Pub Insurance: 5 easy steps to getting the right cover
From gastro-pub to late-night entertainments venue, running a pub is a dream job for many. But being your own boss can throw up many challenges you might not enjoy – you’ll have to become head of HR and Finance as well as deal with the day-to-day running of your pub. With so much to think about it can be difficult to stay on top of it all, especially if the main reason you decided to take this career was because of a love of good beer not because you wanted to get bogged down with paperwork and pub insurance.
When you’re dealing every day with things such as deliveries and staffing it can be easy to put off sorting out some of the essentials, like insurance. But if you don’t protect yourself adequately you could inadvertently find yourself facing hefty fines or legal bills, and if you just opt for a straightforward renewal you could be paying out more than you need to.
So what can you do to make sure you get the right insurance for your pub? Read our guide to the five easy steps to take to give you peace of mind you’ve got the cover you need for the best price possible.
Step 1)
Public liability insurance
Wherever you’ve got drinks you’ve got the potential for them to spill! Slips and trips are a common hazard in even the most sedate of pubs, and when drinks mix with dance floors you’ve got a very dangerous combination. Public liability insurance is an essential for all licensed premises to protect you from claims of injury or loss, and if you have a dance floor you’ll need specific cover.
If you have a children’s playground you’ll need to make sure you mention that to your insurer in case it needs to be noted separately. Public liability insurance can also protect you from claims as a result of anything you sell or supply. That means you’re covered for claims such as food poisoning.
People are increasingly confident about taking legal action after injury, and with the rise of solicitors taking on cases on a no win no fee basis, suing you has become easier than ever.
Step 2)
Employer’s liability insurance
Employer’s liability insurance is an essential – you can be fined up to £2,500 a day if you don’t have it, even if your staff are employed part-time or sub-contracted. As well as being a legal requirement it can help protect your business from claims arising from injury at work due to negligence as well as helping you if your employee(s) sues you for something like unfair dismissal.
Step 3)
Events insurance
Events in your pub could be anything from a gig to a beer festival. They may already be covered by your public liability insurance, but you will need to speak to your insurer and have it noted on your policy because events could affect things like later opening, different equipment and more customers, which might have an impact on your premium. It might not cost you any more, but if it hasn’t been mentioned you might not be covered and it could void your policy, so don’t leave yourself unprotected.
Step 4)
Contents and building insurance
You’ll need to carefully consider your contents to make sure you’re not under-insured. As well as things like fire and flood that you expect to be covered by domestic insurance, specialist pub insurance will also cover you for things specific to the pub trade, such as damage caused by drinks leaking and violent theft and damage.
If you own your own building you’ll also need to insure your building. With so many pubs located next to rivers or with pretty, but hard to insure, thatched roofs, it can be tricky to find cover, but an experienced broker will know exactly where to look.
Step 5)
Business interruption
Can your business survive if something unfortunate happens and you can’t open for some time? Business interruption insurance will compensate you for lost trading time. Selecting a specialist broker, such as Park Insurance, where you will have a single point of contact for speed and ease of processing claims, can also help reduce time wasted and get your business back up and running again as quickly as possible.
Shop around for the best deal or use a specialist broker to help
We understand the specific needs of the pub trade as well as understand that every business has its own different, specific needs. By tailor-making your insurance, we can give you peace of mind that everything that you need is covered, whilst making sure you save money by not paying for cover that you don’t need.
Our dedicated team know which questions to ask and can offer a convenient one-stop shop for all your pub insurance needs. And because of our excellent relationship with specialist pub insurance providers, we can find you your cover at the right price too.
Get a quote now for comprehensive cover for your pub at the best price so you can concentrate on running your business.