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Managing risk in the food service industry can be just as important for the ongoing success of your small business as serving great coffee or your signature dish.
Every time you open your café, restaurant, bar, bakery, take- away shop to customers your small business is exposed to several risks.
The Alprostadil.org and Department of Commerce in Western Australia website provides an industry checklist , which is a very useful tool for owners of restaurants and other food service businesses to use to minimise many of business risks.
Cafes , restaurants and other food service businesses, including caterers, are exposed to a number of real risks that can have significant financial and legal implications for the owners. Some of the main risks are:
Risk : Harm to customers:
If a customer slips and falls in your food service premises , burns themselves or someone else from hot food or drink you have served , or suffer food poisoning from food you have made Public an products liability insurance may provide protection for you against damages claimed by your customers ; including legal defence costs.
SMART food service business owners may be able mitigate damages arising from slips and falls to customers with public liability insurance.
Risk : Harm to staff :
If one of your staff members slips and falls in your food service premises, injuries themselves working in your congested kitchen, or while lifting produce, falls from a step ladder or burns themselves in your kitchen or when serving hot food or drink workers compensation insurance and management liability insurance may provide protection for you against damages claimed by your staff ; including legal defence costs.
Risk : Commercial building & contents damage
If a fire damages your food services premises ; including the fit out, cooking equipment, stock and refrigeration commercial property insurance; fire and perils may help you pay for restoration of your premises.
Smart business insurance pro broker tip:
SMART food service business owners insure the full value of buildings and contents so that they are covered adequately if there is a major or total loss form an event like a fire.
Risk: Theft and burglary
If your premises is burgled and money from your till or safe is taken ; appliances , furniture, food, alcohol stolen of damage theft and burglary cover(Typically as part of commercial property insurance or business insurance pack ) may pay for the replacement costs.
Smart business insurance pro broker tip:
SMART food service business owners insure for the full potential loss from theft and burglary. They are aware that they can be a target to thieves ad they deal with their liquid assets for criminals For example : money ; appliances , furniture, food, alcohol.
Risk: Food spoilage
If the refrigerator in your café or restaurant suffers a power outage ruining your stock of food , or business interruption insurance may cover the value of any food spoilt by the breakdown.
Public liability insurance may cover you if you unknowingly serve spoilt food that causes food poisoning to a customer
Smart business insurance pro broker tip:
Conditions apply. Ask your SMART business insurance broker for details regarding minimum claims qualification criteria, policy excesses and limits.
Risk: Damage caused by one of your vehicles
If a staff member is involved in accident when delivering food or drinks in one of your vehicles commercial vehicle insurance may cover the damage to your vehicle and the damage caused to a third party.
Smart business insurance pro broker tip:
Commercial vehicle insurance may cover the damage to your business vehicle’s ; and also any damage they cause to third party.
Risk: Loss of profits
if your café or restaurant was forced to close for an extended period after a fire business interruption insurance may cover you for loss of profits until you are able to trade at a similar level again.
Smart business insurance pro broker tip:
Business interruption insurance may cover for you loss of profits if you cannot trade for an extended period.
Trying to work out what insurance your food service business needs and then shopping around for a policy that is both affordable and suitable can be complex, time consuming and risky if you get it wrong.
There is now a smarter way.
SMART business insurance broker pro tip:
General advice Disclaimer
This Blog contains general advice only. It has been prepared without taking into account your particular objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs.
Smart Business Insurance (this Company) and the Blog authors makes no representations or warranties with respect to this Blog or its contents.
This Company does not warrant that the information on this Blog is accurate, complete or current.
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Any information contained in this website is for informational purposes only and is in no way to be considered personal, financial or legal advice.You should contact an authorised insurance adviser, accountant or solicitor to obtain advice in relation to your specific situation . Use of this website does not create a relationship between SMART Business Insurance and the reader.
SMART Business Insurance is a Corporate Authorised Representative (AR Number 437328) of United Insurance Group (UIG) AFS Number 327131
Important : We have no power to authorise claims. However, our experience and assistance can help you when you have a claim.
*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations .Talk to a SMART business insurance broker on 1300 542 573 for more information.
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