We have created the Restaurant owner's product which provides comprehensive, tailored cover for restaurant owners to protect them against the unique risks they face, including new emerging risks. Our product also enables a restaurant owner to manage their restaurant efficiently so that it can become a better business. They also get great rewards for managing their business risks well.
EMBEDDED COVER INNOVATIONS
In addition to the standard business insurance cover, you will get the following types of embedded cover at no additional premium when you add the relevant sections of cover. You will be able to increase your embedded benefits' cover amount at an additional premium.
ENHANCED BUSINESS INTERRUPTION COVER WHICH OFFERS:
- R100 000 business interruption cover (with a three-month indemnity period) automatically included for restaurants that have cover under the Buildings, Stock or Plant and machinery sections. This cover includes up to 7.5% of the sum insured to cover any franchise fees payable during the indemnity period.
- R25 000 customer loyalty benefit that can be used to issue vouchers to customers following a crime event such as a robbery occurring at the restaurant. This helps to incentivise customers to visit the restaurant again after the crime event.
RESTAURANT REPUTATION COVER WHICH OFFERS:
- R50 000 crisis and reputation management cover to help you respond to a crisis event.
- 24/7 access to global reputational experts specialising in the restaurant industry who will provide a full response strategy following a crisis event.
COVER FOR HAND-HELD POINT-OF-SALE (POS) DEVICES WHICH OFFERS:
- R10 000 cover for financial losses to the business as a result of an insured cyber event affecting the POS device's software.
- R15 000 accidental damage cover for your POS devices.
INCREASED COVER DURING PEAK SEASON
We will automatically increase the sum insured for the Stock (Fire section), Money and Theft sections by an additional 15% to help you account for the increased exposure and avoid underinsurance during peak periods.
OTHER PREMISES COVER
This cover automatically protects your business operations and equipment (under the Fire section) and offers you liability cover (under the Public liability section) by extending your insurance cover to other third-party premises. For example, where you may be hosting exhibition or catering events.
FLOATING STOCK COVER
This cover enables you to insure the stock you keep at multiple business premises by specifying one total sum insured across those multiple premises. This makes it easier for you to arrange insurance cover for your restaurant stock, without needing to constantly update it for each premises.
RESTAURANT LEGAL SERVICES BENEFIT
The Embedded legal support benefit gives you access to a commercial lawyer who offers legal help over the telephone. You also get access to contract drafting services for business contracts such as employment and service provider contracts.
TAILORED BUSINESS INSURANCE FOR RESTAURANTS
Using our market experience and insurance expertise, we have selected the sections of cover that are most appropriate for restaurants and that will provide you with adequate cover for your restaurant operations. You will be able to select these sections and any other sections of cover offered by the Discovery Business Insurance Plan.
Cover for your restaurant assets, equipment and possessions such as your building, kitchen equipment, electronic equipment, portable equipment that you carry around and motor vehicles.
Cover against crime events that lead to financial losses to your restaurant such as employee dishonesty or fraud, theft of money held at the restaurant as well as cyber crimes.
Liability and personal accident cover, including cover against the legal liability to compensate third parties who get injured or sick as a result of visiting your restaurant. You also get cover against bodily injury to any principal, partner, director or employee of the restaurant caused by accidental or violent means.
Cover against business interruption losses that result from physical damage to your property.You can also extend your cover to include cover for business interruption losses caused by theft, damage to electronic equipment and loss or damage to your business vehicles.
Get rewarded for driving well
In addition to the core insurance cover and embedded cover innovations, you will be able to get all the benefits and rewards offered under the Vitality Drive for Business programme. It is a driver behaviour programme that uses the latest telematics technology to measure and reward good driving.
Company Rewards
Get up to 30%
of your vehicle premiums back every year for driving well
Driver Active Rewards
Weekly Active Rewards
Drivers can earn weekly Active Rewards from one of our partners for driving well.
COVID-19 PREMIUM RELIEF BENEFITS
Discovery Business Insurance, a proud partner of the Restaurant Association of South Africa (RASA), recognises that the COVID-19 pandemic has severely impacted the restaurant industry.
We are therefore offering a premium relief solution to help clients with premium affordability:
25% premium cash back
To qualify for this benefit, clients must:
- Have an active Discovery Business Insurance Plan
- Be covered under the Restaurant owners' product or their business must be in the tourism or entertainment industry, as determined by our underwriting team
- Be up to date with their premium payment.
This offer is available during lockdown alert level 3 to level 5, or until the end of September 2021, whichever ends first.
It is available to both new and existing Discovery Business Insurance clients.
Read our information document for more information on the COVID-19 premium relief benefits for restaurants and the qualifying criteria.