After a major incident at your pub, your pub insurance could be the only thing keeping you from going bankrupt and needing to cease trading. A fire could leave your building barely standing, or your stock and equipment burnt out. A burglary could mean losing most of or all of your stock, with you having to find the funds to purchase new items to keep the business running.
Even an unexpected flood could leave your public house with severe structural and cosmetic damage, with no clue as to when you can reopen and continue to earn your livelihood. Pub insurance covers businesses against incident such as these, leaving the landlord only needing to make a call to their insurance company, rather than worry how and when things are going to be sorted out.
In the case of a burglary, an important type of pub insurance to have would be contents insurance. This covers publicans against the theft of any stock or equipment, with insurance companies reimbursing the pub to the full cost, or the majority of the cost of lost contents. This is especially important for new businesses, which may not have the funds available to replenish the stock immediately to ensure the pub can continue to open.
A vital part of any pub insurance portfolio should be public liability insurance. Accidents can and will happen, and they are sometimes seen as a result of negligence on the part of a business. If a member of the public or their property is damaged by either you or your business, public liability insurance will cover the costs of any claims made.
It is also important to ensure that your insurance policy includes legal cover, in case any claims made against you can be disputed and the matter ends up in legal proceedings. This is also true for employers liability insurance, which covers your pub in case an employee renders themselves unable to work due to an accident, an decides to make a claim against you.
A number of public houses in the UK can be found in very old buildings which have been pubs for decades, sometimes even centuries. There are even pubs which are located in listed buildings. The last thing a publican will want to risk is doing any substantial damage to buildings of this calibre, and not be able to pay for any repairs.
Pub insurance policies will usually come with buildings insurance, which cover your business against that very same occurrence. This can be tailor made to meet your pub’s requirements, which can be especially useful if your building has any number of unique features. There are also additional features you may wish to add on to your pub insurance policy to protect against any eventuality, including cover against loss of your liquor licence.
Running a pub can be stressful business, but with the right insurance cover this worry can be minimised. Having the very best cover will allow you to concentrate on the day to day running of your business, providing the very best experience for your staff and customers.
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