What is Hospitality and Retail Insurance?

What is Hospitality and Retail Insurance?

Whether a corner fish and chip shop, a boutique cafe or a 100+ seat restaurant or everything in between, hospitality (and retail) businesses are always a hive of fast paced activity. With subtle music on discrete speakers, food being whizzed around on trays, loud groups of happy customers and hopefully loads of foot traffic every day, you need the right insurance to suit your business.


There are a variety of insurance covers that hospitality and retail businesses need to consider as part of their Business Insurance solution.

Business Interruption cover

What would you do if you had a kitchen fire and had to close for a year to rebuild? Could you continue paying your key staff while you were getting back on your feet? Could you pay your outgoings or yourself? What about suppliers? Your competition making the most of your misfortune?

The greatest insurable risk most hospitality and retail businesses face, is loss of income due to an interruption or damage at the premises. Most small businesses would struggle to survive an extended period of time closed or at reduced capacity, without some financial assistance. Business Interruption cover provides peace of mind that your lost revenue or profit, wages and other expenses can be covered and paid as part of your claim for property damage.

Machinery or Equipment Breakdown

More prevalent in hospitality, but worthy of consideration in your retail business too, a machinery breakdown cover is vital to keep you operating if your fridges or cool rooms, air conditioning or heating systems, processing or kitchen equipment or even POS system breaks down or suffers a power failure.

Deterioration of stock is also covered under this section, meaning you can replace any spoiled stock resulting from the breakdown.

Can you afford to repair or replace the equipment you rely on to operate each day, in the event of unexpected breakdown? Is a replacement easily and quickly available?

Public Liability

The success of your hospitality or retail business depends on your customers, and more people on your business premises, in addition to your staff, means the likelihood of an injury is high. Your Public Liability insurance is crucial to get right for your occupation and particular operational circumstances.

Additional covers to consider

If you still take and hold a bit of cash, you should consider a money cover, to protect the cash you hold on premises, in a safe, and in transit to the bank.

Chances are if you’re under a commercial lease, you’ll need to insure the glass in the building you rent also. This cover can also protect your own glass internally in the business – from fixed or plate glass, to mirrors and display cabinets and most glass items in between.

Your contents and stock can also be covered under a property section, for fire and accidental damage, and theft of contents and stock can be taken separately also.

Getting to know you and your business properly, means the right insurance covers can be tailored and packaged for your specific needs. Giving you peace of mind that your busy business is fully protected. Give me a call today to chat about yours!

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