Nightclub Insurance might be boring but…..

We all know anything to do with Nightclub Insurance may be not the most exciting thing on earth but it is a necessity and a requirement for Nightclub owners.

I’m not going to go into the ins and outs of the insurance policy in this forum but what I want to give you are 3 top tips you need to be aware so your claim is fully met when (and if) the unfortunate time comes along.

Unfortunately, some insurance claims are rejected by insurance companies simply because the nightclub owner has not adhered to or was not aware of his policy conditions. Your broker should help you out with this and it is also up to you to make sure you have, at least, had a look at your policy document (I know it’s boring but if you don’t it may cost you !). Because of the nature of your business all nightclub insurance policies have numerous conditions and warranties that you should be fully aware of.

So, Point 1 is to read your policy and make yourself aware of its conditions, limitations and your responsibilities.

The next area where a lot of nightclub owners fall down on is the actual application process. It is vitally important to answers the questions on the application form fully and without misrepresenting or concealing. A quick example of this (and I’ve seen this many times) is where the nightclub owner declares his establishment to be a late night bar instead of a nightclub. If you have a dance floor/area, charge on the door and have a late licence, in insurers eyes, it can only be deemed to be a nightclub.

This is the classic insurance company’s escape route to a claim if you have deliberately, accidentally (or otherwise) not answered the questions on the application form truthfully. Again, your insurance broker should be helping you out in this important process.

Point 2 – In your application form answer all the questions truthfully and without concealing or misrepresenting anything.

The last area where nightclub owners fall down on is providing back up information at the time of the claim which invariably leads to claims not being paid in full. No loss adjuster or insurance company is going to pay a claim unless you, the nightclub owner, can provide evidence of receipts, invoices and other financial information. Unfortunately, saying “ I paid cash” won’t wash with insurers…

Finally, Point 3 – Keep all financial documentation in respect of all financial transactions. That could be the difference of getting a claim in full or having it reduced.

Simple boring stuff but much better than losing money!

We’re always here to help out so if you need any advice or help get in touch on 0207 731 3700 or go to nightclubinsurance-uk.loc