When you start up in business you will need insurance cover. Contact an insurer and explain exactly how your business will operate. They will then be able to recommend what cover you should have. This might include:
- employer's liability
- public liability
- indemnity cover in the event that you fail to fulfil a contract
- product liability and indemnity (this should cover food poisoning and other problems such as foreign objects found in foodstuffs)
- premises, premises contents and stock
- goods in transit (being collected or delivered)
- business interruption
- motor insurance
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.
It is worth noting that some trade associations offer their members special insurance policies, which might save you money and provide the level of cover you need. The Nationwide Caterers Association (NCASS), for example, offers business insurance policies designed specifically for outside caterers. You can find out more on the NCASS website.