Cafe & Restaurant Insurance
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Why do Cafes and Restaurants need it?
Whether you’re serving up the best cappuccinos or freshest fish and chips on the block, business insurance is something every restaurant and café owner needs to think about when it comes to protecting your food business.
Being in the food industry means you interact with people every day, from your regular customers to suppliers delivering your stock, opening an opportunity for potential accidents to take place.
With the right types of business insurance in place, you are not only being a responsible food business owner, but you are helping to defend your restaurant or café from the financial and reputational burden a claim can create.
These are some instances where your food business may need business insurance^:
- If a customer, supplier or member of the public was to accidentally trip, slip or fall, injuring themselves (when not covered by the ACC) on your business property
- If you or your staff were to accidentally damage a third-parties property through your business operations. For example, accidentally spilling food onto a client’s designer wallet, a stray cocktail that damages a mobile phone or the unfortunate event of a customer experiencing food poisoning.
- Public Liability insurance may be a requirement of your rental agreement if you are renting your business premises
- Think about the cost of having to replace all your kitchen equipment and contents if something like a storm, fire or other insurable event were to destroy your food business
Did you know?
Many commercial landlords require the tenant to have both Public Liability insurance and Glass insurance before signing a lease.
Insurance for Cafes and Restaurants
Public Liability insurance is designed to provide protection for you and your food business in the event a customer, supplier or a member of the public are injured (and not covered by the Accident Compensation Corporation (ACC) or sustain property damage as a result of your negligent business activities.
What is covered?
- Compensation for accidental damage to third party property
- Compensation for personal injury or death to third parties where the ACC does not provide cover
- Legal and defence costs
What is typically NOT covered?
- Injury to your employees
- Damage to your own property
- Compensation for personal injury whereby cover is provided by the ACC
- Known claims and circumstances
Protect your business today.
Fire, extreme weather, natural catastrophes like earthquakes and vandalism are just some of the factors that can damage valuable assets in your café or restaurant.
Building: cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).
Contents: covers physical loss or damage to your insured contents as a result of an insured event (such as fire, storm, flood and other perils). Property/Contents can include fixtures and fittings, equipment, stock and furniture.
Portable Equipment Cover*– Covers you for loss and damage to your tools and equipment due to theft, fire and other perils listed in the wording, anywhere in New Zealand.
A Business Insurance policy includes cover for losses to and caused by perils such as but not limited to: Glass, Transit (of insured property within NZ), Money, Equipment Breakdown, Theft, Employee Effects, and refrigerated goods.
What is covered?
- Material damage loss for your physical assets
- Financial loss due to Business Interruption
What is NOT covered?
- Negligence/breach of duty arising from an act, error or omission as a result of your professional services
- Claims arising from damage to third party property or personal injury
- Known claims and circumstances
Business Interruption provides cover for the loss of income and increased costs of operating your food business caused by a specified insured event (such as property damage or fire). It is also designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).
Employers Liability protects you against settlements or damages, including defence costs, as a result of an employee suffering bodily injury arising out of their employment where the ACC does not provide cover (such as gradual impairment injuries).
Statutory Liability covers the company, senior management and employees for allegations of wrongful breaches of key legislation in the course of the Insured’s business. The policy will meet fines and penalties payable in specified circumstances and related legal expenses.
How much does Restaurant and Café Insurance cost?
No matter if you are a fast-food joint or a degustation diner, every food business is different. That’s why there isn’t a blanket price when it comes to business insurance for restaurants and cafes. When calculating the price of your policy, there are some factors which are used to help calculate your premium.
Some of these may include:
- The size of your business
- How many staff you have?
- The type of food business you are running
- The type of coverage you take out
- Your excess
- The level of cover
- Your claims history
- Location of your business
Do I need Product Liability insurance?
Product Liability insurance is often included in your Public Liability insurance policy, but it is always a wise move to check your product disclosure statement to make sure you do have this cover in place.
Product Liability insurance protects your business against claims by third parties relating to property damage or personal injury (not covered by the Accident Compensation Commission (ACC)) caused by your products.
If you are selling products as part of your food business, then you may want to consider ensuring you have cover for Product Liability with your Public Liability insurance.
Get more information
Want to know more about insurance and other tips and tricks to help your food business? Head to our blog for jargon-free articles, ideal for reading when you get a moment to treat yourself to that hard-earned coffee break.
Insurance options for retailers
Running a retail business is fast paced with plenty going on, so we understand that time is precious. That’s why we’ve done the research for you with our simple guide to understanding the different kinds of insurance options out on the market for retailers.
How to open your own retail business
If you’ve been thinking of taking the leap and opening your own retail business, get inspired and informed with our guide on top tricks and tips to starting your own retail business.
* This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.
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Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals.
You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents.