According to a study published by the University of Cambridge in April 2015, the number of takeaway restaurants in the UK has increased by 45 percent in the last 18 years.
If you run a food business, you need to protect your business against specific risks so you can compete effectively in this increasingly competetive sector.
At IC Insurance, we understand the specific challenges and potential risks you face as a food business owner. That is why our brokers collaborate with leading insurers in the industry to design bespoke restaurant insurance packages suited to the unique circumstances, needs, and requirements of your business.
What Could Happen?
No two businesses are the same. The sort of risks food businesses face are different from the potential threats associated with other commercial spaces such as offices.
Restaurants and takeaways are public venues with customers and employees constantly coming and going. That is why they require specialised restaurant insurance that address their key risks.
Some of the insurance risks food businesses face are similar to retail businesses but others are unique to dine-in or catering businesses. Common insurance risks include natural catastrophes such as flooding or storms, theft of stock and vandalism.
While your standard building and contents insurance package can provide some measure of protection against these risks, you still need tailor-made coverage against risks unique to your business. These can include insurance cover relating to:
In the event a customer suffers an allergic reaction and gets sick after they consume a meal prepared by your restaurant.
In case an employee or member of the public suffers an injury whilst on your premises.
In case perishable items in your inventory are spoiled as a result of a broken freezer or a major power failure.
Deterioration of stock cover offered by IC Insurance helps by financially compensating you for the wasted goods.
What is Restaurant and Takeaway Insurance?
A restaurant business insurance policy, also known as takeaway business insurance or food business insurance, consists of a combination of covers designed specially to safeguard food businesses and their owners from potential risks such as customer complaints, liability lawsuits, accidents, repairs and damage as well as malfunctions and broken equipment.
Having a comprehensive restaurant business insurance policy in place can help your business enormously and financially support it through challenging times.
What Does Restaurant Insurance Cover?
Restaurant insurance packages by IC Insurance Solutions provide coverage in the following areas:
Public liability cover is essential for your business if members of the public visit your premises
Public liability insurance covers the cost of any legal responsibilities, including legal fees and compensation, that may arise in case members of the public sustain an injury or damage to property in your food outlet.
If your business involves the delivery of food and/or beverages to the public. A products liability cover financially safeguards your business against any injury or property damage caused by your goods.
Comprehensive Contents Cover
A contents cover, also known as a stock cover, protects your equipment, inventory, and supplies from theft, malicious damage, destruction by fire, floods and other insured risks.
A ‘glass cover’ reimburses you for any damage to the glazing in your shop so you can conveniently replace them. Covered installations include shop front, windows, and glass in display cabinets.
Employer’s liability cover is compulsory for most UK businesses with at least one employee.
Employers’ liability insurance protects you against any legal action due to the accidental death or injury of an employee that may be the result of operations associated with your business.
Also known as business income insurance, business interruption cover provides financial assistance to recompense your loss of income for a set duration of time.
A money cover provides financial protection against theft of money from your outlet or whilst in transit to or from your bank.
Types of Food Establishments Covered by IC Insurance
Whether you run a dine-in restaurant, a chic café, a late-night takeaway or a fast food establishment, our business insurance solutions have your food establishment covered.
IC Insurance covers a diverse range of restaurants and food outlets including:
- Insurance for Takeaway shop
- Snack and Sandwich Bars
- Licenced Restaurants
- Eateries and Bistros that serve all types of cuisine
- Internet Cafes
- Fish and Chip Shops
About IC Insurance Solutions:
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.