Coffee Shop Business Insurance
Owning a coffee shop is much like owning a restaurant with a few key differences. If you offer coffee and snacks then you may not need as many employees, and you can adjust your operating hours to fit your clientele. Coffee shops are popular gathering places for customers and you’ve worked hard to make yours a successful hang out spot. Make sure all of your hard work doesn’t go to waste by protecting yourself with commercial insurance coverage.
General liability is particularly important for coffee shop businesses like yours, because you have a lot of people coming and going throughout your operating hours. If a customer were to receive an injury while at your shop, he could sue your company for the damages. General liability protects you from potential liability created by bodily injury to customers and customer property damages as well. It also provides you with product and advertising liability. If, for example, claims are made against you in the future for a picture you included in a magazine advertisement, general liability would cover the damages.
Business Owners Policy (Bop)
A business owners policy includes general liability and allows you to custom tailor business insurance coverage to your specific needs.
- Equipment Breakdown – If your furnace goes out in the middle of winter do you have the means to repair or replace it so that you don’t lose business? A BOP can cover the cost of equipment malfunctions and breakdowns.
- Buildings and Contents – The building your coffee house operates from is critical to your success. A BOP can cover the cost of repairing damaged parts of the building, replacing destroyed content inside, and replacing improvements you have made. For example, if you have a special themed design style in your coffee shop and your décor is damaged by smoke from a fire, a BOP can cover the cost of cleaning or replacing the decorations.
- Business Income and Extra Expense – When natural disasters affect your business, it can force you to stay closed temporarily. A BOP can provide for lost income and temporary extra expenses.
- Products and Completed Operations (Included in General Liability) – Many coffee shops sell other products such as tourist trinkets. If a customer is harmed due to products you’ve sold, a BOP can protect you from the liability.
- Electronic Data – These days coffee shops maintain customer lists, inventory and supply data electronically. If those files become corrupted it could cost your business extensively.
- Valuable Papers Protection – A BOP can protect you from the expense of having to replace and research critical physical paperwork your company needs.
- Employee Dishonesty Coverage – Sometimes even long-term trusted employees can perform dishonest acts. A BOP can protect your coffee shop from losses due to theft, unauthorized transactions and other similar problems.
If you use vehicles for any business specific reason, you need to protect them with business auto insurance. Whether you have company cars or you use your own for business purposes, if there is ever an auto accident then business auto insurance can cover damages as well as related medical expenses.
The people who work in your coffee shop must be protected with workers comp insurance. This coverage is specifically designed to take care of them if they’re ever injured on the job.