WHY DO RESTAURANTS & CAFES NEED COVER?
Staff, stock, the menu and your customers are your main priorities. Ensuring you are well protected is ours.
Dangerously some restaurant or café owners take out a basic insurance policy with public liability insurance only to satisfy the landlord’s requirements as per the lease. But most of the time this is no where near enough when it comes to protecting your business and your livelihood.
At Cursio Group, we’ll advise you on the covers you should consider based on your individual and business needs and also provide multiple competitive quotes from leading insurers who specialise in your exact occupation. The best part is we manage all of this for you saving you money and time as well as managing all your claims on your behalf as they may arise.
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INSURANCE FOR RESTAURANTS & CAFES MELBOURNE
We’ve been looking after cafe and restaurant owners in Melbourne since the 80s and we’d like to share our expertise with you as well.
There is no shortage of potential hazards in the restaurant or café environment, and you need to protect your business from any likely claims. These could arise from a waiter dropping hot food on a someone, serving food that makes someone fall ill or a customer slipping over on a wet surface area as examples.
Even though you can’t necessarily insure your Instagram likes or your online presence, you can insure the building and all your contents with a combined business pack:
• Building – if you own the building you will want to be able to rebuild or restore quickly in the event of a burst pipe, small fire or major loss
• Contents – protection for damage to your tables, chairs, coffee machine and other fixtures and fittings
• Machinery breakdown – if you store fresh food onsite in freezers, fridges or cool rooms you will want to insure them for machinery breakdown as repairs can be costly. You can even extend cover for deterioration of stock so that if your fridge motor burnt out and your food was spoiled you can include the cost of replacing these items in your claim
• Business interruption – like income protection for a business, you need cover if the chips are down. What happens if there are major power outage, your frontage is blocked due to major roadworks or a fire forces you to close for months?
You will not only loose daily trade but potentially never see loyal customers again. You can insure for this and have your gross profit paid to you while you are closed.
If you have a team of two or more, you should consider the risk of making a mistake as the owner or manager.
• Protection against bullying and harassment, discrimination and unfair dismissal and EPA Fines.
• OH&S matters
• Incorrect disposal of waste and garbage
• Theft by employees
As a restaurant owner you can take the stress out of an ATO investigation by having cover for professional costs to prepare for your audit.
As a restaurant owner your exposure could even be at the payment desk – with your EFTPOS machine hacked.
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The truth about online insurance websites and direct sales
When you buy insurance directly from an insurer online, or from a comparison site which sells but doesn’t service you in the event of a claim, you are effectively flying solo. This means that if a potential claim arises you need to argue your case to be paid without professional help on your side. It’s a bit like fronting up to a court hearing without your lawyer. The chance of winning would be quite low.
If you are wondering why sometimes you can find really cheap insurance policies online, you should firstly read the fine print and secondly understand the probability of a claim being paid. They say about 40% less claims get paid in the direct market vs the broker market because brokers ‘know what they are doing’.