Insuring a new cafe
Opening a new cafe is an exciting and often stressful time.
There are plenty of things to think about, from the location and name of the cafe to the brand of coffee beans you’ll be using.
Whilst it’s not the most exciting thing to think about, business insurance is something that needs to be relatively high on your agenda when planning your cafe.
After all, there’s no point putting your heart, soul and money into something if you could potentially lose the lot because it’s not insured.
From our experience there tends to be two different options that people take when insuring their new cafe.
There are those who want the absolute minimum and cheapest possible cover to get their cafe opened, and those who want to fully protect their cafe properly from day one.
For a new cafe, there is generally more interest in spending money on the fit-out and perhaps some local marketing rather than insurance.
Money is almost always an issue when opening a new business of any kind.
For this reason, some new cafe owners choose to spend the least amount of money possible on their insurance.
In most cases this means public liability and glass insurance. Why these two? Because they are both generally required under most lease contracts.
As long as you have a policy which includes these two covers you will be able to open your cafe whilst keeping your landlord and their real estate agent happy.
In terms of what they cover, public liability will cover you if a member of the public suffers a personal injury or property damage whilst on your premises.
For a cafe, typically the major risk for personal injury is slip and fall. This type of event is covered under a public liability policy provided that your business is found to be responsible.
Glass insurance covers the breakage of any fixed glass within your cafe, which you will be responsible for under your lease agreement.
In our opinion taking out the minimum cover is a risky option, but if this is all you choose to take out we will still do our best to look after you and find you the best value cover.
Full cover will mean different things in different situations, but ultimately it means insuring your cafe against all potential risks you might face.
Broadly speaking, a comprehensive insurance package should cover the minimum requirements (public liability and glass) plus the additional risks such as fire, theft or damage to your property.
Get the right cover
When opening a new cafe we recommend getting at quote from 365 Insurance as we understands cafe businesses.
Here at 365 Insurance we have access to a network of insurers who understand the industry and can assist you by providing multiple insurance quotes so you can get covered quicker.
Because they have arranged insurance for cafe owners in the past they can tell you from experience which types of insurance may be best suited to your individual needs.
For more information please call us or get your quote online now and start saving.