Insurance for takeaways
The day-to-day running of a busy takeaway can present a lot of risks to your business, your staff, and your customers. It’s important to protect against these risks, as leaving your business exposed could result in costs if unexpected injury, damage or loss occurs.
There are a number of different types of insurance that a takeaway owner may wish to purchase, but the ones that you select will depend on your business’s specific needs and circumstances, which is why it's important to compare takeaway insurance policies. Whether you specialise in pizza, Chinese or Indian cuisine, the following types of cover are ones that you may find beneficial in protecting your takeaway business:
- Buildings insurance:
This policy involves protecting the physical structure of your business building against threats such as damage and theft. Business buildings insurance can also include permanent fixtures and fittings under its cover, which, for a takeaway, means that your front counter or kitchen work surfaces could be protected, too. A successful claim on a buildings insurance policy can compensate you for damage to your building and its insured components.
- Contents insurance:
Contents insurance provides protection for the contents of your takeaway business – in case they are damaged, lost or stolen. You could be funded for repairs or replacement items should an unexpected event – such as theft – occur.
Contents insurance can be particularly beneficial to takeaway businesses, as its cover can be extended to include equipment and tools, meaning you could safeguard against losing the use of your specialist items, such as kitchen cookers, fryers and fridges, as well as tills or computer equipment that you may use to take orders.
- Product insurance:
This policy provides financial protection in the event that a member of the public suffers illness or personal injury due to a product you provide. For a takeaway business, where your main product is likely to be food, product liability insurance can protect you if you are deemed responsible for causing a customer to suffer illness, such as food poisoning. For a more comprehensive product liability insurance definition, click the link.
- Fleet insurance:
If you offer a takeaway delivery service as part of your business, then fleet insurance could provide you with valuable protection for multiple cars and delivery drivers. A fleet is defined as two or more cars, so this policy can be relevant to takeaways of virtually any size.
- Public liability insurance:
It’s highly likely that your business will be interacting with members of the public on a daily basis, and as such, public liability insurance will probably form a core part of your takeaway shop insurance package. If a member of the public suffers injury or property damage as a result of your business’s activity, you could receive funding for legal fees and compensation with this policy.
- Employers' liability insurance:
Employers’ liability insurance can cover you in the event that a member of your staff suffers illness or injury as a result of working for you, and consequently claims against your business. This policy is usually mandatory for businesses in the UK, but it’s worth noting that if you only employ close family members, then you may not be legally required to have employers’ liability insurance in place.
- Business interruption insurance:
This policy can provide essential financial assistance in the event that your business has to close unexpectedly. For example, if your takeaway restaurant suffered from severe flood damage and had to close for repairs, a successful business interruption claim could help with paying your ongoing overheads, as well as compensate for revenue lost during closure.
Ultimately, it is your responsibility to decide which business insurance policies protect against the threats most relevant to you, and include these in your takeaway business insurance package. Not all of the above policies may apply to you, so it’s important that you only take out the cover that suits your takeaway’s individual needs - especially if you;re looking to create a cheap business insurance package.