Understanding the Effectiveness of Takeaway Insurance Policy

Takeaway insurance is a special insurance policy tailored to protect the takeaway businesses from unanticipated financial risks. This policy applies to all classes of takeaways such as, fish and chip shops, kebab shops, Indian & Chinese takeaways, sandwich bars, pizza parlours, and other food establishments.

It is a comprehensive policy that takes into account the business specific risks (like damage caused from fire accidents, gas explosion, etc.,) as well as generalized risks (employers’/product/public liability). This policy ensures that the business is protected against all the possible risks and runs smoothly without any interruption.

As a takeaway owner, you need to consider this insurance to protect your business, your customers and your employees.

Liability claims: Public, product and employers liability
Takeaway insurance provides protection against all the liability claims that a takeaway business can face. It covers the compensation amount and the costs of litigations from these claims.

As takeaways involve movement of general public/customers in their premises, it is better advised to have public liability insurance. This coverage comes handy in instances where, the third parties get injured or their property gets damaged because of the negligence of your staff or an unfortunate accident (like, a customer gets injured by the broken pieces of glass, which your staff member has forgot to clean).

Takeaways are at more risk of facing product liability claims. Product liability insurance is designed to cover and protect your business against claims made by a customer, when he/she purchases a product from your takeaway that causes him any harm – due to spoilt frozen food, poor food quality, transit of food in unsanitary conditions that leads to food poisoning.

Employers’ liability insurance protects your business against claims made by employees for the injury or death caused to them in the course of employment. In takeaway business, employees are exposed to many catering tools like, knives or deep fat fryers, etc., which may accidentally injure the employee in course of work. Hence, it is suggested to have this insurance.

Damages to building, equipment, and other contents
You should insure your building, kitchen equipment, stock, fixtures and fittings, and other contents against events like natural disasters such as flood, hurricanes, earth quakes, etc., as well as man-made accidents such as, fire accidents, explosion of gas, burglary, vandalism, etc. This policy will provide coverage for the business against losses from the above.

Business interruption
All the above mentioned natural disasters or man-made accidents can result in huge financial loss to your businesses as they interrupt the business operations. Apart from the repair or restoration costs, your business also suffers from loss of income till the time the business regains its original form. Takeaway insurance also offers financial help for the lost income.

Having considered the benefits of takeaway insurance policy, you cannot afford to ignore it. Consider taking advice from reputed and professional insurance brokerage while purchasing the policy. These firms analyse your business specific risks and suggest you the right policy for your takeaway business, so that you are neither under-insured nor over-insured.