Penrith Restaurant Insurance Case Study
Correcting Insurance for a High-End Penrith Restaurant
Location: Penrith NSW 2750
John, the owner of a high-end restaurant in Penrith NSW 2750, asked Ideal Insurance Brokers to review his existing insurance.
The restaurant had been insured as a café/shop, and the policy did not fully reflect the business.
What We Found
The review identified several issues:
Incorrect occupation listed as a café/shop
Outdoor footpath seating not adequately addressed
Contents insured for $250,000, while the actual value was closer to $450,000
No machinery breakdown cover
How We Helped
Ideal reviewed the restaurant's operations, property, contents and equipment. We corrected the occupation, addressed the outdoor seating exposure, increased the contents sum insured to $450,000, and added appropriate consideration for machinery breakdown.
The Result
The annual premium increased from approximately $3,980 to $5,760.
John was comfortable with the increase because the insurance now better reflected his restaurant, its assets and the risks involved.
Previous premium
~$3,980
Updated premium
~$5,760
The Takeaway
This review showed why restaurant insurance should be reviewed when the business, equipment, property values or operations change. The cheapest policy is not necessarily the right policy if important details are incorrect or missing.
Operating a restaurant in Penrith NSW 2750? Contact Ideal Insurance Brokers to review your current insurance.
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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.