Ways To Get Cheaper Restaurant Insurance Quotes

Everyone wants to reduce the cost of their insurance.  Whether you’re looking for a cafe, wine bar or restaurant insurance quote, finding the most competitive premium can often help you save hundreds of pounds.

If you’re looking for the very best value restaurant insurance quote, keep reading for three tips to help you find a cheaper premium.

1. Consider a higher excess

Most insurance policies have a ‘voluntary excess’.  Your voluntary excess is the amount of any claim that you choose to pay yourself.  For example, if you wanted to make restaurant insurance claim for £750 and your voluntary excess was £250, the insurer would typically pay £500 of your claim.

Most cafe and restaurant insurance policies have a fixed excess.  However, many will also allow you to choose a higher ‘voluntary’ excess.  By offering to pay more in the event you make a claim, you will generally be able to obtain a lower restaurant insurance quote.

Do remember that while a higher excess may mean you may benefit from lower restaurant insurance premiums, you will pay more in the event that you make a claim.

2. Shop around

Arguably the best way to save money on your restaurant insurance is to shop around before buying your cover.  And, if your sandwich bar or cafe insurance is coming up for renewal it’s wise to obtain several restaurant insurance quotes.  This means you can compare them to the premium being quoted by your existing insurer.

While shopping around for quotes may seem like an obvious piece of advice, many people still renew their cover without comparing prices.  Research in winter 2010 published in the Daily Telegraph found that 45 per cent of policyholders didn’t shop around before buying insurance.

Additionally, the average insurance customer will accept a rise of 8 per cent in their annual premiums before they decide to switch to a more competitive deal.

Heading online is a great way to save time and money when looking for a restaurant insurance quote.  Comparison websites allow you to complete one form with your details and insurance requirements.  This information is then sent to a number of restaurant insurance specialists who come back to you directly with a quote.

If you’re one of the 45 per cent of Brits who don’t shop around, you could end up paying too much for your restaurant insurance.  As Kieran Hartigan from Virgin Money, says: “Searching for insurance renewal quotes can be a bit of a chore but a massive £1.5 billion each year could be saved.”

 

Article produced by www.restaurantinsurances.co.uk/