Restaurants run the risk, of receiving customer complaints about food preparation, spoilage, allergic reactions and sanitation. Train employees the best you can for safety and unexpected events, but be sure to have good protection behind you. Even the smallest incident like a customer slipping and falling on just-washed floors can cost you a great deal of time and money.
Protecting your risks by obtaining the right kinds restaurant insurance is a sound business decision.
Types of Restaurant 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 burning her mouth from a drink that was too hot, or spilling it on his or her lap. Premises liability will cover accidents occurring on your premises, such as a spilled beverages that cause a customer to slip and hurt themselves.
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 just that; unexpected. You can’t prevent or avoid them, but you can protect your business from them. You should have property insurance to offer benefits in case something like this occurs and causes damage to your building, 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 income as well. Equipment breakdown coverage is vital to your business 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. Restaurant insurance takes care of the unexpected events that might occur so you can continue to run a successful business.
