This article explains why nightclub insurance is needed and what the mandatory and optional elements are, followed by a prompt to seek advice.
As if you didn’t have enough to think about with the day to day running of a nightclub, you are also expected to be able to think about all the other unexpected things that can affect and interrupt your business. Fortunately, these events can be covered by nightclub insurance, and Titan Insurance is able to offer tailored policed that will suit your business.
For many business owners, deciding which risks ought to be covered and which they don’t need to worry about is a difficult task. All too often people find that they’ve been paying inflated premiums that cover everything under the sun, or have missed out the one thing they really needed cover for – either way, it can be a significant cost to the business.
Public Liability and Employers Liability cover are of course required as part of every nightclub insurance policy. You have a duty to take care of both your customers and staff, and between them they are the most likely source of claims against your business. You are also likely to need buildings cover, and within that you have the choice of whether to include fixture and fittings or not. Beyond that what you include is up to you and although it’s not exhaustive the list below gives a few options that you might want to consider.
- TV, video, light & sound equipment – it would be a strange nightclub that didn’t have any of these, and they are both easily damaged and expensive to replace.
- Stock – damage, theft and loss of stock is a daily risk, and this cover can include drinks and food if you wish.
- Business interruption – Many people don’t consider this a risk, but what would happen to your income if your nightclub couldn’t open through no fault of its own?
- Personal accident – your own income may depend on you being able to work, and this covers you in case you can’t. It can be expended to include assault, and many in the entertainment industry feel this is a prudent addition.
- Money – nightclubs are cash rich environments, and the loss of even one night’s takings can be devastating. Protect yourself against this loss with this option, and include cover for money in transit (for example while taking it to the bank) if you wish.
If you aren’t sure which elements of a nightclub insurance policy are appropriate for your business, then you need to talk it through with an expert. Titan Insurance don’t just offer some of the cheapest quotes around, they are able to advise on all aspects of business insurance policies and their access to a large panel of underwriters means they will be able to find a policy that’s exactly right for you.