Insurance with an appetite for growth
Running your own hospitality business requires passion and hard work. From early openings to late nights, building a customer base takes time and effort.
Protecting your hard work and assets is essential.
From property damage to liability claims, unforeseen events can threaten the success and reputation of your business. That’s why having the right insurance advice is crucial for safeguarding your business and investment against potential risks and uncertainties.
We understand that every business is unique and we will take the time to build an insurance program that protects your business.
Key Risks for Hospitality Businesses
Property and Equipment
Whether you own or lease your location, most hospitality cannot operate if their location is out of action.
Insurance protection for your property, plant and equipment is critical to the ongoing success of your business.
If you rent your location, you should also check your lease and confirm if you are responsible for insuring Glass.
Public and Product Liability
Under Australian Law, it is your responsibility to make sure that your products are safe and fit for purpose.
If your products cause injury or property damage to a third party, you may be responsible for this.
Public and Product Liability Insurance covers your legal liability to third parties for product damage and bodily injury caused by your business. The policy can also cover legal fees you incur to defend yourself.
Business Interruption
Could your retail business survive with revenue for 3 months?
As they say, “Cash is King”
Business Interruption Insurance covers your fixed costs and profit in the event of insurable damage to your business location.
Calculating your Insurable Gross Profit is complex, and we have the experience to assist with this.
How Tempo Insurance can help
Tempo Insurance Group is a specialist insurance broker for food manufacturers. We have experience as the insurance broker for:
Cafés and restaurants
Hotels and resorts
Pubs and clubs
Caravan parks
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We understand that every business is unique and we will take the time to build an insurance program that protects your business.
Contact us for a quote or more information
Frequently Asked Questions about Hospitality Insurance
Do I need Public Liability Insurance?
Australia is one of the most litigious countries in the world. Under Australian Law, it is your responsibility to make sure that your products are safe and fit for purpose.
Public and Product Liability Insurance covers your legal liability to third parties for product damage and bodily injury caused by your business. The policy can also cover legal fees you incur to defend yourself.
For example, if a customer slips over in your shop, they may take legal action and hold you responsible for their injury. Public Liability would protect you from this claim.
What is machinery breakdown insurance?
Machinery breakdown insurance coverer the cost of repairing or replacing equipment because of unforeseen breakdown or failure. The policy does not cover general wear and tear.
Do I need Glass Insurance?
Under most business property policies, glass is an additional option.
Many hospitality businesses are located on a High Street with a glass shop front. Most commercial property leases require the tenant to insure glass.
If you lease your location, you should check the lease to confirm if you are responsible for insuring glass.
