public liability insurance

6889joannew

HI guys,
im looking for a company that is reasonably priced to get public liability insurance from.
Im just starting up a pub, so this is why i need it any help would be much appreciated
Many thanks joanne :beer:

mattymoo

Plenty of firms do schemes and cover for pubs, its bread and butter work.
Normally it would be sold as a package policy with employers liability, buildings cover, contents and refrigerated food stock cover. Quite unusual to buy pub PL cover in isolation.

anniecave

have you looked up insurance broker in your local telephone directory? they'd be a start....

6889joannew

anniecave wrote: »

have you looked up insurance broker in your local telephone directory? they'd be a start....

:rotfl:
Yes i have looked at the telephone directory but as with many insurers they take liberties and ask over the odds on quotes.
This forum is for asking questions i needed help so i asked!

Oscar_The_Grouch

Hi there

Firstly, good luck in your new venture. I hope it all goes well for you.

Secondly, let's get down to business.

I'm not an insurance broker and I am not going to try to sell you anything - I don't work on that side of the business and wouldn't know where to start! What I am going to do is give you the run down of what I would do if I were in your position; it's not advice: it's my view.

1. Oh hell - what have I got myself in to?
Sit down and make sure you know what you are doing. Make sure you know the value of your assets and the level of gross profit you expect to earn.

2. One plus one equals five
You should have an accountant. My sister is an accountant and I am pretty sure she can add up properly, but I wouldn't stake my life on it! The thing that most accountants have is, however, friends that work in other financial sectors such as insurance. Don't be affraid to ask your accountant for any contacts they may have - they may not be the cheapest or the best, but you are paying your accountant so get them to work for you!

3. Broker is not a bad thing
Ok. Let's get something straight here; Insurance falls under the same regulator as the banks and building societies, but Insurers and Brokers are doing very well at the moment. They have not been affected by the downturn, other than the loss of investment income that any company or individual would have suffered (just with more money). Insurnace brokers are paid by insurers (commission) to give you advice - take advantage of it!!

4. How much money do you earn?
As a commercial customer, you are entitled to ask your broker for details of their commission. If they won't tell you, don't trust them and go elsewhere.

5. Best price
Erm... No.
I don't advocate going for the best price. How much is a keg of beer? Would you save £10 by getting a keg of the back of a lorry regardless of how crap the beer was? Of course not. So why do you expext your insurance broker to give you the best price they have despite the fact that they may know the claims service from that particular company is crap? Crap beer will cost you a couple of customers. Crap insurance will cost you your business.

6. Local is best
Speak to your darts/pool team. Chances are that at least one of them works in insurance; I was captain of my local (at that time) darts team for 3 years.

7. Barter
Put a sign up in your window; "Free pint for the best insurance quote!". Anyone local who works in insurance will pop in and speak to you, saving you the trouble of looking them up. That's got to be worth a beer!!

Final point - going back to what was mentioned in a previous post - Why PL only? Even as a tenant you should be looking to cover other risks too.

All the best

6889joannew

Oscar_The_Grouch wrote: »

Hi there

Firstly, good luck in your new venture. I hope it all goes well for you.

Secondly, let's get down to business.

I'm not an insurance broker and I am not going to try to sell you anything - I don't work on that side of the business and wouldn't know where to start! What I am going to do is give you the run down of what I would do if I were in your position; it's not advice: it's my view.

1. Oh hell - what have I got myself in to?
Sit down and make sure you know what you are doing. Make sure you know the value of your assets and the level of gross profit you expect to earn.

2. One plus one equals five
You should have an accountant. My sister is an accountant and I am pretty sure she can add up properly, but I wouldn't stake my life on it! The thing that most accountants have is, however, friends that work in other financial sectors such as insurance. Don't be affraid to ask your accountant for any contacts they may have - they may not be the cheapest or the best, but you are paying your accountant so get them to work for you!

3. Broker is not a bad thing
Ok. Let's get something straight here; Insurance falls under the same regulator as the banks and building societies, but Insurers and Brokers are doing very well at the moment. They have not been affected by the downturn, other than the loss of investment income that any company or individual would have suffered (just with more money). Insurnace brokers are paid by insurers (commission) to give you advice - take advantage of it!!

4. How much money do you earn?
As a commercial customer, you are entitled to ask your broker for details of their commission. If they won't tell you, don't trust them and go elsewhere.

5. Best price
Erm... No.
I don't advocate going for the best price. How much is a keg of beer? Would you save £10 by getting a keg of the back of a lorry regardless of how crap the beer was? Of course not. So why do you expext your insurance broker to give you the best price they have despite the fact that they may know the claims service from that particular company is crap? Crap beer will cost you a couple of customers. Crap insurance will cost you your business.

6. Local is best
Speak to your darts/pool team. Chances are that at least one of them works in insurance; I was captain of my local (at that time) darts team for 3 years.

7. Barter
Put a sign up in your window; "Free pint for the best insurance quote!". Anyone local who works in insurance will pop in and speak to you, saving you the trouble of looking them up. That's got to be worth a beer!!

Final point - going back to what was mentioned in a previous post - Why PL only? Even as a tenant you should be looking to cover other risks too.

All the best

Thanks so much for all your advice i would much appreciate it.
I do know all the ins and outs etc but this is the one and only last thing i forgot about.lol
But thanks so much i will take all your advice
egards joanne