Takeaway Insurance
There is a growing need for takeaway insurance due to the increased demand for fast food and new business are opening up all the time to meet this need. Each of these new takeout only restaurants is in need of proper insurance coverage to protect themselves from the risks of operating a business.
Who needs Takeaway Insurance?
- Any establishment that provides food and beverages to the public for a fee, but does not have a place on the premises for them to consume it.
- The establishment can be takeaway only
- The establishment can be delivery only.
- The establishment can provide both takeaway and delivery services.
What Types of Insurance are required under UK Law?
Employer Liability Coverage: This is both medical and legal financial coverage to handle the bills if an employee is injured on the job or becomes ill.
Public Liability Coverage : This is the same as employer liability coverage except it covers the public while they are on your premises if they are injured or become ill. £1 million to £5 million coverage is the typical limits.
Third Party Motor Vehicle Coverage : This is the minimum insurance coverage for a business that makes deliveries of the fast food.This pays for the repairs of the other person’s vehicle and their medical bills when your delivery vehicle is at fault in an accident.
Other Insurance Coverage that might or might not be required
- Under the terms of some leases there is a requirement for the takeaway business owner to have a policy to financially protect the building in case it is damaged by fire, water, theft or vandalism.
- The clause of business content can be added to this type of policy to cover the equipment used by the business such as ovens, cash registers, refrigerators and other.
- Fixtures and fittings coverage can also be added to cover these permanent items in and on the building such as lights, cameras, and fire retardant systems.
- Content coverage to protect the food supply just in case of a power outage and the refrigerators fail.
Comprehensive Motor Vehicle Coverage
- This will cover the medical, repair and legal bills of both vehicles if your delivery vehicle is at fault in an accident.
- This is a specialty insurance policy to cover the contents in your delivery vehicle. This will include the food items and the container to keep it warm or cold.
- This is a specialty insurance policy to cover the contents in your delivery vehicle. This will include the food items and the container to keep it warm or cold.
Business Interruption Coverage
- This is another specialty type of coverage to financially protect the business if it is unable to open and conduct business due to a fire, water damage, theft, vandalism, vehicles disabled or even road construction.
- Payments can be used to pay the mortgage, wages, utility bills, rent, insurance premiums and bank loans
To make sure you have the right Takeaway insurance to protect your business an independent insurance broker should be contacted. They will locate the right type of policies you need in a budget you can afford.
