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A guide to getting the right cover for your pub
If you run a pub, you’ll be well aware of the risks involved – any venue in which alcohol is consumed not only comes with an increased likelihood of property damage and theft, but the potential for injury to both staff and customers is also amplified.
While having the right pub insurance in place won’t help to avoid any situations that might put your staff, customers, property or even yourself at risk, it can offer the financial support in case you do find yourself facing unexpected costs following an unfortunate situation. Having cover in place with an insurer who works hard to uncover fraudulent claims that can potentially be brought by customers who slip, trip and fall, can help prevent damage to your reputation, too.
Insurance for pubs isn’t technically a standalone product, but rather a package of cover designed to offer your business all the protection it needs against a range of risks, from theft to personal injury.
Although the type of cover you take out will depend upon factors such as the size and location of your pub, its opening hours, and whether you live on site, there are certain policies that are likely to form the basis of any pub insurance package.
There are a number of risks that your pub could face on a day to day basis - and there are a range of insurance covers intended to address each one of these risks. Some of the key ones include:
Aside from core forms of cover, a properly comprehensive pub insurance package should protect against smaller risks, too, as they may still have the potential to put your pub in a difficult financial position. For instance, consider the following situations:
The most obvious way to affect the overall pub insurance cost is to take out the bare minimum level of cover in order to drive prices down, but in doing so you may be leaving your pub and yourself exposed to any number of other unexpected risks. It could be said that the money you do spend is wasted because the risks your business may be vulnerable to simply aren’t covered. It’s recommended that you don’t just focus on trying to get cheapest price you can, but instead compare pub insurance quotes to make sure you have all the cover you need at a price that suits your budget.
The size and location of your pub may also have an effect on price – for instance, a small country pub that hosts a few regulars could expect to pay far less than a city centre pub that entertains students. Conversely, if the country pub suffers from a fire it may take the fire brigade longer to arrive than in an inner city – which could increase the amount of damage suffered. These are the kinds of considerations that an insurer may take into account when quoting you.
The amount of excess that you pay on the policy can also influence price. If you are prepared to pay more up front in the event of a claim, you’ll usually be rewarded with a lower premium – though problems can arise if you can’t afford to pay the excess in the event of a claim, and your pay out may even be refused.
An analysis of your pub and its circumstances is needed in order to quote and cover you effectively. This is because there may be some forms of protection that you are legally required to have in place, and others that you may choose not to purchase, as the risks they protect against may not apply to your business.
To get a quote for a cheap business insurance package, get in touch with Make It Cheaper Financial Services. Our friendly insurance experts can help you to decide what cover is best for your business, and create a bespoke policy to fit your requirements, easily and with no hassle.
Call 0800 970 0077 today for your no obligation pub insurance quote.