No matter what happens, people have to eat. Across the UK there are thousands of businesses making, preparing, and selling food and drinks to millions of hungry and thirsty customers. The products these businesses sell may vary considerably, but they all have one thing in common – they’re at risk if anything goes wrong with the food or services they provide. To avoid potentially catastrophic compensation claims, costly repairs, or mounting legal bills, food and drinks businesses turn to food insurance to protect them if the worst should ever happen.
No matter if you operate a restaurant, a food truck, a takeaway delivery service, or you manufacture foods for commercial or consumer markets, you need professional food insurance.
Despite your best intentions and quality and safety due diligence, there is always the possibility that things can go wrong. A simple food poisoning claim, fire or flooding at your premises, or even a malicious social media post has the potential to leave you facing enormous compensation claims, expensive repairs, or massive legal costs that could ruin your business. Consider these examples of common but still devastating events:
These are just a few of the things that can go wrong in any food business. Fortunately, in every case food insurance has turned potential disaster into a mild event. But think again. If any of these incidents happened to your food business and you did not have insurance, could your operation survive?
Food insurance is an umbrella term for a range of business insurance policies that can protect food businesses from the impact of almost any unwanted event. Essential food insurance includes:
Public liability insurance protects you if someone is injured, or their property is damaged because of the products or services that you or your business provides. This type of cover, also known as PL or Liability Insurance, is designed to protect your business against third party claims for injuries or property damage from a customer or client, passer-by, or a visitor to your business premises – whether you’re at fault or not.
Product liability insurance (PLI) – also known as ‘product insurance’ – is designed to protect companies, partnerships, sole traders and the self-employed from financial loss in the event that someone is harmed, or property is damaged due to the products that they supply.
Important tip: Product liability insurance for food businesses isn’t only for manufacturers, farmers or chefs. In the event of an accident, your food business could be held liable even if you only distributed the product and had nothing to do with its creation.
Business interruption insurance covers you for lost income if your business is unable to operate due to an unexpected event. This would include incidents such as:
Food liability insurance can protect your food business from the financial impact of accidents, errors and omissions with the products and services you provide. This includes:
Insurance for food manufacturers or retailers can cost as little as £35 per month. However, the premium you pay will depend on a range of unique factors, such as the type of business you run, the scale of your business, where you are located, and the types of products you sell.
All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t let one bad ingredient or a simple accident cook your business for good. Contact Swoop today to compare top-quality food insurance from different providers and to discuss all your business insurance needs.
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