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Ensure the future of the club industry with Good Club Insurance

Ensure the future of the club industry with Good Club Insurance

Clubs and bars have become vital revenue generators for the UK economy. The night-time economy is estimated to be worth £66bn, while employing around 1.3 million people. In fact, 6% of the UK’s gross domestic product comes from these businesses. That’s according to a report by the Night Time Industries Association (NTIA). The report hopes to transform the negative reputation often given to the night-time economy.

Reviving UK’s forgotten cities

Clubs can make a huge difference to once forgotten areas, helping to revive cities and attracting visitors to the area. Clubs can become the night-time pulse of cities, despite the media’s enthusiasm for broadcasting the negatives of UK nightlife. Unfortunately, the broader and less sensational benefits of a vibrant nightlife often become overlooked. But instead of encouraging binge-drinking and drug and alcohol-related crime, the NTIA argue clubs actually contribute to improving crime rates. Recorded crime is now 38% lower than in 2002 to 2003. Venues have become much safer, with most clubs careful to ensure that their customers always enjoy a safe evening out.

Number of UK clubs declining

But despite the enormous benefits the night-time economy brings, the nightclub industry faces huge challenges. The number of Britain’s licensed clubs fell from 3,144 in 2005 to 1,733 in 2015. And even London has lost half its clubs in the last five years. This decline is blamed on new police measures and the lasting effects of the recession. But some clubs have had to close due to safety fears or increased injury claims made against them. So, what can club owners do themselves to protect the future of their business?

Protecting your club’s future

Club insurance protects your business against the costly liabilities that owners face every day. Owning a nightclub can be an exciting and rewarding experience. However, hosting a large number of people in one place and while serving alcohol, nightclub businesses must protect themselves against the risk of injuries or property damage. That’s why protecting your investment with dedicated club insurance cover is vital to secure the success and future of your business.

What club insurance do you need?

You need to prepare your business for all the potential risks now and in the future. Therefore, you must ensure your business is fully protected with club insurance. Some of the most common risks of running a nightclub include:

  • Injuries to customers
  • Injuries to employers
  • Damage to venue
  • Damage to or loss of audio and electronic equipment
  • Loss of licence
  • Theft

Nightclubs can become a place where people make new friends, fall in love, discover new music or find their identity. Securing the right club insurance ensures that not only the venue and everyone in the business are protected, you as the owner can focus on running fantastic club nights, while helping to secure the future of UK’s clubs.