Whether you own a café, deli, diner or fine-dining restaurant, all food service businesses have unique risks in common. The cost-effective and thorough way to obtain property and liability coverage will be through a customized policy for your restaurant.
Property Insurance
Insurance should cover the real estate your business owns. If your business rents or leases its premises, most policies provide coverage for tenant’s improvements and betterments. These are fixtures, alterations, installations or additions that you have put into the space that cannot legally be removed from the landlord’s premises.
Insurance should cover your equipment, dishes, food and other business property. Your basic policy will probably include two coverages that are often vital to business survival if there is a disaster: business interruption and extra expense insurance. Business interruption insurance helps pay ongoing expenses while your business is unable to function after a loss and also helps make up for lost profits. Extra expense insurance helps you recover as quickly as possible by paying extra expenses caused by the loss, such as rent for temporary quarters. If these coverages are not part of your basic policy, you can add them for an additional premium.
Other useful property coverages are:
- Spoilage – covers the value of property spoiled as a result of a breakdown of your temperature control system due to conditions beyond your control
- Mechanical Breakdown – covers mechanical or electrical breakdown to your boilers, pressure vessels, refrigeration systems, piping and mechanical and electrical machines or apparatus that generate, transmit or simply use mechanical or electrical power
- Outdoor Signs – covers an outdoor sign not attached to the building
- Burglary and Robbery – covers the risk of theft by outsiders
- Employee Dishonesty – covers some risks of theft by your own employees
Liability Insurance
Liability risks are part of any business endeavor. Liability coverage protects against a broad range of potential liability situations—everything from slip and fall accidents to claims of food poisoning.
If your business serves alcoholic beverages, you should consider a policy endorsement to provide coverage for liquor liability claims caused by an intoxicated customer who causes damage or injury to others.
We can help you with any of the following coverages:
- General Liability
- Professional Liability
- Directors and Officers
- Employment Practices Liability
- Workers Compensation
- Occupational Accident
- Business Auto
- Umbrella
- Employee Benefits
- Property