Catering Insurance is an essential part of running a successful catering business. It protects you against unexpected events such as fire, theft, and natural disasters.
But what exactly does catering insurance cover? And what doesn’t it cover?
In this article, We’ll explain what catering insurance covers and what it doesn’t cover. You can also find out how to get the best deal on your policy.
So let’s start with some basics…
1) What Does Catering Insurance Cover?
The most common event types are covered by catering insurance: weddings, parties, corporate functions, conferences, exhibitions, festivals, etc. But other things may be included in your policy, too – for example; if you run a restaurant or bar, you might have public liability insurance (which will protect you from claims made by customers). Or maybe you provide food services at sporting matches so you need sports equipment damage insurance.
2) How Much Should My Policy Cost?
This depends entirely on what type of event you’re planning to cater. If you plan to host a large wedding reception, say 100 guests, then you’ll probably want something more comprehensive than just basic catering insurance. A good starting point would be £10-£15k per year, depending on the size of your venue. For smaller events like birthday parties, receptions, etc., you could opt for less expensive policies which only include basic coverage.
3) Do I Need To Be Insured By The Same Company As My Caterer?
No! Most companies offer their bespoke policies explicitly tailored to meet the needs of individual businesses. So even though they all use the same insurers, each company has its unique requirements and terms & conditions.
4) Can I Get Multiple Policies From Different Companies At Once?
Yes! Many people choose to buy multiple policies from different providers because they don’t trust one particular insurer. This way, if any single provider goes bust, you still have another option available. However, make sure you read through the small print carefully before signing anything. Some policies won’t allow you to combine them into one package.
5) Is There Any Way Of Getting An Instant Quote Online?
Absolutely! All you need to do is visit our websitewhere we’ve created a simple form for catering insurance quote. We’ll send these straight over to you via email within minutes.
6) Are Event Organisers Required To Have Their Own Insurance Coverage?
Not necessarily. In fact, many event organisers prefer not to carry insurance themselves but rather rely on the security provided by the venue hirers. They know that the venue owners take care of everything else.
7) Will My Business Be Affected By Cancelling My Current Policy?
Not at all! Your current policy should remain active until the end date specified in your contract. After that time, you simply cancel your old policy and replace it with a new one.
8) What Happens When You Cancel Your Policy Before It Ends?
If you decide to cancel your policy early, you can either pay an additional premium to extend your existing term or purchase a replacement policy. Either way, this means you’ll continue paying premiums throughout the remainder of the original policy period.
9) Does Catering Insurance Cover Meals That Don’t Come Out Of The Kitchen?
It’s unlikely that you’d ever require such extensive protection as this. But if you did, there are specialist food handlers’ insurances out there designed to protect against accidental damage caused when preparing meals outside of the kitchen. These usually cost around £100 – £200 per annum.
10) How Much Should I Pay Per Year On Catering Insurance?
The price will depend on how much risk you face and whether you’re looking for general liability, public liability or employers’ liability. Generally speaking, most business owners spend between £1,000 – £2,500 per year.
11) Who Pays The Premiums And Where Do They Go?
The majority of catering insurance premiums go towards covering claims made under the policy. Claims may arise due to accidents involving staff members, equipment breakdowns, fire, theft, vandalism, malicious acts, natural disasters, etc.
12) Why Would Someone Want To Carry Caterers Insurance?
Caters insurance protects businesses against financial loss arising from events like:
– Accidents ;
– Fire;
– Theft;
– Malicious Acts;
– Natural Disasters.
13) Can A Caterer Get Multiple Policies From Different Insurers At Once?
You certainly can. If you want to get more than one type of coverage, you could get separate policies from each company. Alternatively, you might be able to bundle several types of coverages together into one policy. For example, you could insure yourself against property damage and personal injury risks using two separate insurers.
14) Which Type Of Catering Insurance Is Best Suited To Smaller Businesses?
Smaller businesses often find that standard commercial insurance products don’t meet their needs. Therefore, they tend to opt instead for specialized insurance packages which cater specifically to their individual requirements. Examples include:
- Public Liability ;
- Employers’ Liability.
15) Are There Any Special Features Or Benefits Available With Commercial Insurance Products?
Yes, there are plenty of benefits available with commercial insurance products. Some examples include:
- Deductible amounts;
- Extended warranties;
- Guarantees;
- Free legal advice;
- Discounts;
- Reimbursement of costs incurred during claim investigations;
- Reduced rates, etc.
Conclusion
As we’ve seen in our guide to catering insurance, it is important to understand what sort of insurance you need before purchasing any product. This includes knowing exactly who would benefit from having the right level of cover. It also involves understanding what sorts of things you should look for while shopping around for the best deal possible.
We hope you found this helpful article!
