing overheads.
Which insurance policies does my fish and chip shop need?
As stated previously, the policies that are needed in your fish and chip shop’s insurance package depend on your business’s individual circumstances and the type of risks it may be vulnerable to. For example, the area your business is located in may mean that your shop is susceptible to crime, so you might determine that theft and front of premises cover are essential for your business’s insurance package. Or, you may rely on refrigeration and freezing units to store a large percentage of your stock, and therefore decide that covering frozen goods under contents insurance will be an important inclusion in your fish and chip shop insurance package.
It's important to be aware that fish and chips hop insurance may contain additional cover that is not included in a regular shop insurance package. If you are looking for more general information , or a cheap shop insurance quote, click the link.
Because there is so much variation between different businesses’ circumstances, there’s a good chance that each will take out slightly different policies in order to cater to their individual needs. As such, it’s virtually impossible to say which types of cover would be best suited to your business without first understanding your situation. Deciding which policies your business requires is something our insurance experts will be happy to help you with, and they will even help you find a balance between the right levels of cover and finding a cheap business insurance package.
When it comes to purchasing your fish and chip shop’s cover, you should always make sure that you run a full comparison and fully understand the exact wordings of your policy. Not only does this improve your awareness of the scope and limitations of your cover, but it also ensures that your business is not accidentally left exposed in a certain area. Not having insurance comprehensive enough to account for all eventualities could mean that your business is left in a difficult financial situation should an unexpected event occur.
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