What coffee shop insurance do you need?
Employer's Liability Insurance
This is the only type of insurance for businesses that is mandatory. If you employ anyone, even if it's only on a part-time basis, you must have employer's liability insurance.
Buildings and content insurance
Remember that standard B&C insurance won't cover a business, so you will need to look for specialist cover that also takes into consideration the unique requirements of a catering business.
Public liability insurance
Although not a legal requirement, at Park Insurance we strongly recommend that you take out the best PLI you can afford. This gives you financial peace of mind should a customer be injured or fall ill as a direct result of a visit to your shop, even if it's a scald or burn from a hot cup of takeaway coffee.
Other types of cover to consider include:
Stock cover
Specifically designed to protect you financially against losses as a result of damage to perishable stock, for example, if a refrigeration unit fails.
Key Personnel Insurance
If you suddenly and unexpectedly lose a key member of staff, this cover will provide financial protection until you can replace them.
Business interruption coffee shop insurance
Keeps the finances stable if your business has to stop trading due to circumstances beyond your control such as flooding, fire or a natural disaster.
Legal protection
An essential that is often overlooked, legal protection gives you financial cover should you need the services of the legal profession, for example, during an injury compensation claim.
The last few years have really shown business owners how unpredictable life can be, highlighting the need to fully protect their financial interests. Whether you're a small independent coffee shop or a large chain, unexpected events can impact your business and compromise your livelihood. An excellent insurance policy can offer the peace of mind you need to push forward with your business after an unpredictable few years.