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Caterer business insurance
Catering insurance NZ
Caterer insurance is a specialized type of business insurance tailored specifically for those in the catering profession. It often includes coverages for property damage, liability issues, and employee-related risks, ensuring your catering business remains resilient even in the face of unforeseen challenges.
Why is catering insurance important?
Caterer insurance is an essential safeguard for those in the food service profession, not just for its financial protective role against unforeseen accidents like kitchen fires or property damages, but also for ensuring legal compliance, especially in regions or venues that mandate it. Moreover, the peace of mind that comes with having adequate coverage allows caterers to focus solely on their business operations.
In New Zealand, the average cost of caterer insurance typically ranges between $150 – $300 per month.
It’s crucial to have caterer coverage if your business:
- Serves alcohol to customers
- Has on-site cooking facilities
- Provides outdoor dining areas
- Rents or owns the building space
What covers are typically included in catering insurance?
Public Liability
This policy covers common caterer business risks including bodily injuries, customer property damage, and advertising injuries. It’s required for most commercial leases.
Best For
- Business Accident Coverage
- Third-party Damages
- Legal Cost Protection
Statutory Liability
This cover is a type of protection that helps caterers cover costs if they accidentally break certain laws or regulations.
Best For
- Unintentional breaches protection
- Legal costs
- Fines and penalties
Business Contents Insurance
Business contents insurance in NZ is for protecting all of the plant and equipment a catering business uses. If there’s a problem or accident, the insurance can help with the expenses.
Best For
- Accidents
- Floods
- Fires
Business Vehicle Insurance
Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.
Best For
- Repair costs
- Third party damages
- Injuries
Employers Liability
This insurance helps protect caterer businesses from financial losses if an employee suffers injuries or illnesses at work.
Best For
- Workplace injuries
- Legal expenses
- Compensation payments
Stock Insurance
Stock insurance in NZ is a type of coverage that helps protect caterers from the loss or damage to the items they sell.
Best For
- Mishaps
- Natural Disasters
- Fires
How much does caterers insurance cost?
Caterer insurance premiums are calculated on several different factors including:
- Types of cover
- Turnover
- Location
- Claims History
Catering insurance in NZ typically costs between $150 to $300 per month
Who needs catering insurance?
If you’re in the food and beverage service industry, particularly if you provide services at various locations or events, you should strongly consider caterer insurance. This includes:
- Independent caterers.
- Large catering firms.
- Food trucks that cater events.
- Chefs offering private dining experiences.
- Businesses that provide food services at events or functions.
While it may not be a blanket legal requirement for all caterers in NZ to have insurance, certain venues or contracts might require you to have specific coverage levels. Additionally, if you employ staff, there might be mandates concerning workers’ compensation insurance.
vYes, a comprehensive caterer insurance plan typically covers claims related to foodborne illnesses. If a client or attendee falls ill due to the food served at an event, the liability portion of your insurance can cover legal fees, medical expenses, and any settlements.
How do I get proof of caterer insurance
You can usually get proof of catering insurance same day when you purchase insurance through Gerrards.
Acquiring a catering insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or lease.
To obtain insurance coverage promptly, contact one of our caterers insurance brokers. We may require you to provide some fundamental details about your business, such as:
- The name of your business
- The total number of employees
- Predicted annual income
- Years of experience in the industry
What does caterers insurance not cover?
Intentional Acts
Insurance won’t cover damages arising from deliberate harmful acts. If there’s evidence of intentional contamination or purposeful harm, your insurance claim might be denied.
Employee Dishonesty
Losses due to deceptive acts by employees. If an employee steals or commits fraud, those actions typically aren’t covered by standard caterer insurance. You need to purchase fidelity/crime insurance separately to cover this.
Natural Wear and Tear
Gradual damage over time isn’t covered. If equipment breaks down due to age or regular use, insurance won’t cover the replacement.
Other common questions about catering insurance
Absolutely! Every catering business is unique. Gerrards and other insurance brokers often offer customized policies to suit the specific requirements and risks associated with your business.
It’s recommended to review your policy annually or whenever there’s a significant change in your business. This ensures that you’re adequately protected as your business grows or evolves.
Yes, some insurers offer short-term or event-specific policies for caterers who don’t operate year-round. Consult with Gerrards to explore your options.
It’s possible. Insurance premiums are based on risk assessment. If you make a claim, insurers might perceive your business as higher risk, leading to increased premiums. However, other factors like safety measures and claims history also play a role.
