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Restaurant Insurance
Compare Cheap Restaurant Insurance Quotes
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Compare Restaurant Insurance Quotes from top UK’s leading insurers including;
Why Compare Cheap Restaurant Insurance With SimplyQuote
SimplyQuote understands how stressful it is to be in the hospitality industry and that the last thing you feel like doing is spending hours searching for a new business insurance policy.
That’s why we’ve created the perfect solution: the 100% free, online comparison tool.
Get more hours in your day when you compare restaurant insurance quotes with us. Simply fill in your details online, hit “compare quotes” and voila!
Super simple and stress-free.
What Do You Need To Get A Restaurant Insurance Quote?
Please provide the following info:
- Personal details – name, surname, contact info
- Business details – company registration info, type of restaurant you run, annual turnover
- Employee details – how many staff you employ
- Policy details – what cover you need
- Insurance details – previous claims history
Why Do You Need Restaurant Insurance?
The restaurant industry is one of the most difficult to succeed in. Beyond ensuring that the food they serve is palatable, restaurant owners are faced with the challenge of ensuring the safety of both their staff and the general public.
Accidents happen all the time, but a lot can go wrong in a restaurant. When there is a major incident, regardless of whether it is your fault, you don’t want to be on the wrong end of a claim and then have to pay a huge settlement fee. Being covered by restaurant business insurance can offset unnecessary expenses to keep your business running well.
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What Does Restaurant Insurance Cover?
Restaurant insurance policies cover the following:
Buildings insurance
If your building gets damaged by an insured event such as fire, vandalism or natural disaster, then buildings cover can handle the cost of repairing or rebuilding your restaurant’s structure.
Employers’ liability insurance
Employers’ liability insurance is a key component of restaurant insurance cover and is a legal requirement in the UK (if you employ staff). With employers’ liability insurance, you will be given financial support should an employee claim against you.
Public liability insurance
Public liability insurance covers compensation and legal costs in the event of a member of the public being accidentally injured in your restaurant. An example of a common public liability insurance claim would be a customer slipping in a puddle of water and sustaining an injury.
Product liability insurance
Product liability insurance is closely similar to public liability insurance, with some minor differences. If a product you sell causes injury or illness, product liability insurance can protect you financially and legally.
A prime example would be a guest getting food poisoning after consuming one of your meals and filing a claim against you.
Business contents insurance
Restaurants should always endeavour to have contents insurance, as it can handle the cost of replacing most items in your restaurant. This covers a restaurant’s fixtures, furniture and cooking utensils.
Note: Also called business equipment insurance policies.
Legal expenses cover
This type of insurance facilitates access to legal resources and covers legal costs in case of a legal dispute.
Liquor liability insurance
This cover can provide financial protection if a customer has an alcohol-related incident after consuming drinks on your premises. Many restaurant liability insurance plans do not cover alcohol and liquor liability, which is generally only added following endorsement.
Stock insurance
With stock insurance, restaurant owners can easily replace goods and materials or recover the financial equivalent, should they get damaged, lost, or stolen. An important part of this cover is knowing how much stock your restaurant has or expects. Always be sure to do regular stocktakes.
Business interruption insurance
Unforeseen circumstances can bring your operations to a complete stop within the blink of an eye. If that does happen, business interruption insurance can help get your restaurant back to where it was financially before the interruption.
Personal accident insurance
This type of business insurance add-on applies to people actively carrying out their business functions. If any incident completely hinders your ability to work, then personal accident insurance can keep you financially covered and it often covers medical costs and certain recovery expenses.
What’s not covered?
- Normal wear and tear on the property and/or kitchen equipment
- Costs incurred due to negligence
- Costs incurred due to malicious/intentional acts by the restaurant owner
- Patrons’ personal belongings
- Delivery vehicles – you will need specialised food delivery insurance for this
What kind of restaurants does this insurance cover?
- Cafes
- Caterers
- Fast food
- Fine dining
- Casual dining
- Ghost restaurant
- Food truck, cart or stand
- Pubs
- Diner
- Pop-up
- Bistro
What Add-Ons Are Available For Restaurant Insurance?
Here is a list of a few optional extras you can add to your restaurant insurance cover:
Cyber insurance
Cyber attacks are attempts by cyber criminals to breach your company’s information technology systems and steal valuable data.
Commercial vehicle insurance
Some restaurants may have a vehicle for delivering meals and picking up supplies. Personal vehicle policies won’t cover such a vehicle, but commercial vehicle insurance can. If you or an employee is in an at-fault accident, then a commercial vehicle policy can cover the cost of repairs or replacements.
Terrorism insurance
Damages resulting from terrorist acts are generally excluded from standard BOPs (business owner policies) and restaurant business insurance policies, so having this coverage in place could be handy.
Money cover
Protect your cash takings with this policy add-on. However, there is usually a maximum limit to what insurance providers will pay out and the money will need to be kept in a locked safe at all times.
How Much Does Restaurant Insurance Cost?
You can expect to pay around £124 per month for a standard restaurant business insurance policy. However, insurance providers calculate your premiums based on several factors.
What impacts insurance prices?
- Location: Businesses that are located in high-risk areas (e.g. high-crime or flooding risks) are always more costly to insure.
- Claims history: Insurance companies aren’t fond of instability, so if your operations seem unstable based on your claims history, they might increase your premium.
- Property value: The cost of any commercial insurance policy will change according to the total value of your property. Insurance companies will always consider the cost of your building, equipment, furnishings, POS systems, art, signage and stock when calculating your premium.
- Type of restaurant: Most restaurant insurance quotes are higher than restaurant owners would like, but the premium depends on the exact nature of their restaurant. This is because a restaurant that uses machines such as deep-fat fryers may present greater risks than a coffee shop.
- Workforce size: The more people you employ, the riskier your operations are.
- Alcohol vs total gross sales: The amount of alcohol you sell in relation to your gross sales can significantly affect the cost of your policy. An insurer may refuse to provide cover if a large percentage of your total sales are alcohol-related.
How Can You Reduce Your Restaurant Insurance Premiums?
There are several ways you can lower your restaurant insurance premiums:
- Compare quotes with SimplyQuote to find the best deal
- Conduct regular maintenance at your restaurant premises.
- Regularly service kitchen equipment, gas connections and other appliances.
- Improve restaurant safety (e.g. implement safety protocols, invest in safety gear for staff, install smoke/fire alarms, etc.).
- Keep an eye on how many staff are on one shift to minimise accidental damage/injuries.
- Provide extra staff training (e.g. HACCP, basic fire fighting, risk management).
- Minimise risks as much as possible (e.g. clean wet floors, repair broken equipment).
- Increase restaurant security (e.g. CCTV cameras, security alarms, secure parking).
- Pay premiums annually as opposed to monthly.
- Only select the optional extras you need.
How To Compare Restaurant Insurance Quotes With SimplyQuote?
Compare restaurant insurance with SimplyQuote in four simple steps:
- Fill in the short form: Tell us about yourself, your business and your location.
- Choose policy add-ons: Choose which additional cover add-ons you want.
- Compare quotes: Find a quote to suit your budget and business insurance needs.
- Save money: Get the best deal to start saving today.
Frequently Asked Questions
Restaurant business insurance, like most forms of business insurance, is geared towards providing financial and legal cover for incidents in the restaurant business.
In this case, any establishment that publicly or privately serves food can be classified as a restaurant or qualify for restaurant insurance. Restaurant owners can purchase restaurant insurance from one provider or create a package by combining cover plans from multiple providers.
Not having sufficient employers’ liability insurance cover can result in fines of up to £2,500 per day! Employers’ liability cover is a legal requirement in the UK, even if you only employ part-time or casual workers.
A few restaurant hazards include:
- Food safety
- Injuries: Restaurants can be incredibly hazardous during peak times. Unmopped puddles of liquid are one of the main causes of broken dishes and injuries. Open flames, hot grease, and sharp knives are also the source of many workplace accidents within the restaurant business.
- Fire: Restaurant kitchen fires are an extremely common occurrence, especially in restaurants with deep-fat fryers.
- Theft: Thieves often see restaurants as a lucrative target, given the daily traffic volume and patrons paying for their meals in cash. Even if your establishment doesn’t keep cash on site, thieves may still break in and cause considerable damage to the property.
- Business interruption: A lengthy interruption in operations can easily cause a restaurant to go out of business.