Castle Hill Restaurant Insurance Case Study
Updating Outdated Cover for a Castle Hill Restaurant
Location: Castle Hill NSW 2154
A restaurant in Castle Hill, NSW 2154 approached Ideal Insurance Brokers for a review of its existing insurance.
The policy had been in place for some time, but the business had grown and several details were no longer accurate.
What We Found
The review identified potential underinsurance, along with outdated employee and turnover information.
Contents insured for less than the current value of its assets
Employee numbers were out of date
Turnover information was out of date
Rather than simply renewing the existing policy, Ideal reviewed the restaurant's current operations and updated the insurance to better reflect the business.
The Result
The contents sum insured was increased, employee numbers and turnover were corrected, and the insurance arrangements were restructured.
Importantly, the premium was reduced from approximately $9,500 to $7,850 — a saving of around $1,650.
The restaurant ended up with insurance that better reflected its current business while paying less for the restructured cover.
Previous
~$9,500
Updated
~$7,850
Saved
~$1,650
The Takeaway
This review shows why restaurant owners should check their insurance when their business grows. Changes to contents, turnover, employees and operations can make an existing policy outdated.
Updating your insurance does not always mean paying more.
Running a restaurant in Castle Hill, The Hills District or elsewhere in NSW?
Talk to Ideal Insurance Brokers about Restaurant Insurance NSW and reviewing your current cover.
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Insurance Disclaimer: This page provides general information only. Insurance cover is subject to the relevant policy terms, conditions, limits and exclusions.