With hot food, fragile plates and lots of activity, accidents are likely to happen, so we’ve put together this Hospitality Insurance Checklist, so you can make sure you’re covered.
At Insurance Web, we know every business is different, so we recommend this checklist is followed as a guide only. For advice specific to your business, speak to someone from the Insurance Web team.
Before we can tailor make a structured plan suitable to your business needs, we’ll undertake a Needs Analysis to determine the types and amount of coverage you will need.
To see how we can help with your hospitality insurance, please keep reading below or get in touch with the team at Insurance Web today to discuss your options. Contact us online here or call us on 1300 956 233.
Hospitality Insurance Coverage First Step
The number 1 thing you need to remember to do before you talk to an insurance broker is obtain a copy of your lease. Look at your lease agreement and see what is required of you from them as a starting point and build from there.
Almost all Lease Agreements will have obligations they force upon the client which can include requirements around:
- Public Liability Limit of Indemnity
- Machinery Breakdown – Air Conditioning and Exhaust Fans
- Glass Cover – External and Internal
Hospitality Insurance Checklist
When it comes to running a hospitality business, here is the complete checklist we highly recommend you consider for the benefit of your business:
- Public Liability – Bodily injury / property damage arising out of the insureds business activities, including tables and chairs.
- Products Liability – Bodily injury / property damage arising from products manufactured, modified, repackaged, imported, grown or sold.
- Fire & Perils – Damage to assets (building, contents, stock, equipment etc) caused by fire, storm, water and nominated perils excluding flood unless specifically included(Extension for your Customers’ Goods).
- Business Interruption – Loss of trading income and increased expenses due to damage to fixed assets or prevention of access excluding flood unless specifically included.
- Burglary – Theft of property and/or customers’ goods following a break and enter (Extension for your Customers’ Goods).
- Glass – Damage to fixed external or internal glass or both.
- Machinery Breakdown – Repair costs incurred following breakdown of plant and equipment.
- Electronic Equipment – Electrical breakdown of computers and associated equipment.
- Management Liability –
- Directors & Officers – indemnity following a “wrongful act” committed by the directors or officers or a company.
- Employment Practices Liability – defamation, sexual harassment, wrongful dismissal, discrimination allegations by staff or contracted staff in the workplace.
- Statutory Liability – fines imposed for unintentional breaches of government acts.
- Taxation Audit cover – expenses due to unexpected tax audit.
Book an appointment to see Insurance Web today!
Insurance Web are your Hospitality insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!