Restaurant bars and grills are loved for their friendly and neighbourly atmosphere. They are the favourite hot spots of daters and young professionals alike, and are key to our multi-national cityscapes. However, many dangers put this type of business at risk. Tight profit margins, new legislation, licensing regulations, legal issues and the cost of living crisis is make managing a restaurant bar a complex endeavour. NDML understands this, and it’s our mission to work alongside bar owners to deliver insurance that suits their needs.
Restaurant bar insurance aims to address the specific needs of restaurant bars, and in turn, a key section of our city’s landscape. Brokers will take into account your needs, provide guidance, and help develop an insurance policy that fits your requirements. This can include your building, business operations, belongings, staff and customers. NDML are dedicated to working with you and insurers to find a suitable insurance solution for your restaurant bar.
Restaurant bar owners will require a range of insurance options within their policy. At NDML, we offer both quality and quantity, only providing the best comprehensive cover to our clients. Here are the key policies which are required to be within your insurance portfolio:
– Public Liability insurance for a bar can protect you against slips trips claims and third-party damages. This is recommended for every business.
– Employers’ liability insurance can cover restaurant bar owners against claims made by employees.
– Buildings and contents insurance for restaurant bars owners is recommended for the protection of your premises against 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 restaurant bars can cover against loss of business due to the after effects of a claim or unforeseen circumstance. For any periods you cannot carry out business, this insurance policy can cover the loss of income in line with the profit you would have made subject to agreed limits.
– 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 it’s damaged, lost, stolen or destroyed.
– Money insurance can protect your bar’s onsite money as well as any finances in transit to the bank.
All 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 may be suitable for clients of a certain type or area. We want to help grow the sector by protecting it.
The cost of insuring a bar varies depending on the size, capacity, location, condition and history of your venue. A broker such as ourselves can help to support you in selecting an appropriate option. NDML can work with you to perform a risk assessment and help you select a policy which is appropriate for your bars' needs.
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 will 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 support you in selecting a suitable policy.
In 2008, the legislation was amended to allow business to display their certificate 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 you employees.
