Insurance for retail and hospitality
Shops, cafes, restaurants, bars and venues trade on foot traffic, stock and a fit-out that took years to pay for. One fire, one flood or one slip on a wet floor can close the doors for months.
The fit-out, the trading and the customers
Property Insurance
Buildings where you own them, fit-out, stock, contents and glass, with the sum insured set to what it would cost to replace it all today.
Property coverBusiness Interruption
The gross profit, rent and wages you would lose while the premises are closed after an insured event, for an indemnity period long enough to rebuild and reopen.
Business Interruption coverPublic & Products Liability
Injury to customers and damage to their property on your premises, and claims arising from the food, drink and goods you sell.
Liability coverThe sum insured was right on the day it was set
Retail and hospitality values move with the season, the lease and the last refit.
Underinsured stock
Stock values move with the season. A sum insured set in a quiet month leaves the Christmas stock uninsured, and average clauses reduce every claim in proportion.
Indemnity period
Twelve months sounds like plenty until council approvals, a landlord and a builder are all involved. Reopening after a major loss usually takes longer than the policy allows.
Lease obligations
Leases pass on responsibility for glass, landlord's fixtures and public liability limits. Cover placed without reading the lease leaves gaps the landlord will expect you to fill.
A fire next door that closed the doors for four months
An illustrative example of how Ardent can make the difference in a time of need.
A fire in an adjoining tenancy left a venue with smoke damage and no power. The venue itself barely burnt, and it could not trade.
The business interruption section had an indemnity period long enough for a strata rebuild and included prevention of access. We had the claim lodged under both sections in the same week.
The fit-out repairs and the lost trade over the closure were both covered, including wages for the staff the venue wanted to keep.
Responds under Business Interruption
This is an illustrative example. Every claim is assessed by the insurer on its own facts and under the terms of the policy.
What insurers expect to see
Property and liability policies for venues carry conditions on cooking, security and licensing. We go through them with you each year so the policy describes the business you run now.
- Stock declared at its peak seasonal value, or on a declaration basis
- Fit-out and contents valued at current replacement cost, including the equipment you lease
- An indemnity period that allows for approvals, rebuilding and the time to win customers back
- Liability limits that meet the lease and any shopping centre or landlord requirement
- Liquor licence, outdoor seating and events noted in the declared activities
- Cyber cover where you take card payments or hold customer data
Our Retail & Hospitality experts
QPIB · Dip. Fin. Serv. (Ins Broking) · ANZIIF (Snr Assoc) CIP
The jewellery trade, childcare and commercial risks
Sarah co-founded Ardent and has more than 30 years in insurance in the UK and Australia, across commercial, property and casualty, professional risks and claims, with a focus on the jewellery trade and childcare. She works with each client to solve problems, plan ahead and see a claim through smoothly.
Mid-market businesses and jewellers
Sophie has almost 10 years in insurance broking and is studying for her diploma in insurance broking. She looks after mid-market clients across a range of industries, with a long-standing focus on jewellers. She gets to know each business, its risk profile and its appetite for risk before advising, and keeps in touch through the year.
Cyber, property, motor fleet and technology
Kye has two and a half years in insurance broking, after working in retail management, and is studying for his diploma in insurance broking. He looks after a general book of clients, with a focus on cyber, property, motor fleet and technology. Clients find him thorough, efficient and understanding.
What a client says about Ardent
Sophie was a great help in setting up a new insurance policy for my small business. Friendly, efficient and very helpful in explaining all the finer details to ensure all went smoothly! Highly recommended - Thank you!