Business package insurance explained
Business package insurance for food and drink businesses
What a business package costs today for 8 typical food and drink businesses, renting their premises and without WICA, which insurers write each, and their public liability limits.
Food and drink businesses
| Business | Lowest a year | Cheapest insurer | Insurers |
|---|---|---|---|
| Cafe5 staff, S$100,000 of contents | S$218.00 | HL Assurance | 8 |
| Restaurant10 staff, S$150,000 of contents | S$299.75 | HL Assurance | 8 |
| Fast food outlet8 staff, S$100,000 of contents | S$218.00 | HL Assurance | 8 |
| Bakery4 staff, S$75,000 of contents | S$218.00 | HL Assurance | 8 |
| Takeaway kitchen3 staff, S$75,000 of contents | S$272.50 | Great American | 6 |
| Hawker stall2 staff, S$75,000 of contents | S$212.23 | Etiqa | 5 |
| Caterer6 staff, S$100,000 of contents | S$218.00 | HL Assurance | 6 |
| Pub or bar6 staff, S$150,000 of contents | S$632.20 | EQ Insurance | 2 |
Which insurers write each
- Cafe: written by all 8 insurers on our pages
- Restaurant: written by all 8 insurers on our pages
- Fast food outlet: written by all 8 insurers on our pages
- Bakery: written by all 8 insurers on our pages
- Takeaway kitchen: not written by HL Assurance and Sompo
- Hawker stall: not written by HL Assurance, MSIG and Sompo
- Caterer: not written by EQ Insurance and Tokio Marine
- Pub or bar: not written by HL Assurance, Income, MSIG, Sompo, Tokio Marine and Great American
Allianz quotes its Smart SME package live from its own site, so it is not priced on this page: see it with your own answers on our business package page, or press Ask Shenton to arrange. Every typical business · Price your own business.
How these prices are worked out
Each price is worked out from the insurer’s own published rates: the tables swept off Etiqa’s, HL Assurance’s and MSIG’s online quotes, Income’s sampled online prices, and the premium tables on Sompo’s, EQ’s, Tokio Marine’s and Great American’s application forms. We check them against the insurers every week. GST is included. Each business rents its premises (no building cover) unless the page says otherwise; with WICA, wages are taken as S$30,000 a year for each staff member. Allianz quotes its package live, so it is not on these pages. Shenton Brokers is an insurance broker in Singapore. Every business is in a CSV file, updated daily.
Questions people ask
How much is business insurance for a cafe or restaurant?
A cafe with 5 staff from S$218.00 a year (HL Assurance) and a restaurant with 10 staff from S$299.75 a year (HL Assurance), on today's published rates, GST included.
Is a pub or bar harder to insure?
Fewer insurers write it on their published rates: 6 of the 8 on our pages do not (HL Assurance, Income, MSIG, Sompo, Tokio Marine and Great American).
What public liability does a cafe package give?
On each insurer's cheapest plan for a cafe: HL Assurance S$500,000; Great American S$500,000; Etiqa S$500,000; EQ Insurance S$500,000; Sompo S$1,000,000; MSIG S$1,000,000; Income S$1,000,000; Tokio Marine S$500,000.
What does a business package cover for an F&B outlet?
Fire and extended perils on your contents, stock and renovations; Public liability for injury or damage to third parties; Burglary and theft, money on the premises and in transit; Business interruption after an insured loss; Glass, signage and electronic equipment.