As the owner of a bakery shop, you can enjoy running your business as long as you pay attention to your potential risks. You are at risk for a variety of liabilities, such as food items that cause illness to a customer, spoiled goods, or spills inside or outside the shop. Protecting your risks by obtaining the right kinds insurance is a sound business decision.
It’s vital to keep your business properly protected from the unexpected. You need to consider employee protection, equipment failure, and the host of other potential risks your business faces. We are ready to help explore your business needs and map out a strategy for protecting your success.
Types of Bakery Shop Insurance….
General Liability
This is the most basic business insurance policy. It includes completed operations, products liability, and premises liability. Completed operations and products liability are especially important because they protect you from lawsuits resulting from products that caused an illness or injury. A common example is a customer who slips and falls in your shop as a result of a spill. Premises liability will cover accidents on your premises and protect you from law suits that could occur as a result.
Business Auto
If you get into a motor vehicle accident during a business errand, it helps to have a business auto insurance policy. Business Auto insurance covers bodily injury and property damage along with protection from theft or vandalism while your car is parked. This type of policy is especially important for catering services or deliveries.
Spoilage Coverage
As you know, many ingredients you use can spoil quickly and you may not always notice it. This coverage protects your business from loss or damage to spoiled foods and can include replacing the spoiled foods for new food and ingredients.
Property Insurance
Unexpected events like fire, natural disasters, and extreme weather conditions are events that you need to protect your business against. You can’t prevent or avoid them, but you should have property insurance to offer benefits in case something like this occurs and causes damage to your building, bakery making equipment, or products.
Crime Insurance
You are at risk for theft of cash from your employees or items out in the open being stolen from customers or a passersby, vandalism to your shop. This kind of risk is difficult to imagine, but it is an important part of having the proper coverage.
Equipment Breakdown
Baking and cooking equipment is key to running your business. If any of this equipment was to break down, you would not only be liable for repairing or replacing the equipment but you would lose significant income as well. Equipment breakdown coverage is vital as it helps pay for repairs or replacements along with income loss benefits.
By choosing these business insurance policies, you can protect your assets and business that you’ve built with hard work. Bakery shop insurance takes care of the unexpected events that might occur so you can continue to run a successful business.
