All business owners face a certain number of risks, but few must ever confront them in the same form and magnitude as does the restaurant owner. In addition to the usual concerns, eatery owners of any stripe must cope with numerous contingencies specific to the industry. The protection of walk-in patrons is only the beginning. They must also consider the daily threat of damage and harm from hot stoves and other kitchen items. Throw in the danger of illness arising from foodborne microbes and pathogens, and the average restaurateur is in constant danger of loss from property damage and lawsuits.
That’s where restaurant insurance comes in. Just knowing that you’re adequately protected will take your mind off these worries, allowing you to concentrate instead on your menu and your clientele. Of course, given the finer points of this type of enterprise, no ordinary business owner’s policy will do. You’ll want to insure your venue with coverage that’s tailored directly to the restaurant industry as well as to your particular establishment.
What Kind of Insurance Does a Restaurant Need?
From high-end bistro to greasy spoon, any establishment engaged in the business of serving food and drink faces a wider range of risks and hazards than do other types of venue. Therefore, an appropriate restaurant insurance program will have you covered in the following ways:
- Liability. This wide-ranging protection insurance will have your back in case of lawsuits arising from an array of charges that could include personal and bodily injury; property damage; food poisoning; and even libel or slander.
- Property insurance. While your general liability will ordinarily cover you for certain damage to the premises themselves, property insurance will protect your inventory, your equipment and anything else that your business either owns or rents.
- Worker’s compensation. This government-mandated insurance arrangement covers lost wages, medical treatment and recovery services for employees who suffer injury while on the job.
- Crime. This form of insurance will help your restaurant regain its footing if robbery, employee theft, destruction or embezzlement threaten to bring it to its knees.
- Business interruption. If a covered loss should force you to shut your doors for any period, business interruption insurance can spell the difference between helping your restaurant survive and sending it to its eternal rest.
- Identity theft. In the business-directed version of this common menace, criminals will steal and use your restaurant’s good name to establish a line of credit with retailers and banks.
- Valuable papers. All your business’s records and printed documents are susceptible to loss, but valuable papers insurance will pay for their reconstruction or restoration.
When Specialized Forms of Insurance May Be Needed
While all food-serving establishments will need to carry insurance, the exact form will vary from one state to another. Some that may require specialized coverage include:
- Coffee shops and tea rooms.
- Food delivery services.
- Fast-food emporiums.
- Lounges and nightclubs.
- Pizza parlors.
Every restaurant is unique in some respect, and customized insurance programs will ensure protection for every moving part in eateries of any shape and size while excluding coverage that the smaller establishment really doesn’t need. In this way, the restaurateur can safeguard every needed asset while cutting down on surplus spending overall.
When Restaurant Vehicles Enter the Picture
Do you operate a traveling food truck or make home deliveries on request? If your establishment employs vehicles in any shape or form, you’re going to require business vehicle insurance. Specialized available forms include insurance that is tailor-made for the protection of:
- Box trucks.
- Commercial trailers.
- Food trucks.
- Pickup trucks.
If you or anyone who works for your restaurant drives a personal or company-owned vehicle while doing business, commercial vehicle insurance is an absolute must. Unless you carry it in its proper form, claims against your restaurant’s van, truck or trailer could be ruinous for your enterprise.
Getting the Proper Restaurant Insurance
You can’t run a restaurant without insurance, and the experienced restaurant insurance brokers at All Kinds of Insurance can help you obtain it at the levels you require and the price that fits your needs.
At All Kinds of Insurance, our aim is simple: to see that your restaurant obtains the coverage it needs without going overboard. Our familiarity with a wide range of restaurant insurance carriers allows us to find you the proper coverage while at the same time saving you money. To obtain your restaurant insurance protection easily and economically, call All Kinds of Insurance today at 702-534-4697.