Running a successful restaurant is challenging enough without having to worry about things such lawsuits, property damage or loss of income. This is one of the main reasons why restaurant insurance is so important. It can help to reduce these kinds of worries and allow you to concentrate on the food and customers. Most restaurants face a wide range of risks every day.
What to talk to a professional insurance agent?
Call: (973) 783-6600
Restaurant insurance policies usually include coverage’s such as:
This is an important element of any restaurant insurance plan. It offers protection against lawsuits and other
kinds of financial liabilities that may result from things such as product liability, slips and other business
Property insurance is supposed to protect your property in case of a fire, theft, vandalism and food spoilage. However, it does not necessarily cover disasters such earthquakes or floods.
In most states, any establishment with a liquor license must have liquor liability insurance. It offers protection against liabilities brought by customers. For instance, if a customer has too much to drink, drives off and ends up hurting themselves or someone else the restaurant will be sued.
This type of insurance is particularly important for those who have company vehicles. Depending on your situation, it can also be covered in general liability.
This type of insurance coverage protects your employees if they happen to get hurt at work. In most states, all employers must carry some type of workers comp.
Loss of business insurance
If you lose sales because of a covered cause of loss the policy will help the restaurant recoup some of the income. There are various types of restaurant interruption coverage, we will find the one most suited to your budget.
Food contamination insurance
If you happen to lose power at the restaurant because of a storm or fallen power lines, and the entire contents of your freezer go bad, this policy will pay to replace the food lost.
Specific peril insurance
This policy covers natural disasters that general liability insurance doesn’t. They may include floods, earthquakes or power outages because of either. The policy will help to recover any losses incurred because of these events.
Insurance is a critical element of any restaurant business. It will provide you with the protection you need against a myriad of problems.
When buying restaurant insurance, it’s very important that you use a trusted insurance agent, especially if it is a new restaurant. You need a qualified team of professionals who clearly understand the local and state laws regarding what kind of insurance you need. In addition, they will help you to decide what the best coverage for your restaurant is.