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Insurance for cafes, coffee shops and restaurants

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As the hospitality sector reopens for outdoor service followed shortly by indoor dining, I will outline the various covers and items to consider for cafes, coffee shops and restaurants.

Most insurers will apply different rates to each trade and usually will define based upon number of covers, type of food served, hours of trade and deep fat fryer usage.

Material damage cover for Buildings, fixtures and fittings, stock, computers, and other assets that your business owns. Covers will include fire, flood, escape of water, theft, and storm among other perils. Cover extensions are available such as fire brigade charges, signage and goods in transit.

Money cover. This is a standard section of all hospitality policies. It is likely we will see a culture change post pandemic due to reduced cash usage but the extent of this change is not yet known. For now hospitality policies will cover the loss of cash & cheques. The amount of cash covered can be increased depending on safe and security details. Personal assault cover can be included when carrying cash to the bank.

Employers, Public and Products liability. All hospitality insurances include liability cover. Employer’s liability is covered up to a maximum of €13 Million and depending on the business description can be based on employee numbers and/or wages. Public liability can be selected within a range of €1.3 million to €6.5 million and covers your legal liability in the event that you are negligent and required to pay compensation for bodily injuries or damage to third party property. Your trade & projected turnover will determine the rate charged. Products liability provides cover if someone is injured by a product that you have sold.

Business interruption covers consequential loss of gross profits following an insured event such as a fire. It is important to review your gross profits sum insured on an annual basis.

Other covers that can be added include seasonal increases in stock at specified times during the year, loss of licence cover, glass breakage, Cyber insurance, personal accident and many more.

It is crucial to review your policy annually checking the deep fat frying conditions, the cleaning of kitchen ducting conditions and fire protection conditions. Your policy should be tailored to your individual needs, so it pays to get expert advice from professionals who take the time to understand your business.

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What to look out for when viewing second hand homes

By Ted Healy of DNG TED HEALY After spending so long saving for a mortgage and filling in countless application forms, you are now ready to begin your house hunting in earnest. Set yourself a budget and have a look to see what is available in your desired locations within that budget. Viewing appointments can […]

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By Ted Healy of DNG TED HEALY

After spending so long saving for a mortgage and filling in countless application forms, you are now ready to begin your house hunting in earnest.

Set yourself a budget and have a look to see what is available in your desired locations within that budget.
Viewing appointments can be arranged via a telephone call or a simple email to the selling agent. When making the appointment make it clear that the mortgage is in place and you are ‘ready to go’.

This week we will deal with viewing second hand homes and what to look out for on that first property viewing.

When you arrive at a house, you’ll get a general feel outside of how well it’s been maintained. Arrive early and study the exterior of the property before going in, and have a glance at neighbouring properties. This will help you to get your bearings before continuing with the viewing.

If viewing an older house, a musty smell is the first red flag for signs of damp. Also be wary of the smell of fresh paint; was this done to simply freshen the property up or what is it covering up? Is paintwork bubbling or flaking?

Take note of any wall cracking; hairline cracks in walls and ceilings are generally fine, but if you can spot a crack from the other side of the room, then it’s probably big enough to be concerned about.

In older houses, take a good look at windows and roofs. Window frames can slope downward if there are poor ground conditions underneath, and the roof of the house can sag in too.

Is there room to extend? If you are lucky enough that there is have a look for external manhole covers; it gives a good indication of the drainage and pipe layout which may complicate a future extension.

Don’t be afraid to ask the nosy questions; why is the house for sale? How long has it been on the market? How long have the current owners resided there? Has the house been rented out frequently? How many times has it changed hands in the last decade? Have there been any refurbishments? Has it been rewired/replumbed? Who are the neighbours? What is included in the selling price?

It is a good idea to take photos (with the agents consent) or videos as this will help you remember the property after you have returned home.

And finally, don’t be afraid to ask for more time. Spend as much time as you think you need to and don’t hesitate to request a second viewing.

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What kind of insurance cover do offices need?

By John Healy of Healy Insurances As the COVID restrictions are eased and workers return to offices what kind of insurance cover do offices need? A broad outline of covers would include: Material damage cover for buildings: fixtures and fittings, stock, computers and equipment, and other assets that your business owns. Covers will include fire, […]

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By John Healy of Healy Insurances

As the COVID restrictions are eased and workers return to offices what kind of insurance cover do offices need?

A broad outline of covers would include:

Material damage cover for buildings: fixtures and fittings, stock, computers and equipment, and other assets that your business owns. Covers will include fire, flood, escape of water, theft, and storm amongst other perils. Cover extensions are available such as fire brigade charges, signage and equipment in transit.

Money cover: Loss of money cover is usually standard up to €5,000 for cash and cheques. The amount of cash covered can be increased depending on safe and security details. Personal assault cover can be included when carrying cash to the bank.

Employers, Public and Products Liability: All office and surgery policies include liability cover. Employer’s Liability is covered up to €13 million and can be rated on employee numbers and/or wages. Worldwide cover can be arranged for employees working temporarily overseas.

Public liability: covers your legal liability in the event that you are negligent and required to pay compensation for bodily injuries or damage to third party property. Projected turnover will determine the rate charged. Products liability provides cover if a third party is injured by a product that you have sold.

Business interruption: covers consequential loss of gross profits following an insured event such as a fire. It is important to review your gross profits sum insured on an annual basis. Some office policies are written on a gross annual fees basis rather than gross profit so it is vital to get the correct advice.

Other covers available can include computer breakdown, cyber insurance, employer’s liability extension for a locum medical practitioner, personal accident, commercial legal protection, Revenue Commissioners investigations and many more. Many businesses will require professional indemnity in addition to an office policy.

A robust risk management structure can achieve more attractive rates and should include annual health and safety statement reviews, fire safety procedures, CCTV usage, and risk assessments.

Your policy should be tailored to your individual needs, so it pays to get expert advice from professionals who take the time to understand your business.

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