When you start up in business you will need insurance cover. Contact an insurer and explain to him or her exactly how your business will operate - they will then recommend what cover you should have and give you an idea of cost. This might include:
- premises, premises contents and stock. This is particularly important as you will have a number of expensive computers in your premises
- goods in transit (for example on the way back from a cash and carry)
- refrigerator/freezer breakdown
- business interruption
- loss of your alcohol licence
- employers liability
- public and products liability
- visitors' belongings
- failure of gas, water or electricity
- motor insurance
Specially tailored restaurant packages are available providing comprehensive cover which may be appropriate depending on how your business will operate.
Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.