Hospitality is a busy and dynamic sector that is central to Ireland’s tourist industry and economy. 

The hospitality industry encompasses a diverse range of businesses from large five star hotels, smaller guesthouses and B&Bs, restaurants, pubs and bars, nightclubs, cafes, and newer food truck offerings.

Hospitality insurance therefore, must offer protection for a huge range of risks which can vary according to the size and nature of your business. 

Hospitality insurance is a form of business insurance which offers specific cover for the risks involved in running a hospitality business and which is tailored to your individual needs.

Insurance for the Hospitality Industry

What is hospitality insurance?

Hospitality insurance is insurance which offers your business protection against the myriad risks and events which can befall a hospitality business.

The risks associated with running any hospitality business can be challenging and the risks associated with different hospitality businesses can be diverse and vary according to your specific hospitality offering.

All hospitality businesses face multiple perils such as building damage due to storms or flooding, the risk of fire, food safety issues, or a customer accident such as a slip or fall, especially where alcohol is added to the mix.

An unforeseen event can have significant consequences for your business both in terms of financial consequences and reputation so it is really important to have adequate insurance cover in place in order to minimise the financial and other disruption caused by an insured event.

Hospitality businesses that require insurance

Each hospitality business is unique and reflects the inspiration, flair, and also the hard work and dedication of its owners and employees.

Insurance cover that is tailored and appropriate to your business will allow you to focus on managing your business and delivering the best possible experiences to your customers.

Hospitality insurance in different forms is available such as:

  • Hotel insurance
  • Guesthouse insurance and B&B insurance
  • Pub insurance
  • Nightclub insurance
  • Restaurant insurance
  • Cafe insurance
  • Takeaway insurance
  • Food Truck insurance
  • Catering business insurance
  • Mobile coffee business insurance
Hospitality businesses that require insurance

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Types of hospitality insurance

Hospitality insurance is a form of business insurance or commercial combined insurance which is essential to running any hospitality business.

Typically, hospitality insurance is customised to the nature, size, footfall, and risks unique to your business, and its premises.

Hospitality insurance can comprise some or all of the following types of business insurance cover:

Types of hospitality insurance

Property damage

The type of property damage cover that your business requires varies, depending on many factors. 

Buildings cover offers protection where you own your premises and there is damage to the structure of the building from fire, floods, storm, theft or vandalism, escape of water etc.

Contents cover provides protection for the things in the building that are not a permanent part of the structure. This varies depending on the business but might include any fixtures or fittings you have installed in the premises (even if you are a tenant). It would also include equipment such as kitchen equipment and stock (such as bar stock or frozen food), for example.

Damage to your premises from customers or guests may also be covered by either buildings or contents cover, depending on the nature of the damage.

Business interruption cover

Business interruption cover, or consequential loss cover, offers protection where an insured peril causes your business to cease trading for a time. 

This type of cover will ‘get you back on your feet’ and will cover business expenses or the increased costs of operating from temporary premises while you are unable to generate income.

Money cover

Money cover offers a variety of types of protection for cash held by your business. This can include cover for cash held either on or off the premises or in transit.

Employers liability

Employers liability offers you essential protection should one of your employees be injured or have their property in the course of their employment at your hospitality business.

Your employees health and safety is your responsibility as an employer and employers liability insurance protects you in the event that you are found liable for a claim by an employee.

Public liability

Public liability cover offers you protection should a member of the public, or a customer, be injured or have their property damaged while on your premises.

Public liability will protect your business in the event of a claim and is an essential form of cover especially in hospitality businesses which can have high footfall and be subject to personal injury claims.

Product liability

If you make, sell, or supply products then you will need products liability cover. Product liability insurance offers your business protection in the event that a product made, sold, or supplied by your company causes illness, injury, or property damage to another person.

Product liability insurance will protect your business in the event of a third party claim for compensation.

Product recall

Product recall insurance is an aspect of hospitality insurance mostly relevant to food and drinks businesses.

Product recall insurance protects your business where there is an incident involving a product recall due to safety concerns. It will offer cover for the costs associated with the recall, as well as the reputational damage as a result of the recall.

Fidelity guarantee

Fidelity guarantee protects your business in the event of dishonesty or fraudulent practices by an employee.

Fidelity guarantee insurance may cover the loss of money or property due to the actions of an employee of your business.

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Personal accident cover for staff

Hospitality insurance may include personal accident cover for staff who are injured and unable to work. The employee will receive a cash benefit where they are injured.

If you are a sole trader, or your business relies largely on your work or input, then personal accident insurance may be a valuable protection if an accident led to you being unable to work.

Loss of licence

Cover offers financial protection in the event that your liquor licence is suspended or withdrawn. 

This aspect of hospitality insurance will cover your business for the financial consequences of loss of licence.

Equipment and machinery

Equipment and machinery or engineering insurance may be required by your business to cover the costs of statutory inspection and repair to your equipment.

Equipment such as lifts, air conditioning, boilers, fire safety equipment, generators and kitchen equipment may be required for your business, depending on its nature.

Cyber insurance

Many businesses hold customer data and may be the subject of a cyber attack or data breach.

Cyber insurance offers protection for the financial and reputational consequences of such an event for your business.

Guest effects

This is a specific form of public liability insurance which may be relevant to hotels, guesthouses, and B&Bs.

Guest effects insurance cover offers protection for the loss or damage of guests personal possessions while on your premises.

Commercial vehicle insurance

Vehicle insurance for a car, van, jeep, truck or catering van, mobile coffee vehicle, or food truck may be required by your business.

Motor insurance is a legal requirement to drive on Irish roads and your business will require any vehicle to be insured. Food truck, catering truck, and mobile coffee businesses must also ensure that their trailers and their contents are covered by commercial vehicle or motor insurance.

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How much is insurance for the hospitality industry?

As hospitality businesses are so diverse there is no ‘one size fits all’ insurance product that covers the risk to every business. 

Hospitality insurance will comprise several types of cover in a combined package, with the price being determined by a number of factors.

Hospitality insurance premiums will depend on the following factors:

The risks that your business is exposed to will vary according to the nature of your business. A large hotel with a bar and restaurant will require significantly different cover, possibly consisting of all of the forms of insurance above, to a small cafe, mobile coffee business, or food truck which would require relatively lower levels of cover.

The interaction with the public or footfall is also a factor, as would be whether you make or supply any products to the public. Risks of fire, or slips, trips, and falls will vary for example depending on your business and also any safety measures in place.

Your annual turnover, as well as the number of staff employed will affect the premium you pay for hospitality insurance.

If you require business interruption cover, then your annual turnover will be required by your insurer.

Whether or not you own your premises, its location, its security, as well as your contents and levels of stock, will all have a bearing on how much you pay for hospitality insurance.

Commercial buildings insurance, if you own your premises, will offer protection in the event of fire, storm, lightning, flooding, subsidence, escape of water, or theft and malicious damage.

Business contents cover is required, even if you are a tenant of your commercial premises, to cover fixtures and fittings, decor, trade contents and glass cover.

Having high levels of high-value stock, such as in a bar or specialised equipment, such as kitchen equipment, will all affect how much you pay for hospitality insurance.

If you have made previous claims on your hospitality insurance or any business insurance, you will pay a higher premium in the future for hospitality insurance. 

If you have previous claims, you may need the assistance of an insurance specialist to find affordable hospitality insurance cover.

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Who offers insurance to the hospitality industry?

There are a number of providers of insurance to the hospitality industry in Ireland:

Zurich - Home Insurance
Allianz - Home Insurance
AXA - Home Insurance
AIG - Home Insurance
Aviva - Home Insurance

Offer specific food and beverage insurance.

FBD - Home Insurance

Offer specific restaurant, cafe, and takeaway insurance and pub insurance.

Specialist underwriters:
Frost Insurances

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Contact us today or fill out our online assessment and our expert and experienced insurance advisors can discuss your insurance needs with you to find you a competitive, tailored quote for hospitality insurance.

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