A public house is not just like any other business it has its own special problems to cope with like loss of license, damage by customers and injuries to staff. Hopefully these types of things don’t happen often but if they do your insurance needs to created with a pub landlord in mind.
Pub insurance is a special form of business insurance that is specifically created for the risks that pubs face. Pub insurance is a critical part of your business when you have to deal with the public and serve alcoholic beverages. Standard building and contents insurance and standard business insurance are not enough, they will not cover injury caused to customers and employees for example.
It’s because pubs are such busy places that getting the right pub insurance package is crucial to ensure that, when things go wrong, your business is protected and can continue.
Some of the things covered by pub insurance can include:
Employers and public liability
Business contents including equipment and stock
Loss of licence
Damage to fixed glass and sanitary fittings
Loss of money from theft
personal accident and assault
When buying pub insurance, there is more to consider than just you and your staff. A Good pub insurance policy will take account of the different services you provide, for instance: Hot cooked “Pub Grub”, function room hire, letting of bedrooms, your children’s play area, etc. All these change your risk and my affect your policy.
Losing your licence would be a big issue. A pub which is can not serve alcoholic drinks will lose its value, and pub insurance can compensate for some of this loss. This is an important part of any pub insurance policy as it could be disastrous for the pub owner’s business to not have this cover.
Accidental damage is also very important. For pub insurance, you want to ensure that you are covered for: your premises, your stock, your financial liability and your most crucial piece of paper, your license.
Some optional extra coverage that a pub owner might want to consider is computer breakdown, terrorism insurance, employee theft, flood and other types of insurance.
As all pubs are different it is important to get a personalised quote and probably talk to a broker or insurance company to understand what you are getting for your money. Many consider insurance as a something they have to have and buy the cheapest policy they can find without understanding the specifics of that policy. You don’t want to over pay but your policy is there to help if thinks go wrong, if you get the wrong policy the premium would have been wasted and you could have serious problems.
Pub insurance is vital to ensure the good operation of a successful business. Just as anyone who drives a vehicle should never be without auto insurance, an individual with a unique business should buy insurance that’s tailored for that specific business.
Even small disruptions can cause reductions in takings, so choosing the right public house insurance cover is an essential part of running your business.
By Andrew Fisher