Recent years have seen a boom in coffee drinking amongst Britons, with more than 20,000 coffee shops open in the country by the end of 2015 – according to a report in the Telegraph newspaper on the 13th of December 2015.
The same report suggests that this is a market fast approaching nearly £8 billion in value. A market that has reached these proportions has also required some considerable investment on the part of coffee shop owners.
With that investment – whether in a small, family-run business or a mega-chain – also comes a range of risks and perils. These threaten the smooth running and financial success of the enterprise, through loss or damage to its physical assets, disrupted business or from claims relating to the owners’ alleged liability.
All this points to the prudent owner looking to protect his or her investment through the appropriate form of insurance. That is where constructaquote.com comes in, as specialists in the provision of small business insurance.
Why choose us for your coffee shop insurance?
- Our specialist knowledge in arranging cover for a whole range of coffee shops, cafés and tea rooms
- An expertise that has been built up over 25 years in the business
- A service that continues to receive ratings of “good” or “excellent” from more than 95% of our customers
- Add-on cover that provides up to £10 million employers’ liability insurance as standard.
What’s included in coffee shop insurance?
Coffee shops, cafés and tea rooms come in all shapes and sizes and may be found on practically every high street and in every corner of the UK. Coffee shop and café insurance may be tailored to suit the particular and individual needs of every kind of establishment.
In other words, insurance cover may be as varied and as individual as the coffee shops themselves.
Nevertheless, here are some of the principle components which may lie at the heart of this kind of business cover.
Setting up shop is likely to have been expensive
If you own the premises from which you are running your coffee shop, there is of course the very structure and fabric of the building to protect – with insurance cover that anticipates a worst case scenario of a total loss and your need to rebuild it from scratch.
But even if you are renting the premises, you are still likely to have invested a considerable sum in the all the kit, equipment, fixtures, fittings, furniture and crockery that is needed to run the business. Cover for all of this remains your responsibility – and not your landlord’s – so you might consider it wise to arrange appropriate cover.
Depending on the value of these contents, and the amount you are prepared to pay in insurance premiums, cover may be on the basis of replacing lost or damaged items with brand new replacements or with an allowance made for their wear and tear or general depreciation over time.
Insuring against disruption to your business
Did you know that insurance might also help in protecting your business from a temporary loss of income?
If your coffee shop is hit by a significant insured event, you might have to close whilst repairs are made, kit and equipment replaced and the premises generally made ready for business once again. During that time, of course, you are losing the income you would otherwise enjoy.
Business interruption insurance helps to guard against such a loss by providing compensation – up to a level determined by the amount you are paying in premiums for your café insurance.
The “hidden” risks of liability claims
Whilst the risks of loss or damage might be reasonably clear and obvious, there are the more stealthy threats to your business posed by those who may claim you have been negligent in some way as the owner – or as the employer of staff if you have them.
Your coffee shop thrives on the number of customers coming through your doors. If one of them trips, has a fall and sustains an injury, however, you might be sued for negligence – a claim based on the allegation that you have somehow breached your duty of care for the well-being of the customer in question.
That duty may extend even to the passer-by or to neighbouring properties.
If any of these customers or members of the public suffer an injury or have their property damaged in an incident for which they hold you responsible, you may be ordered to pay a substantial sum in compensation.
Public liability insurance is designed to provide indemnity against such claims.
If you employ staff to help run your café, moreover, the law demands that you have employers’ liability insurance – to a minimum of £5 million – to cover against claims made by any employee who suffers an injury or contracts an illness or other medical condition as a result of their employment.
At constructaquote.com we can help with all your coffee house insurance needs, so why not get in touch today to how we can protect your business?