If you are the landlord or manager of a drinking establishment then it is very important to make sure that you have the right insurance in place. There are several different types of insurance that will be relevant to pub owners and you might say that these are more important for a pub than for other businesses simply due to the nature of the business – and what goes on there.
Think about it – people will obviously come to the pub to enjoy a drink. While 99% of the time, there are unlikely to be any problems – you never know when the drinks might get to someone… of course, no matter what kind of business you run, there can be unforeseen circumstances. That is why getting the right pub insurance is doubly important.
Compare Pub Insurance With Money Pug
Money Pug allows you to compare prices on a range of different cover types that could be perfect for pub landlords or pub managers. By using this website, you are making a sound business decision – and shopping around to make sure you do not pay more than you need to pay for the different sorts of pub insurance that you need.
What Types of Pub Insurance Might I Require?
As someone looking to insure a pub you might need:
- Employer’s Liability Insurance
Pub owners will usually require some level of employer’s liability insurance. Employer’s liability insurance is a legal requirement for any business that employs one or more people. This type of insurance protects you against the cost of compensation claims if one of your employees gets hurt or becomes ill through working for you. If you do not have this type of insurance in place you could end up paying a fine.
- Public Liability Insurance
This type of insurance is there to cover the cost of legal action or compensation claims against your company, if a member of the public is hurt or their belongings are damaged while they are on your premises. Of course, there is always the risk of this in a pub – especially as this is somewhere alcoholic drinks are imbibed, so it could be a good idea to have this sort of cover in place.
- Loss of License Insurance
This type of pub insurance cover is often misunderstood. Basically, this type of insurance covers you in the case of forfeiture of your licence for the sale of alcohol due to licensing regulations or the local authority refusing to renew for reasons outwith the pub’s control. It is important to note that this cover excludes the suspension of a licence due to, for example, serving underage drinkers. This would be considered to be under the pub’s control
- Stock Insurance
Of course you will need to cover the contents of your pub. When calculating the level of cover it is important to take into account the full measure of stock that you have on the premises. Stock in a pub can be worth a considerable sum and so can be a target for theft. Make sure you have good alarms and security to keep premiums down and make you more attractive as a proposition to insurers.
You may also need to insure cash, as there may be a large amount of cash on your premises, or even an ATM machine. Make sure the insurance covers you for the maximum amount of cash that will be stored there at any one time.