From traditional fish and chip shops, to pizzas, from burgers to dishes from practically every corner of the world, Britons are spoilt for choice when it comes to takeaway meals.
For all their popularity, though, if you are the owner of a takeaway restaurant or stall, you probably know only too well how stiff is the competition – and the number of award-winning establishments is growing all the time, said the BBC on the 13th of April 2017.
When margins are tight, you need to make sure that every penny counts – and that includes your expenditure on the insurance that is necessary to protect your takeaway business.
So, what might you look for when arranging your takeaway insurance?
Consult the experts
- just as takeaways come in all shapes and sizes, at different locations with many different menus, so the insurance needed by any establishment needs to be tailored to suit;
- here at Specialist4Business, we match your precise needs and circumstances to the appropriate policies available, to ensure that you secure value for money with any cover you arrange;
Public liability insurance
- probably one of the greatest risks faced by your takeaway business – because of its potential expense – is the allegation of your liability for any member of the public, including your customers, who may be injured or have their property damaged (by one of your signs collapsing onto them, for example);
- public liability insurance provides an important indemnity against such claims – typically for a minimum of £1 million;
Product liability insurance
- you also owe your customers a clear duty of care to ensure that none of the food you serve them makes them ill;
- if some product is shown to have caused such an illness, you may again be held liable and ordered to pay substantial compensation – for which product liability insurance is designed to provide indemnity;
Employers’ liability insurance
- if you employ others to help run your takeaway, the law says that you must have a minimum £5 million employers’ liability insurance cover;
- this is to make sure that you are able to meet any claims from current or past employees who may have been injured or contracted a longer-term medical condition because of the work they did for you;
- you may be fined up to £2,500 for every day that you do not have the relevant form of employers’ liability insurance;
Premises and contents
- one of the things about a takeaway is that your food may be served from anything such as a restaurant or bar to a roadside stall;
- yet takeaway insurance may be used to provide cover from whatever “premises” you own and protect them against fire, flood, storm damage, impacts, theft and vandalism;
- as important as the structure itself, are the utensils and equipment used to prepare and cook the food you serve – this, too, may be safeguarded through the appropriate form of takeaway insurance.
Takeaway insurance typically provides very versatile and adaptable cover for all manner of takeaway businesses, protecting the investment you are likely to have made in setting up your enterprise against loss and damage to the business assets and indemnity from a number of potential liabilities.