As the insurance fever for fast foods is on the rise, fish and chip shop insurance takers are also increasing day by day. A snack of hot and crisp, batter dipped and deep fried chunks of fish or cod served or packed with vinegar and chips is fast catching up as the comforting food in these times of recession. As the business rises, fish and chip shop owners are trying to minimize the risk of losses involved in running these shops. There is no second opinion that a fish and chip shop is a disaster waiting to happen.
Fire insurance is very important for shops selling fish and chips, because of the way their food is cooked. Frying at extremely high temperatures in large deep-fat cookers, demands skilled staff, constant attention to all safety issues and sufficient coverage, should the unthinkable occur, and the owner is faced with high bills for fire, injury and replacing lost equipment. Some insurance companies will offer to help train staff where they may not be up to date with the latest safety rules and regulations.
Looking for insurance in this situation it defiantly pays to seek out a specialist in the market, companies like the Nationwide Caterers Association, who are very familiar with the your kind of business. Companies offer discounts for membership of professional associations, the National Federation of Fish Friers, for example. Other reductions in the amount you pay for coverage come when its time to renew a policy, if you have 3 years with no claims, up to 30% may be cut from your premium.
Various associations like Nationwide Caterers Association have competitive packages in fish and chip shop insurance. Some insurance companies offer a 30% discount on the premium after three years of claim free insurance. National Federation of Fish Friers members can avail discount of 10% on premiums along with discounts on renewal. The premiums for a medium sized fish and chip shop can range from 100 ($166) to 1000 ($1660) depending on the insurance coverage.
A good safety record pays in terms of much lower premiums when it is time to renew a policy. Discounts of 30% are common after 3 years of claim free insurance. Premiums, the amount it costs for an insurance policy to cover your shop, vary with which type of cover is needed, an average sized store would cost as little as 100 ($166) to 1000 ($100). Some insurance companies offer a 30% discount on the premium after three years of claim free insurance. National Federation of Fish Friers members can avail discount of 10% on premiums along with discounts on renewal. The premiums for a medium sized fish and chip shop can range from 100 ($166) to 1000 ($1660) depending on the insurance coverage.
Since the costs of re-building and re-stocking a fish and chip shop can be extremely high, insurance is an absolute necessity to conducting business, and should be reviewed and increased on a regular basis to keep up with current prices. Separate policies can be added to cover all the usual items needed in any business, such as computers, safes, stocks and time lost due to closure after a fire or any other accident.
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