Pubs and licenced trades insurance
Who it’s for
If you are an individual, a business or a partnership running a pub or licensed trade premises, then you will have a requirement for business insurance. It is not a legal requirement, unless you have employees. However, the sensible and prudent business owner will know that it is better to spend £500/£1,000 per year on a decent policy instead of being faced with a claim for thousands of pounds.
What you need to do is to look for a suitable licensed trade and/or pub insurance policy for the business.
It may be that if you are leasing the business from a pub group, then you will not need to insure the buildings. However, the contents, money and liabilities are your responsibility and you need to have your own policy in force for these covers.
Why it’s important - examples
Pub insurance is important for many, many reasons, not least that you will have a policy in force that will not only provide cover for valid claims, but will help defend you against spurious claims.
If you lease, or rent the business premises, you may not be responsible for the Commercial building insurance, this would normally be arranged by the brewery or the owner of the building. They will normally charge you on an annual or monthly basis along with your rent.
You could possibly have a full repairing and insuring lease which will mean you are responsible for arranging your own insurance for the structure, even though you do not own it. In this case you would arrange the insurance and the owners of the building would have their financial ownership noted on the actual policy.
If it is leased and you make improvements, these are insured as tenants improvements. This would include items such as laminate flooring, false ceilings, fixed mirrors etc.
If you need to insure stock, this will include alcohol, wines, beers and foodstuffs.
Tobacco. Nowadays not many businesses sell tobacco, but you can still include cigarette machines.
Gross profit, business interruption or loss of income
cover in the event, of a say a flood, and your business being closed for a few months and losing out on profits.
Public, products and employers liability insurance. If you have employees, you need to have valid cover in case they are injured during the course of their employment. If members of public are injured, then you need to have publoc liability insurance.
Deterioration of stock and loss of licence. This covers you if you have a freezer breakdown, although insurers would need you to prove that there is a maintenance agreement in force. You can get cover if you lose your licence but only for things 100% outwith your control. This provides cover for the reduction in value of the business, without the licence.
This covers you for your own household goods in your flat, or residential quarters, away from areas open to the public.
Goods in transit insurance, covering you for stock that you may pick up from the cash and carry.
Commercial legal expenses – Get your quote now
How businessinsure can help
Businessinsure are an independent business insurance broker, we have access to a number of different underwriters and can provide a business insurance quote for all types of licensed trade premises.
This will include traditional pubs, wine bars, late opening bars and all types of premises licensed to serve alcohol to members of the public.
We have agencies with over a dozen commercial insurance companies who have specialist package pub insurance policies.
Premiums are very competitive and start at £450 per annum and can be paid in interest free monthly instalments. We can help you, give us a call to see what we can do.
More information
We can provide quotes, and instant cover, for most types of licensed trade premises, including the following:-
Public House or Pub without a restaurant or any food serving capability
Public House or Pub with a restaurant, even if the restaurant is run by a third party
Public House or Pub with letting bedrooms, any more than 6 letting rooms and we may place this in a specialist hotel insurance policy
Public House or Pub with entertainment, depending on whether there are door persons, an entrance fee and late opening will affect the ability to get an insurance quote.
Lock up Public House or Pub that is not occupied overnight by you or any member of staff
Public House or Pub with bar food or bar snacks (cooked)
We really know the pub industry inside out, if your existing broker is looking to increase your premium, don’t accept this without speaking to Businessinsure first.
We can only provide unoccupied buildings insurance for pubs, if the property has been empty for less than three years and you have planning permission in force, to convert to a residential building, and the work is due to start in 60 days.
Pub insurance policies are very similar, but there are differences in cover, price, conditions, warranties, excesses and terms.
This is where you need to speak to a business insurance broker to help you see through the fog and decide whether policy a, b or c is most suitable for you and your demands and needs.
Let businessinsure do this for you, you may be surprised at how much you could save, for comparable cover.
Quoteline: 08456 024 589 (local call rates apply)