Running a pub or wine bar is rewarding yet challenging. There are countless risks that your business faces on a day to day basis including accidents, theft and property damage.
Since most of these risks are unique to pubs, wine bars and taverns, bar owners require specialized pub insurance packages that secure their investment and protect their businesses against any eventualities.
At IC Insurance Solutions, our wine bar insurance brokers have an in-depth understanding of the specific challenges faced by the brewery industry in the United Kingdom. Our experience in the insurance sector has also enabled us to form lasting relationships with leading bar insurance companies in the UK.
That is how we are able to bring you bespoke pub wholesalers and bar insurance packages that safeguard your business by comprehensively covering it.
What Could Happen?
Here are some of the common risks and claims associated with running a bar, tavern or public house:
Injuries and Accidents
You can be held liable if any of your employees or customers suffer an injury on your premise.
Because you are serving alcohol, you will frequently be in contact with inebriated customers. The chances of injuries and accidents increase because there is a higher risk of people tripping or falling.
The same goes for your employees. In addition to potential injuries and accident, they also face several occupational hazards on a day to day basis.
This insurance covers for frozen items spoiling as the result of a broken freezer or a major power breakdown.
Loss of Alcohol Licence
The pub industry in the UK is highly regulated. You could lose your alcohol licence or get fined, even if you are not at fault and circumstances are beyond your control.
Electrical fires are common in nightclubs and bars due to different types of lighting and wiring. If your pub serves food as well, you could face the additional risk of cooking fires.
Floods and Storms
Erratic weather patterns and climate change have made the threat of floods and storms very real for UK businesses.
According to a survey conducted by the Federation of Small Businesses, in the aftermath of 2015 winter floods, almost two-thirds of small to medium enterprises reported being hit by severe weather conditions in the past 3 years.
Floods and storms can be disruptive, if not devastating for businesses. According to another report published by the Environmental Agency, the total economic damage from 2015-16 winter floods was estimated to be between £1.3 billion and £1.9 billion.
Theft and Vandalism
In case your establishment suffers a break-in or is vandalised by an employee or another party. Theft can cause a huge financial loss and vandalism usually result in damage to property.
What is Pub and Bar Insurance?
Pub and bar insurance, also known as wine bar insurance or public house insurance, is a specialized form of business insurance designed to insure against the specific risks licensed bar owners or publicans face. Pub and bar insurance packages typically cover business contents, inventory, employees and customers.
At IC Insurance, we go a step farther by creating flexible wine bar insurance packages that are tailored to your establishment’s needs and requirements.
So, whether you own a classy wine bar, a cocktail bar, a traditional pub or a local tavern, you will find adequate and comprehensive cover with us.
What Does Bar Insurance Cover?
Our key covers include:
Full Contents Cover
Insurance for the contents of your establishment including furniture, electronic equipment, kitchen appliances, and cash registers and more on an old for a new basis
An all-round cover for your inventory including valuable spirits, beers, wine and food stock.
Your customers can sue you if the drinks or food you serve to them leads to sickness or injury.
Products liability insurance covers your legal defence costs including legal fees and compensation you may be required to pay to the injured party.
In the UK, employers liability insurance is obligatory for commercial enterprises that employ one or more individuals.
This insurance covers you against the claims brought against you by employees who suffer an injury or loss on your premise.
You are liable if a customer or member of the public suffers from an injury or an accident whilst on your premises.
Public liability insurance covers you by reimbursing you for your legal defence costs as well as the compensation you might be required to pay to the claimant.
Fidelity covers you against loss resulting from an act of forgery, fraud, theft or dishonesty from an employee. This loss can either be, money or assets including your goods.
Business interruption, also known as business income insurance, covers the financial loss caused by a pre-insured event that disrupts your business and keeps your pub or bar from opening.
Business interruption cover is essential for breweries and alcohol serving establishments because it keeps them stable enough to deal with outstanding expenditure such as wages, bills, bank loans and mortgages, during an unforseen closure.
Loss of Licence Cover
An alcohol licence is required to serve alcohol on your premise. Losing the licence can disrupt your business activities.
Loss of licence financially covers you against the consequences of having your licence revoked or suspended.
At IC Insurance, we believe that no two establishments are the same. The sort of risks you face depend on the scale of your business, your core operations, your circumstances and the nature of your business
That is why we offer the following optional covers:
A building insurance policy specifically covers any damage to the building. A building insurance cover is important if you own the premise your pub is built on.
A cover that recompenses you in case any glass installations and sanitary ware in your public house are damaged. Covered installations include shop front, signboards and glass windows.
Legal insurance covers the legal costs of defending your business against lawsuits and legal actions that are not covered by public, employee or products liability insurance; for instance, proceedings in an employment tribunal.
Provides financial cover in case money is stolen from your establishment or whilst in transit to or from your bank.
About IC Insurance
IC Insurance Solutions is a vibrant and enthusiastic insurance intermediary with a passionate team comprising of experienced insurance experts and seasoned brokers. We know the market inside out and our strong partnership with insurance providers enables us to provide comprehensive coverage to you at a competitive price.