Cocktail bars specialise in refinement and sophistication. This diversification of the hospitality sector has a firm grasp on the top 100 list of world’s best bars. Chic, stylish and exclusive; cocktail bars blend molecular mixology with outrageously tasteful decor.
Yet, many dangers put these establishments at risk. New legislation, licensing regulations, legal issues and the general tightening of people’s wallets due to the cost of living crisis is make managing a cocktail bar a complex endeavour. NDML understands this, and it’s our mission to work alongside business owners to deliver insurance that is suitable to their needs.
Insurance for cocktail bars aims to address the specific requirements, and in turn, a key section of our city’s landscape. However, insurers won’t provide an appropriate policy without guidance. Brokers will take into account your needs, provide that guidance, and help develop an insurance policy that fits your requirements. This would include your building, business operations, belongings, staff, customers; all while fitting within a budget. NDML are dedicated to working with you and insurers to find an insurance solution for your cocktail bar.
At NDML, our experience in the leisure and hospitality sector means we’re well placed to support you in sourcing your cocktail bar’s insurance.
Cocktail bar owners will require a range of insurance options within their policy which could include.
– Public Liability insurance for a bar can protect you against slips trips claims and third-party damages.
– Employers’ liability insurance can cover cocktail bar owners against claims made by employees.
– Buildings and contents insurance for cocktail bars owners is crucial for the protection of your premises against damage such as theft, fire and flood.
– Directors’ and Officers’ liability for bar owners can cover the compensation costs of claims made against CEOs and company directors.
– Business Interruption insurance for cocktail bars can cover against loss of business due to the after effects of a claim or unforeseen circumstance. For periods you cannot carry out business, this insurance policy can cover the loss of income in line with the profit you would have made.
– Loss of Licence policy can protect against the negative effects of having your license revoked.
– Stock insurance can cover the cost of replacing stock if its damaged, lost, stolen or destroyed.
– Money insurance can protect your bar’s money on site as well as any finances in transit to the bank.
All of the above covers are subject to policy terms, conditions and exclusions.
We work with a wide range of hospitality businesses, including: bars, clubs, pubs, nightclubs and hotels. We offer commercial combined cover as well as business protection. We also offer additional covers which are recommended for clients of a certain type or area. We want to help grow the sector by protecting it.
At NDML, we aim to provide suitable cover at an appropriate price. It’s why we are one of the leading insurance brokers for bars and nightclubs. We’ll help you find appropriate bar insurance that provides suitable protection for your bar.
We firmly believe that delivering the right insurance is a matter of experience. Our team will get to know the individual needs of your bar, we’ll get to know your people, perform a risk assessment, and then find appropriate cover based on your needs.
The cost of insuring a bar varies depending on the size, capacity, location, condition and history of your venue. For the most appropriate insurance cover, use a broker. NDML can perform a risk assessment and source a suitable policy to cover the needs of your bar.
Employers’ liability insurance is required by law for all UK businesses. If you don’t have it, you could be heavily penalised. Public liability insurance is recommended to cover the possibility of an injury claim and buildings and contents insurance can cover against instances such as damages or theft. There are many other types of insurance a bar may need. NDML can assess your needs and roll up your insurance into a suitable policy.
In 2008, the legislation was amended to allow business to display their certificates electronically. The law requires you to have your employers’ liability insurance certificate readily available. It does not need to be immediately visible to customers, but it does need to be readily accessible to your employees.
