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Owning your own business is hard enough as it is right? Between the schedule managing, staff coming down with the mysterious sickness of the quarter, and especially unhappy customers.
We sadly can’t resolve the issues listed above but we can resolve an issue you might not even have thought of yet.
For a quality and affordable restaurant insurance quote from Insured ASAP, a leading restaurant insurance broker, contact us today at (800) 641-7488. Or start your business insurance quote online now.
Restaurant Insurance Programs
There are multiple “components” that make up a solid Restaurant Insurance Program. Different companies may offer these as a “bundle” while with others they are a’ la carte.
Restaurant Liability Insurance
Picture this, you have a customer who specifically lets you know of a food allergy that must be avoided. Your kitchen staff not paying attention accidentally contaminates their meal with said food allergy.
Not only does your customer suffer from the extreme allergic reaction but you are now wide open to a potential lawsuit.
See, things like this happen every day in our world. Although they might not happen every day in yours, our job is to make sure you are protected for the “what ifs” in your restaurant.
General Liability Insurance
This coverage is going to protect you from a variety of potential claims. Some of these examples can be bodily injury, property damage, personal injury and others that can potentially come up if you are found negligent.
In most states if you have employees then this isn’t even a question of do I want this? This is a must to be able to employee staff. Workers Compensation (otherwise known as workers comp) is strictly designed to ensure payment by employers for some part of cost of injuries to an employee. Some examples of this can be things like:
- Injury at Work
- Disease caused by work environment
In most cases an incident would need to take place while the employee is at the place of employment, however it would be best to discuss with your local independent insurance agent for more of a case by case basis.
Loss of Income
What happens in the event you are unable to open your restaurant due to a claim? This in most cases would cause a major hardship for you as a business owner. You wouldn’t be able to serve your customers which in turn means no income coming in.
This is where Loss of Income Insurance is imperative. This coverage would allow you to have a “back up” plan in the event you were unable to generate an income due to a covered loss.
This would allow you coverage for damage to your building, inventory, or equipment. Most policies would offer you a replacement cost coverage to these items so you would be able to repair or replace these items for today’s cost.
To make sure you have replacement cost coverage on property it is important to check with your independent insurance agent.
Liquor Liability Insurance — Dram Shop
Liquor liability insurance, commonly referred to as dram shop, is vital for restaurants that sell or serve alcohol to it’s customers. This coverage protects your business from the financial consequences of a liquor-related lawsuit.
Crime & Vandalism Coverage
This would cover you in the event you had a claim due to a burglary, robbery, employee theft, or any vandalism to the property.
Is catering a large part of your business operations? Insured ASAP provides custom restaurant insurance packages for restaurants that cater to clients at special events, parties, weddings, hotels, and other special occasions. Give us a call for more information.
Insured ASAP – A Leading Restaurant Insurance Broker
Restaurant owners have many risks associated with doing business. Our agency understands the business and can help build a custom restaurant insurance package designed for your small business.
Here are a few examples of clients we work with and make sure their business are protected:
- Fine Dining Restaurants
- Fast Food Restaurants
- Food Trucks
- Catering Companies
- Food Delivery Restaurants
- Ice Cream Trucks
- Bars & Nightclubs
- Local Diners
The list can go on and on.
Restaurant Insurance Costs
Just like all other small business insurance, restaurant insurance costs are based on multiple rating factors. No two businesses are alike, and restaurant insurance companies use specific details to determine your specific premiums. These details include:
- Business Location
- Type of Restaurant
- Time in Business
- Loss History
- Size of Business (financial and physical)
- Years of Experience
Generally speaking, an average restaurant can expect to pay $710 to $3,200 per year for a restaurant insurance package.
How To Get Started
The process of getting a restaurant insurance quote is simple and can be done in two easy ways:
Start a restaurant insurance application by quoting online: Start Quote
Contact us by phone for an instant restaurant insurance quote: (800) 641-7488
Either way, we’ll make the process easy!