Pub Money Saving: Insurance Savings
Whether you’re running a pub, restaurant, cafe, takeaway or mobile catering van, you can cut the cost of insurance and reduce claims if you:
- Comply with The Health and Safety At Work Act and carry out regular workplace risk assessments.
- Join a trade association for discounted insurance premiums.
- Keep business money in a secured locked safe.
- Don’t leave premises vacant for long periods.
- Don’t store stock in damp basements.
- Reduce stock levels for lower premiums.
- Keep premises/mechanical equipment well maintained.
- Use premises that are self contained with their own lockable door.
- Make your business premises secure with BS standard locks, intruder alarms, CCTV.
For Cheaper Insurance Costs
- Look for a policy where you can pay premiums monthly, interest free.
- Don’t use premises with listed building status.
- Put a risk management programme in place.
- Install CCTV.
- Let your insurer know if you take on fewer staff/reduce stock levels.
- Don’t offer disco/live entertainments/nightclub facilities.
- Don’t provide DSS accommodation.
- Restrict late night opening to Christmas and New Year.
- Don’t organise excursions.
- Don’t offer play facilities (eg Bouncy Castle).
- Keep premises occupied overnight by an employee/family member.
- Don’t have an ATM cash machine on the premises.
- Don’t charge admission.
- Don’t extend hours of opening more than three times a week.
Risk and Cost increase if:
- You’re in a high crime location and/or area subject to flooding.
- Your business is over 10 miles from the nearest fire brigade.
- You offer entertainment (dancing, live music).
- You have late opening hours.
- You offer outdoor activities and excursions.
- You have a high turnover of employees.
- You hire a high number of seasonal staff.
- You offer self-catering facilities in your inn or restaurant.
- You’re closed for long periods and no-one lives in the property.
Join a trade association for discounts on pub and restaurant insurance.
The British Hospitality Association (BHA) www.bha.org.uk;
The Restaurant Association www.restaurateursguide.com;
British Beer and Pub Association (BBPA) www.beerandpub.com;
The BII (British Institute of Innkeepers) www.bii.org;
Best Bar None www.bbnuk.com;
Nationwide Caterers Association www.ncass.org.uk