Right Business Insurance for Coffee Shop

It’s understood, running a coffee shop is really hard work. There are the early starts, the late finishes having to deal with people before they get their caffeine fix and that’s not even mentioning generating customers to start with. Despite the hard work that’s required to run your business, finding the right type of business insurance doesn’t have to be.

Buying the right type of business insurance is vital for any business. Any insurance should cover you for any incident, regardless of the likelihood of it happening.

When deciding on which business insurance policy to sign, you should consider the following.

Public liability

As the owner, you are liable for any and all customers in your coffee shop. To insure yourself against any person or their property is damaged on your premises, public liability is required on your business insurance policy.

Employer’s liability

Are you a sole trader? If not, you’ll have staff. If you have any staff, be it casual, full time, or part time, this cover is absolutely essential for any coffee shop.

Product liability

Product liability is recommended for anyone working with food. As you will most likely be serving some type of fresh food or another from your coffee shop, it’s suggested you include this in your policy. This cover will insure you against such events as food poisoning caused by your product.

Business interruption

This may not be a standard in all business insurance policies, but it may be worth considering when insuring your coffee shop. If, because of damage to your shop, fixtures and or stock, you have to temporarily stop trading this insurance will cover the income you would have lost due to this unforeseen halt in your operations.

Your premises

As a coffee shop owner you can insure your premises (including the building) from natural disasters. If your shop is just part of a larger building consult the body corporate regarding this matter.

Fixtures and fittings

This type of cover refers to the fittings inside your shop as opposed to the cover noted above which refers to the actual building. If you make any changes to your fixtures or you complete renovations that you note these changes on your business insurance policy.

Stock cover

Stock, no matter how it’s stored; if it’s on the premises for any amount of time it needs to be noted on your business insurance policy. Stock cover will cover you for the costs of stock that is damaged or deemed useless through no fault of your own.

Cash handling
As a coffee shop you will (hopefully) be handling large amounts of cash each day. Money cover insurance is essential for any business insurance policy of this type as even the most careful people can lose cash or worse, have it stolen.

Transit cover

After ordering from your supplier or commercial outlet, the worst possible outcome is that these items never arrive or they arrive damaged. Transit insurance covers the costs associated with items lost or damaged in transit.
Being covered is essential for all business; you work too hard to lose it all.

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