The introduction of adjusted level 3 lockdown restrictions has put further strain on restaurants’ ability to generate revenue, but it has also reduced the level of insurance risk posed by restaurants. Discovery Business Insurance recognises this and has introduced premium relief solutions for restaurant owners. These solutions will help with premium affordability, so that restaurants can remain covered during this difficult time when they need insurance cover the most.
All Discovery Business Insurance clients who have cover under the Restaurant owners’ product will get 25% cash back on their non-motor premium for January to April 2021. Both new and existing clients can qualify for the cash back.
In addition to the cash back, restaurant owners who need further assistance can apply for the interest-free loan offered by Discovery Insure to fund their premium for February and March 2021. In this case, we will use their 25% premium cash back towards their premium for these months and their loan amount will be reduced by the cash back amount. Clients will need to repay the loan in six equal instalments from April to September 2021.
We are committed to supporting our restaurants and hope that you will find these benefits valuable. Read our COVID-19 premium relief benefit one-pager for the qualifying criteria and more information about this benefit. You can also read our Restaurant owners’ product one-pager for more information about our bespoke insurance offering.