Reasons to insure your fish and chip shop
Many people these days are setting up small businesses to try and make their lives better. They could open a grocery or vegetable shop to sell produce to the local community, or they could well open what has become an institution in some countries, the humble fish and chip shop.
However, whatever kind of shop it is, the owner will certainly have to provide insurance cover for the place itself , the people working there and those customers who will be on the premises from time to time. Indeed, trying to run a shop like this without fish and chip shop insurance is really asking for trouble since the owner may well find himself being sued should anything go wrong.
The owner will certainly need employers, product liability and public cover within the fish and chip shop insurance that he chooses. This should be anywhere between the two to five million pound range if the company so needs it. This should include employer’s liability cover up to ten million pounds too in case any employee gets hurt on the premises and this, in fact, is a legal requirement.
Although these amounts look a little on the high side, consider that it must cover things like the stock on the premises, the fixtures and fittings within the shop, any kind of tills or computers inside and things belonging to the customers and employees too. Amounts will add up rather quickly in case of an accident so it is better to be fully covered than have the owner having to cover the extra expenses himself.
The cool thing about having adequate cover too is that even if the equipment breaks down, not only is the repair to the equipment covered, the loss of income will be too so the worry is taken out of having to close down for a day or two.
If something more catastrophic occurs, like an earthquake or flood for example, the cover covers the profits for a full twelve months even if the shop does not trade in that time. If the area is prone to these problems, this cover can be extended to a full three years.
Fish and chip shop insurance is available from Specialist Risks.
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