May 28

The Value Of Having Commercial Pub Insurance

If you own a pub, then you should not avoid buying pub insurance. Your business needs to be adequately covered. Putting this off would mean putting your business at risk. The insurance policy provides coverage against claims from employees, public, replacing equipment, replacing stolen stock, damages and so on.

It is of utmost importance that you identify an insurance agent who knows the job perfectly. If the executive is not able to meet your expectations, he obviously is delivering badly and may not be able to help you out when you really need it.

It is the duty of the insurance agent to get you the correct policy that suits your needs and demands. Even in such competitive times, there are many insurance providers who fail to recognise the true value of an esteemed client and lose out on future business. All they are interested is in effecting quick sales.

Check for a cover that specifically is made for pubs, and the insurance broker should be able to understand the requirements of your business. If you want your pub to be considered a separate class or in a separate grade, then you need to mention that to the insurer so that he does not put you in the same grade as that of hotels or nightclubs.
Pub insurance provides coverage against claims from the public. It covers claims from members who deal with your business and for whom you are legally liable. A customer or a client who injures himself when in your pub may claim compensation, and your insurance policy must be able to cover expenses arising out of such an accident. These injury claims can be quite high and without such a policy cover, you could be at a risk, and making payments for such claims all by yourself can be quite an expensive deal.

Employers’ liability insurance is being made mandatory by many insurance providers. Check with your insurance provider whether the pub insurance policy covers liability insurance. Expenses related to injuries to your employees while working at your pub is covered under this cover. These claims are very much like third party claims and may cost thousands of dollars. Hence, do not miss out on this as it could prove to be costly in the long run.

The insurance policy also covers the stock and equipment found inside your pub. In the event of a fire, it covers damage occurring to the food and drinks, furniture and other supplies of the pub. This means that the contents of the pub are covered under pub insurance.

It is imperative that you know the correct insurance policy before settling on any one. Understanding the premium rates is very important. Check out if you would be given further discounts, if you make the premium annually.

It is also of essence that you understand the insurance cover properly and request the broker to cancel unnecessary covers, so that you can save on the premium.


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