Finding the correct bars insurance policy is not always straight forward. Recently many insurers have been increasing the amount of exclusions on bars insurance policies, to avoid larger claims.
As your broker, our job not only is to ensure that you are covered correctly, but also to ensure that as a client, you understand what insurances you require, and what insurances you are most likely to claim on.
We have compiled data regarding what insurances you are likely to claim on, and what the most common causes of these claims are.
Get yourself a quote for your tavern or bar insurance quote today, just enter your details below, or call us now on 1300 859 381.
What you need to know about Bar Insurance
If you own a bar or tavern, you’ll already have a good idea of where your risk exposures are. With the high chances of slips and falls of intoxicated persons, you’ll want to make sure you have the right public liability insurance policy in place.
The most claimed on insurances are fires from kitchen appliances as ignition sources, business interruption due to fires, additional required time to rebuild the customer base due to a fire, theft of large sums of money on site, theft of liquor by employees, and mainly slips, falls and food poisoning. Luckily, there are insurance policies which can protect your pub, bar or tavern from these exposures.
Some of the main claims in the hospitality industry come from liability caused by breaking chairs or slips and falls. Other aspects can be foreign objects in food, and food poisoning. With public and products liability, you will be covered in the event someone tries to sue you.
To ensure your restaurants longevity, you’ll want to look at the most claimed on insurances. This shows that the main exposures are: Property Damage (fire, flood etc), Business Interruption, Public & Products Liability and Workers Compensation.
Of course there are multiple additional insurances which may be beneficial to your business, and if you would like further information on these, please contact one of our brokers on 1300 859 381.