Pub Money Saving: Insurance Savings

save money pub bar hotelWhether 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.

Trade Associations
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