Your restaurant is your pride and joy. Whether you started it as a way to share creations you make as a professional chef or you decided it was a great business to be in, you get the joy of bringing good food to your customers every day. You have to keep track of a lot of little details as a restaurant owner, and the last thing you need is to have to worry about accidents and unexpected events. Protect yourself and your investment for the long term with commercial insurance.
General Liability Insurance For Restaurants
General liability is an important overall business coverage that helps protect your restaurant from everyday hazards and problems. For example, if a customer chokes on a piece of steak while dining at your establishment, general liability can protect you from the expense of the lawsuits and settlements. General liability also provides coverage for product and advertising liability, customer property damages, and other general calamities that can arise.
Business Owners Policy For Restaurants
General liability is included with a business owners policy, or BOP. A BOP provides you with additional coverage that is specific to your business needs. It can be tailored to protect your company’s physical property and intangible assets as needed.
- Equipment Breakdown – If your ovens stop working or the air conditioning unit breaks down, a BOP can help cover the costs of repair and replacement so that you can continue business operations with the least amount of impact.
- Buildings and Contents – Without the physical restaurant structure you cannot provide services to your customers. A BOP can protect you from damages and loss caused to the building itself as well as the furnishings you have inside. Contents coverage can include outdoor eating areas and furnishings or improvements you’ve made to your restaurant.
- Business Income and Extra Expense – When your restaurant has to shut down for repairs, a BOP can provide for losses in income.
- Electronic Data – Any records that you keep in digital format are at risk of damage due to water, power surges, computer viruses and more. A BOP helps protect you from those losses by providing for recovery and replacement when needed.
- Newly Acquired or Constructed Buildings – If you purchase or build another structure for your restaurant, a BOP can protect it from damages and loss as well.
- Valuable Papers Protection – Licenses and certifications are critical papers in a restaurant business. If yours are damaged or destroyed, BOP coverage can help.
- Employee Dishonesty Coverage – In a restaurant, employees have access to food and supplies that might be easy to steal. Some of your employees may have easy access to cash as well. Thefts of this sort and other types of dishonest actions can cause your company financial hardships from those losses.
Business Auto Insurance For Restaurants
If your restaurant uses vehicles for any business reason, you need to protect them with commercial auto insurance. This coverage can pay for vehicle repairs damaged in an auto accident. It can also pay for medical expenses of any involved parties.
Workers Compensation For Restaurant Owners
Restaurants are successful in part due to the numerous employees that work hard there every day. By law, employers must provide workers comp insurance for all of their employees just in case there is ever an accident. When employees are injured on the job, workers compensation pays for their medical and recovery expenses.