If you have spent years of your time, invested money and devoted all of your efforts to building a successful business, what is your next step? There are three simple ones for you to consider.
Firstly, continue to build up the business and do the things that you know your customers like and want. Secondly, you could decide to sell up. And thirdly, you may decide that your formula for business success is so good that you want to open up additional businesses. All three of these are excellent ways forward. But what happens to your restaurant insurance, if you want to pursue the third option and expand your business empire?
In 2010, most business insurance policies offer the option of adding further premises to your main policy. There are benfits to this, you will only have one policy, one renewal date and one monthly instalment. There are also downsides because it will be difficult to separate out the insurance costs unless each business is identical. Whilst you always have to decalre claims or losses, if you have two separate policies you are less likely to see an increase on both policies.
As we always recommend, you should arrange your cover through a business insurance broker. Their job and role is to guide and help you through every step of the process. If they think you will get a better discount from the same insurer, they will be able to speak to the insurer to make sure that you don’t lose out either step of the way. The key thing is for them to make sure that you get the best premium and the best cover.
Multi-location premises are easily available, but certain direct insurers may try to suggest that you cannot put on one policy. If this is the case, and you want one policy, you should speak to an alternative provider as the option is always available for you if required.