Running a hospitality business can be stressful, and with so much on your mind, renewing your business insurance is often towards the end of your to-do list. 

In fact, we know a big chunk of small business owners admit that insurance is the last thing they consider when making business decisions. 

We get it. Thinking about business insurance can be like cooking with your eyes closed… difficult and likely painful.  

But not thinking about it at all could lead to you to even worse situations like not being covered when something goes wrong. 

Here are 3 situations where hospitality business owners should think insurance.  

  1. Business grown? Think insurance. 

As your business develops, your revenue stream may increase, and new employees may be onboarded to help you keep up with the growing demand.  

While this is great for business, it could mean that your business insurance may not cover the new risks you now face.  

Ensure that when renewing your policy, it reflects the current size of your business.

  1. Business circumstances changed? Think insurance. 

New technologies and regulations could make or break your business.  

Or maybe you have had to adapt your product or service to compete in this new environment. 

When circumstances change, it’s a good idea to ensure your insurance has got you covered. 

  1. Risks changed? Think insurance.  

When running a business, there are various risks that may affect customers and suppliers, such as accidents caused by understaffing or untrained workers, which could lead to claims against the business. 

This is why it’s important to consider if your policy includes/has enough Public Liability insurance*  to protect against third-party injury or property damage. 

Additionally, it’s important to consider the risks to the business itself due to events such as fire, theft, or accidental damage, which may impact assets such as your stock, equipment, and commercial premises.  

Business Insurance* is a package designed to provide cover for these assets and may need to be updated if any changes are made to the business premises or if there is an increase in external risks. 

Business insurance is there to protect you from the current risks you face. By not thinking about whether your risks have changed, these problems could become a lot worse if a claim were made against you. 

Think insurance today! 

We know that you’re not going to think insurance everyday. 

But hopefully, when these 3 situations arise, you’ll be urged to think insurance and review your cover 

With BizCover, buying business insurance has never been easier. Just jump online and compare quotes from a range of leading Australian insurers and you could be covered in minutes.  

Visit to compare quotes or give us a call today – no dramas! 

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2023 BizCover Pty Limited, all rights reserved. ABN 68 127 707 975; AFSL 501769