Everything you need to know about hospitality insurance.

Living

5 min read

Everything you need to know about hospitality insurance.

What is hospitality insurance?

Hospitality insurance is used to describe business insurance that covers companies with entertainment, hospitality, or cultural purposes. This can include hotels, restaurants, resorts, bars, nightclubs, and live events.

As a sector that relies on constant interactions with the public, there are many risks associated with running a hospitality business. This guide will explain why it is important to have protection in place to cover these risks, along with the legal requirements of hospitality insurance.

Is hospitality insurance necessary?

As with any type of business, employer liability insurance is a legal requirement if your business employs staff in some capacity. In addition, it may be possible that some regulators require you to have certain types of insurance. If you use a vehicle within your business operations, motor insurance, whether for a car, van, or motorcycle, is also mandatory.

Building and Contents Insurance may also be fundamental to your policy. This insurance is put in place to compensate for the cost of replacing items if damaged, lost, or stolen, at work. It may cover the cost of replacing items such as stock, shop fronts, furniture, and personal items belonging to your employees and customers.

Why is hospitality insurance important?

Even for those types of insurance that are not a legal requirement, it remains extremely important to have your hospitality business protected against the many risks it is exposed to daily. In the social setting that many hospitality businesses provide, accidents or harm amongst customers and staff are a possibility. For example, if you serve food, a customer may claim that they have suffered from ill-health as a result.

Unfortunate events beyond your control can have a huge impact on your business and the financial consequences of an issue may even be detrimental to your entire business. As a result, having the right hospitality insurance in place is extremely important to protect when something goes wrong.

What needs to be considered when seeking hospitality insurance?

Although we cannot stop any accidents from happening, at AbbeyAutoline we can support you by finding hospitality insurance that suits your business’s specific needs. We work with a range of companies, from shops and offices, and those in the hospitality field, to find the best insurance.

Depending on the type of business that you are operating, it’s important to consider certain factors within your business, as it could affect the level of cover you need. For example, if you run a hotel, pub, or club these factors include whether you open late, if you host live entertainment, if you have an open dance floor and if you employ security staff. If your business sells alcohol, Loss of License Insurance provides extremely important financial cover if your alcohol license is revoked.

For fast food outlets and cafes, your level of cover will depend on certain factors, which include the kitchen equipment you have, whether you deliver food, your opening hours, if your premises have seating and if alcohol is served.

Whatever type of hospitality business you run, the expert team of advisers at AbbeyAutoline are on hand to see your livelihood protected with the right type of cover.

Get in touch with the experts on 08000 66 55 44 today.