Top Tips to SAVE on your Fast food Takeaway Insurance
In today’s competitive market we are always looking for ways to reduce overheads and bring our cost base down. Insurance is an obvious area to review and if you run a fast food outlet or takeaway, our top tips could help you do just that!
1: Compare Quotes
It’s now much easier to compare business insurance prices, if you’ve been with your current insurer for more than 3 years without reviewing your policy, it’s time to set aside 30 minutes to see if you can improve your cover and save money on your takeaway insurance. If you use a digital provider such asInsyncthey can compare prices from leading business insurers online or by phone, in minutes, saving you time as well as money.
TOP TIP: Remember, price isn’t everything and sometimes that cheap quote might be just that! Hidden excesses or reduced cover can be a false economy, make sure you’re comparing apples with apples and don’t be afraid to ask your insurance advisor for advice – after all, that’s what they’re there for!!
2: Get a full business insurance review
The world can move at a rapid pace and there is a strong chance that your business is very different now to how it looked 24 or even 12 months ago. Your number of employees, turnover and stock levels may have changed significantly, all of which can impact your annual premium. Set up a review with a specialist in insurance for fast food restaurants or takeaway insurance who can advise you on core requirements and where you might be able to make savings.
3: Review your own business activities
Hopefully your review will have started to build a picture of where insurance cost is generated. If you are running pizza deliveries via motorcycle for example, how much additional revenue is being gained from delivery sales? What is your return of investment for deliveries? If your cost is exceeding revenue, then you might choose to review viability or change your processes.
4: Risk Management & Security
Improving the physical security of your premises by installing an alarm, shutters or a fire system can significantly reduce the risk of an insurance claim. If you already have security or fire protections in place, make sure that your insurer is aware and that you are receiving the appropriate discount. If you don’t have protection currently, find out what level of premium saving would be available and whether your insurer has access to any discounts. You might find that a system will pay for itself over a short period of time as well as providing additional peace of mind.
5: Pay upfront for your Insurance policy
Many insurers will impose a charge of 10% or more for paying your premium by monthly instalments, make sure you check your paperwork closely to find out the true annual cost. If possible try to pay up-front by credit or debit card to avoid costly credit charges.
FREE Insurance Review
Insync Insurance will provide a free consultation review of your Fast-food Takeaway Insurance and all of your business requirements. Get a Quote online, or book a review at a time that suits your diary, alternatively call 0330 1240730 for more information.
About the Author
I’m passionate about family, sport, technology and business.
In fact, I have always been fascinated by business, whether it was running the school tuck-shop or my Saturday job in the local store, I was always looking for ways to improve or view things differently.
I have enjoyed an amazing career fast approaching 25 years in the insurance industry, which has given me real insight into the challenges and opportunities faced by SME businesses in today’s ever-evolving marketplace.
I co-founded Insync Insurance, to offer companies a new way to buy and manage their business insurance. A synergy of digital servicing and personal expertise - utilising the latest technology to enhance relationships, not to replace them.