How to reduce the cost of Nightclubinsurance

In these difficult times, every nightclub owner (and for that matter every business owner) is looking to reduce overheads and one of the 
first areas that come under the spotlight is insurance.
In our experience, we have seen that nightclub owners are quite savvy anyway but I’ll give you 5 tips that you may, or may not have, 
Tip 1. The obvious one is to shop around as there are now more insurers writing nightclub insurance. However, whoever you choose to go with make sure they have been doing this for a while and have the requisite experience as nightclub insurance can be a little tricky.
Tip 2. Take an increased excess. As you know this is the first part of  the claim you have to pay (in the event of a claim). Excesses can vary  from £1,000 to £3,000 depending on who you go with. (A little plug…’s excess can be as low as £500 which leaves  you with more options to obtain further discounts).
Tip 3. Re-evaluate your cover without diluting or decreasing it – in other words look at the areas that you can do without. We are not suggesting you underinsure but focus on areas that may not be of high importance ie., can you do without goods in transit cover ? Ultimately, it is a matter of finding the right balance between the cost of insurance and having adequate cover which is always subjective matter.
Tip 4. Correctly define your business. This might sound a bit odd but  tell us whether your club is a nightclub or whether it is a late night bar with a late licence. This difference will definitely affect the price you pay. And finally…
Tip 5. If you can pay the full annual premium upfront we will also give you a further discount !
So there you are… discounts all round…..! or is it drinks ?