Insurance for Food Retail

Each food retail is different, with unique insurance needs. That said, here are a couple of commonly purchased business insurance policies you may consider: 

• Public Liability insurance: Slips and falls are just one of the possible accidents that could happen in your retail food business. Public Liability insurance helps you handle third party injuries and property damage claims.
• Management Liability insurance: which covers claims of wrongful acts in the management of the insured business and can include directors’ and officers’ liability, employment practices liability, crime, statutory liability and tax audit.
• Tax Audit insurance covers accountants’ fees incurred in connection with an audit by the Australian Taxation Office.  
• Cyber Liability insurance, which covers losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach.

A Business Insurance package can be tailored for your unique retail business to include: 

• Building Insurance: If you own the building your shop runs out of, this cover can help you rebuild or restore it after water damage caused by burst pipes, a fire, or other covered events.
• Contents Insurance: This cover can help you replace damaged or lost stock, furnishings, business records and more after events listed in the policy wording.
• Glass Cover: Covers you for damage to internal and external glass, mirrors, porcelain and signage at your business premises.
• Theft Cover: Covers you against loss of contents and stock as well as damage to your business premises, as a result of theft or attempted theft involving forcible or violent entry from your business premises.
• Machinery breakdown: This cover can help repair or replace your machinery after an unexpected failure.
• Business interruption: This cover can help you recover after unplanned interruptions to business as usual, like a major power outage.