Fish and Chip Shop Insurance

As the insurance fever for fast foods is on the rise, fish and chip shop insurance takers are also increasing day by day. A snack of hot and crisp, batter dipped and deep fried chunks of fish or cod served or packed with vinegar and chips is fast catching up as the comforting food in these times of recession. As the business rises, fish and chip shop owners are trying to minimize the risk of losses involved in running these shops. There is no second opinion that a fish and chip shop is a disaster waiting to happen.

The fishes are fried in boiling oil over high heat. The heat that emanates from electrical or flame based stoves and the boiling oil are the best ingredients for fire disaster. The fire that starts from the cooking range can quickly spread to the entire shop and destroy it in a matter of minutes, endangering the lives of the employees and patrons. All this may happen even if steps are being taken to control the raging fire.

Reconstruction and repair costs after a fish and chip shop accident can be a really expensive affair. If that is not enough, theft and vandalism in damaged infrastructure is commonplace. Depending on whether the owner has brought in a fish and chip shop insurance, it can mean survival or annihilation. With this in mind, numerous insurance companies have developed industry-specific packages to deal with the special needs of fish and chip shops.

Various associations like Nationwide Caterers Association have competitive packages in fish and chip shop insurance. Some insurance companies offer a 30% discount on the premium after three years of claim free insurance. National Federation of Fish Friers members can avail discount of 10% on premiums along with discounts on renewal. The premiums for a medium sized fish and chip shop can range from £100 ($166) to £1000 ($1660) depending on the insurance coverage.

Any fish and chip insurance policy will need the cleaning of extraction canopies and ductwork once in a year with the help of independent contractors. Although this may seem like an additional expense, it will be helpful to the owner in the long run as there is less combustion build up so lesser chances of accidents happening. Some insurance companies would also readily provide for free and unlimited hygiene and safety training to the employees of the shop.

The aspects insured under the fish and chip insurance policy coverage are business interruption due to any reason, cash in the shop, good in transit home delivery items as well as stock replenishments, frozen food stored in the shop, bad debts if the owner holds any, employers liability as well as public and product liability. In addition to this the owner can get optional coverage for the building and any legal expenses involved.

The fish and chip shop insurance will differ from the regular shopkeeper’s insurance as it has to specifically cover the deep frying fish range. Oil being a highly flammable substance, fires that break out from this source has to be extinguished carefully to avoid explosions or any other untoward happenings. Hence the policy is built around this potential risk factor. The insurance will also have an overall cover for other equipments, records, furnishing and items inside the shop. It would be wise to check if the policy also covers outdoor signs, windows and store fronts.