Do you own a catering business? Are you concerned about getting the right insurance for your business?
Over 609,000 accidents happen at the workplace in the UK. Many of these accidents happen in the kitchens of food serving businesses. If a worker is injured in your catering business you may be held liable.
Depending on the type of injury, you may have to pay out thousands of pounds that can put your business in financial debt.
Additionally, there is no guarantee that an accident in the kitchen is the only type of liability you may incur. Several things can happen in your business. This is why you need catering insurance.
Here is a look at your best options for protecting your business.
- Decide What Is Important to You
If you run a small catering business that is home-based your insurance needs may be different from someone who runs a larger operation in a rented space. If you run your catering business out of a restaurant your needs may also be different.
Every catering business is unique. Look carefully at the type of risks that your catering business faces and then make a decision about the types of insurance you need.
- Examining The Risks
Caterers face a lot of liability risks. Below are some of the ever-present risks you will face as a caterer.
Food Safety Risks
If someone feels that you have somehow made them sick or made others ill with your food you may be sued. Additionally, if you serve alcohol you may be blamed if someone is intoxicated and damages property or harasses people.
Property Damage Risks
If and when you use someone’s property to host your catering service you could be held liable for property damage. If your catering business is located in your home then you may be able to add insurance coverage via your home insurance. If your business is not located at home then you will need to get a separate policy that covers damages such as natural disasters, fire, theft, and vandalism.
If a power surge should happen your equipment may suffer damage. In addition, many other things could happen that cause your equipment to fail. In order to get your business back on track, you will need to repair or buy new equipment quickly.
Accidents and injury happen on the job all the time. Some of them even lead to death. Slip and falls are common in the catering industry, so are burns and cuts.
If you really want to protect your business you will need to mitigate these risks by getting insurance coverage.
- The Specifics Of Catering Insurance
With all the risks that you take when you operate a catering business, you need to have a way to access cash to pay for all these risks should they become a reality. The only way to have peace of mind and enjoy running your business without having to worry about what lurks around the corner is to get insurance.
There are several different types of insurance available to help you cope with your risks. Here is a look at your best options to secure the future of your business.
Tools and Equipment Insurance
Perhaps one of the most important forms of insurance you can get is equipment insurance. Your equipment is a must-have to ply your trade. If anything gets broken then you will not have to worry about having to fix or replace it out of pocket when you are insured.
If you work out of your client’s home at any time it is possible that you or your workers may damage property. This means you will be held liable to fix it. Public liability insurance helps you to cover these expenses.
If a guest is intoxicated and injures themselves or damages property your business may be held liable. You can protect yourself by getting public liability coverage.
If you employ workers in your catering business you need employers liability insurance. One severe injury can cause your business to go under financially.
Workers may fall on a slippery kitchen floor or burn themselves while cooking just to name a couple of the injuries that can occur. These injuries may require medical attention and employers liability insurance will cover it so you don’t have to.
Accidental Death Insurance
While on the job if you or one of your employees suddenly die your family or theirs will get a substantial sum of money. It doesn’t matter how a death occurs as long as it was during the course of carrying out the job.
Legal Expenses Insurance
With all the things your business can get sued for, it’s a good idea to get coverage for your legal expenses. You may find yourself involved in more than one court case at a time. These court cases may be due to customer complaints
Ongoing legal disputes can drain your pocket and this will negatively impact your business. When you have adequate coverage for these expenses, you can remain focused on growing your business even in the midst of an ongoing legal battle.
A catering business can be a rewarding way to make a living. However, it also carries several risks.
This is why you need catering insurance to safeguard your business. There are so many things that can happen while you carry out your day to day activities. It is possible that injuries, food poisoning, equipment damage, and other unfortunate events will take place, no matter how careful you are.
It is good to prepare for the worse while working to ensure that it will not happen. Insurance coverage ensures that if and when something unfortunate happens you are ready to finance it without your business going under.
If you would like more information about insurance coverage for caterers please visit our blog. We have a lot of information about the proper coverage you will need to ensure that your business does not become financially drained in the event of court cases or accidents.