Ready for a quick story every pub owner should hear? One night, Paul took a quick trip down to his local. He had a few pints, then decided that he’d sit on one of the tables that surrounded the bar. When he did so, he fell, breaking the table and harming himself enough to make a trip to A & E.
The next thing you know, Paul’s solicitor sues the pub owner, claiming that because there were no notices saying that you shouldn’t sit on the table, the owner of the pub is liable for Paul’s medical bills. While this ridiculous story may seem silly to you, this kind of thing happens routinely to business owners, especially pub owners.
As a result, if you’re even thinking about buying a pub, you try to find competitive pub insurance on Quotezone.
Doing Your Research: When you start your journey to purchase your pub, it’s good to do as much research as you possibly can before you sign on any dotted lines. First, you’ll need to know what sort of costs and responsibilities you’ll have, regardless of whether you’re the landlord or the tenant.
Usually a tenancy agreement states that the owners of the pub will make sure that they have insurance that will cover loss of income should, for whatever reason, their license be revoked. This charge often comes down to the tenant as “insurance rent”. It’s very likely that the tenant will also be required to get insurance rent and to have all of the business liability insurance necessary for every business owner to have.
If you plan on renting from the owner of the pub, you’ll likely have to supply the owner with a copy of proof of insurance. Make sure you’re vigilant when you look to find competitive pub insurance on Quotezone. This is because the cheapest policy may not be the right policy for your pub.
It’s also true that your landlord may have specific requirements for your insurance before they’ll agree to rent to you, so ask them what they require before you start shopping for pub insurance.
Watch for Liquor Liability Coverage: There are so many things that can go wrong when you own a pub, especially if your pub becomes popular and is busy regularly. Often pub owners aren’t there every hour of every day to make sure that everyone is safe and that bartenders cut off severely intoxicated individuals. That’s why you need to make sure that when you look to find competitive pub insurance on Quotezone, you look for liquor liability coverage.
This type of coverage can occasionally be packaged with general liability insurance but may not be, which is why you should make sure to read all of the contract. This insurance protects your pub should someone become intoxicated and injure someone else, or themselves.
There are a number of different pub insurance options, and you can find them all, for less, at Quotezone. Begin comparing policy options now.