Holidaymakers failing to check their travel insurance

In this month's edition, we've details on what's provided in restaurant, pub and bar insurance, as well as providing a guide to insuring your office.

There's also a look at startling news uncovered by Which? on the inaccuracies of car insurance policies provided by price comparison sites, and a look at a key part of the holiday experience that British people appear to be overlooking. 

A Guide to Restaurant and Pub Insurance

 

Running a business within the hospitality sector comes with its own set of unique trade risks and challenges. To ensure that your customers, employees and business are protected, it is vital that you have a comprehensive business insurance policy that can protect you against your unique risks.

A Restaurant, Pub and Bar Insurance policy differs depending on the provider. Like most policies, it incorporates elements of many standard business policies, whilst also covering you for your industry-specific risks.

So, what is included in a Restaurant, Pub and Bar policy?

The first protection that is included in a Restaurant, Pub and Bar policy is Employer’s Liability. The hospitality sector relies on an eclectic mixture of staff, from management to temporary and part-time workers. This has led to the misconception that due to the ever-changing and often temporary nature of their workforce, business owners aren’t required to insure their employees. In fact, it is a legal requirement for all businesses with an employee to have an Employer’s Liability policy.

A standard Restaurant, Pub and Bar policy will also include Public Liability cover. Should a customer or a third party (for example, a delivery driver) injure themselves on a hazard on your premises – such as a loose step or wet floor – then you could be subjected to a personal injury lawsuit. Public Liability can assist in covering the costs of the case.

What are the extras?

Depending on your situation, you may wish to consider additional coverage for your business.

If you own the premises that you operate out of, you might wish to consider a Buildings Insurance policy, especially if you are concerned about flooding or fire damage.

Your premises will be filled with furniture, decorations and fixtures, which can be costly to replace if they are damaged. A Contents Insurance policy can assist with the cost.

Should you have a good deal of stock such as food, beverages and alcohol, you might want to purchase protection – for both when it is in storage and when it is in-transit. These two covers can also be upgraded to include cash when it is on the premises and in-transit.

Losing your liquor licence could spell the end of your business – especially if you are operating a bar or pub. It is possible to get loss-of-licence insurance, which (depending on the circumstances) can compensate you until you get your license back.

 

Do I need office insurance? What does it cover?

 

Offices are the hub of the majority of UK businesses, with important documents, customer details and data, finances, equipment and furniture all stored in one building. This represents a large risk to their owners.

Do I need office insurance?
Whilst not a legal requirement, like Employer’s Liability Insurance, you still might need an office insurance policy. It will come down to whether you can afford to operate without the protection and peace of mind that comes with an all-encompassing insurance policy. You should also consider whether you can afford to continue operating should a disaster befall your office space.

OK, so what’s covered?
A standard office insurance policy will include contents insurance for protecting your furniture and equipment in the event of theft, fire or flood and other forms of loss. From there, many of the policies can be tailored depending on your needs.

For example, some policies will assist with the cost of paying for business continuity. This will allow you to temporarily relocate your business, hire equipment and furniture so that you can continue to trade, should your current premises and equipment be rendered unusable or unavailable due to a loss or damage. Some policies can be tailored to a point that they cover your windows against accidental or malicious damage.
If you handle or store cash on-site, it is also possible to gain protection for your cash whilst it is on your premises, and in some cases, even when it is being transported to the bank by an employee.

Is there anything that won’t be protected?
That’s the best part! Office insurance is usually made up of bolt-on policies rather than unchangeable core policies. You can tailor the policy to protect your business against the risks specific to your sector.
Whilst most businesses can comfortably protect themselves under a business contents insurance policy, it never hurts to have a policy that is specifically tailored to your work environment. Whilst every office is different depending on the type of business, an office insurance policy can be specifically tailored to the needs of your business whilst being all-encompassing.

Price comparison sites are 'rife' with mistakes, says Which?

 

It’s almost certain that most internet users have used a price comparison site at least once over the years. The Competition and Markets Authority found that over 80% of internet users have utilised their services, so an investigation carried out by consumer advisors Which? that uncovered a startling amount of inaccuracies on car insurance policies could potentially affect a huge amount of drivers.

Which? discovered that mismatching details were found within six out of ten policies listed, suggesting that policies that are being purchased through price comparison sites were unsuitable for their drivers’ requirements. Within those offending policies, at least one detail was found to be inconsistent with the information contained within the policy documentation.

The range of irregularities is particularly damning. For example, less-than-reliable levels of cover in the event of personal accident, with one provider offering cover of up to &5,000 for disability on comparison sites, but with their policy documentation stating that their actual limit was half of that mount. Ten claims were also found from providers confirming that a courtesy car would be provided if repairs to your normal vehicle are required, with the policy document offering no guarantee of this detail at all.

Larger groups were also found to be providing highly similar policies under different brokers, with 30 of the top policy results found to be offered by as little as 12 providers. Indeed, some near-identical policies appeared as often as eight times across four price comparison sites, with frequently the only difference between them being the provider.

“We were staggered to see such a high amount of errors across the policies listed on price comparison sites,” said Which?’s money editor, Harry Rose. “Millions of consumers visit these websites, hoping to find all the information they need to make an informed decision in one place - yet our findings cast real doubt on their ability to do so.
“These sites should up their game to ensure customers know exactly what they’re purchasing and from whom, otherwise they might well end up with policies and contracts that simply don’t meet their needs.”

Several price comparison sites contacted Which? in the aftermath of their report to offer assurances that their policies remain consistent, from site to policy documentation, and are regularly checked for any inaccuracies. Regardless, the best course of action at this stage appears to be to warn consumers not to take car insurance policy details on price comparison sites as definitive proof of the policy’s details, given how easy it appears to be to purchase a misleading, inadequate policy.

Holidaymakers failing to check their travel insurance

 

When it comes to booking a holiday, there’s often a never-ending list of things to remember. From clothes to books, appropriate footwear to toiletries, or simply making sure that your pets will be fed in your absence, there’s plenty that you need to prepare for when leaving your home behind for a much-needed getaway. However, a new survey has suggested that British people are overlooking something particularly important when it comes to their holiday preparations.

MoneySuperMarket.com, who polled a selection of 2000 holidaymakers, has revealed that a staggering 80% of British citizens do not check their travel insurance policy to confirm whether their insurance provides appropriate cover for their holiday.

Nowhere is this lack of knowledge more concerning than when it comes to a favoured pastime of Brits on holiday; drinking. The survey suggested that 67% of those asked would be drinking on their holiday, but only 54% were aware that being under the influence of alcohol could invalidate a claim.

The figures are worse still for those polled who intended to undertake an ‘extreme’ activity like skydiving or jet-skiing; 80% were unaware of any injury sustained whilst taking part in something along these lines would be covered by their policy.

A plethora of other activities can also invalidate your travel insurance, such as not having the correct inoculations, injury sustained from a physical altercation and failure to take prescribed medication. Holidaymakers with a penchant for sharing their day-to-day lives in social media should also be aware that injury sustained whilst taking a dangerous picture (e.g. A selfie close to a waterfall or cliff edge) will not be covered if reasonable care is not undertaken.

With these findings in mind, Anna Sant, a travel insurance expert at MoneySuperMarket.com has offered a warning to consumers: “Personal injury claims can fail because of suspected intoxication, so it’s worth reading through your policy in full to make sure you don’t get caught out. As a general rule of thumb, the cheaper your policy, the more open the clause around alcohol is to interpretation. In many cases, especially with cheaper policies, it’s up to the individual to prove that they weren’t under the influence of alcohol when they got injured, which can prove almost impossible.”

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