The food and drink industry is large and diverse and the risks to insure against are equally wide-ranging. Working in this particular industry, you may face many challenges, from product recalls to damage to your goods in transit.
To face those challenges, make sure you have comprehensive food and drink insurance as your safety net, so even if the worst happens, it will not mean the end for your business.
What does food and drink industry insurance include?
As standard, you should make sure your food and drink industry insurance package includes:
1. Employer’s liability insurance
All food and drink businesses who employ staff are legally required to have employer liability cover as part of their insurance. The food industry includes many different environments which pose some risk to employees – from kitchens to factories, restaurants and offices.
If an employee was to injure themselves or become ill while working for you they could then seek compensation and employer’s liability will give you the peace of mind that the compensation amount will be paid by your insurance policy.
2. Public liability insurance
If a waitress spilt a drink over a customer’s expensive laptop or a supplier slipped up on a wet floor behind the bar of a pub while delivering stock, you would be liable as the owner of the business. Public liability insurance will cover the costs of compensation for injury and any legal costs that you face.
3. Product liability insurance
Product liability cover is absolutely vital for those supplying food and drink to consumers. You have to deliver food and drink through a secure supply chain while maintaining public safety through environmentally friendly processes. No matter how diligent you are, sometimes a mistake can be made. If this mistake causes illness or injury, you will be liable as the producer and your product liability will cover the costs.
4. Office insurance
Depending on what you do within the food and drink industry, there will be differing insurance needs for your office contents. Most businesses in the industry will have an office with furniture and computer systems and these items can be insured against fire or flood damage, as well as theft.
5. Business contents insurance
Business contents insurance is an important addition to your food and drink industry coverage package as it will cover the loss, theft or damage of your food and drink production appliances, equipment and business furniture. It might also include cover for personal items belonging to your employees or visitors.