Buying fish and chip shop insurance is not like buying standard retail coverage. You need to buy insurance specially tailored to the fish and chip market. Since most retailers are dollar conscious, they may offer bundled policies, which group several different types of coverage together, making rates more competitive. Join professional organizations like the Nationwide Caterers Association, and the National Federation of Fish Friers, which offer discounted business insurance, specific to the industry.
Fish and chip shop insurance also requires preventative measures such as cleaning canopies and ductwork, that prevent fuel combustion build up. The cost to pay someone to do this may strain the owner's pocketbook, but it's worth the peace of mind, that comes from knowing you did what you could to prevent a fire.
Coverage for loss to the building and its contents ranks at the top of the list for fish and chip shop insurance. Since you're working with a deep fat fryer and hot grease, fire is always a concern. Grease fires can easily spread throughout the building, and business records, as well as costly equipment could be destroyed. If your records are destroyed, you may have accounts payable, and not know how to collect your money.
If your building is damaged and left unprotected, theft and vandalism could result. It may be someone defacing the building, or the theft of some important equipment. In these hard economic times, delicious fish may be carried home by employees, so make sure theft and vandalism coverage is included in your fish and chip shop insurance.
Suppose a customer walks into your establishment, and takes a fall, or becomes sick from eating the food? This is where public liability insurance comes in. Having good liability insurance may make the difference in whether your business survives, if someone files suit. Coverage for legal expenses is optional on some policies, and if the rates are not too high, you should take advantage of it.