Social Club package insurance
Social Club Insurance -Insurance for your social or sports club is usually obtained on a package basis, the policy will be split in to a number of different sections, some are compulsory, some you will be able to choose the cover on offer. The main policy sections include: Contents Insurance, this will include all of the furniture and your fixtures and fittings, equipment and stock. High risk items, such as computers, wines & spirits may have to be listed separately. Your sums insured should represent the full replacement cost of the items to be insured. Other important sections of the policy will cover Business Interruption (in case you are unable to trade, following a serious incident at the premises) Business Interruption will be calculated on a loss of gross profit / reduction in turnover basis or Increased in cost of working.
There are some worthwhile extensions and these include, Denial of Access, Customers & Suppliers Extension and failure of Public Utilities. Other sections of the policy include: Liability insurance (public, products & employers liability insurance), money and loss of licence cover. A fairly broad range of perils is available and these can be extended to include accidental damage cover. Typical perils are: Fire, Lightning, Explosion, Aircraft, Earthquake, Storm, Flood, Burst Pipes, Riot, Civil Commotion, Malicious Damage, Impact, Theft, Attempted Theft, Lost Keys, and Subsidence Landslip & Heave. A useful add on is Legal Expenses Insurance, which can provide both insurance and legal advice against a whole range of events. If you own the freehold of your sports or social club, you will need to arrange the buildings insurance. If you have a mortgage on the property, the lender will require their name to be listed on the policy and they will want confirmation that a full range of perils is on offer.