Mexican Restaurant Insurance
The Mexican restaurant industry is worth about $38 billion. What’s even more impressive is that it continues to grow by nearly 3% every year. If you operate a Mexican restaurant, one way to make sure you are prepared for this growth within your business is to obtain Mexican restaurant insurance. Here’s the type of coverage you will end up with when you get insured.
Businesses of all kinds need general liability coverage, but restaurants especially do. If your Mexican restaurant is popular at all, you can expect dozens of people to visit on a daily basis. From a business standpoint, this sounds great, but it can also lead to legal issues if you are not properly insured. If any of your customers slip and fall, or even damage their vehicle in your parking lot, you could be responsible for their medical and car repair bills.
When you have general liability as part of your Mexican restaurant insurance, you will also be covered when it comes to any legal costs you incur if you are ever accused of libel, slander, or copyright infringement. That’s why liability is an important part of business insurance.
Business Owners (BOP)
Every business needs a BOP, since it combines a few important types of coverage. One crucial detail of this policy is that it will pay for building repairs when your restaurant is damaged as a result of a fire, vandalism, or nearly any other type of destructive event. It will also pay to replace any contents of the building, such as chairs and tables, if they are damaged. The BOP also covers accounts receivable, electronic data loss, sewer and drain backup, and more.
Some Mexican restaurants offer delivery services. If this applies to your restaurant, you need to add commercial auto coverage to your Mexican restaurant insurance policy. This is important because your personal car insurance policy will not pay for any repairs or medical bills if you cause an accident while driving for your restaurant.
Most Mexican restaurants have numerous employees completing various jobs. Whether you have a large staff or a tightknit team of employees, you need workers comp for them. This part of your business insurance policy will pay for any medical treatment they need after getting hurt at work. If anyone breaks a bone or gets cut or burned while cooking or serving food, they need to know that your Mexican restaurant insurance policy will pay for their medical bills. If they need to take time off work to recover, workers comp will likely also pay for their lost wages. Without this coverage, your employees could bring a lawsuit against you, so having workers comp is beneficial to both you and your staff.
If you serve alcohol, you need a liquor license. But equally important is liquor liability as part of your Mexican restaurant insurance policy. This way, if anyone causes a car accident after drinking at your establishment, your insurance should kick in to pay for any damages for which you are deemed responsible.