Restaurants and similar businesses (such as diners, delis, and pizzerias) are exposed to a vast number of risks. These result in a high level of vulnerability – in terms of liabilities and lawsuits. The kitchen area of these businesses can be exceptionally dangerous.
Foods stored and prepared in these areas may go bad, accidents may occur, individuals may spread pathogens or experience injuries in and around these areas, and a wide array of other issues may arise.
Restaurant insurance aids in protecting owners and operators against these risks and to address any financial situations that may occur. Continue reading to learn more.
Who Needs Restaurant Insurance?
Any business that cooks and/or serves food should obtain insurance for their facility. The list is quite expansive. In addition to those that we have previously mentioned, the following should make certain that their business is protected by restaurant insurance:
- Bars
- Cafes
- Coffee Shops
- Food Delivery
- Fast Food Franchises
- Lounges
- Sandwich Shops
- Taverns
How Much Does Restaurant Insurance Cost?
Every business that qualifies for restaurant insurance has its own qualities and circumstances that directly expose them to various types of risks. As a result of this fact, the cost for the insurance coverage will vary from one business to another.
There are certain factors that insurance companies take into account when determining how much a business will pay for restaurant insurance. Examples of these factors include the type of food that is sold, how that food is prepared, the building where the business is located, and the number of individuals employed at said business.
Types of Policies Available for Restaurants
If you are a restaurant owner, you will be pleased to know that there are several types of policies that you may obtain. The following outlines these policies, with a brief description of each:
- Business Owners Policy – This insurance coverage packages both liability coverage and your commercial property.
- General Liability – This is a very basic type of insurance coverage. It helps the restaurant by providing protection against financial liabilities and lawsuits pertaining to accidents and other issues. Situations that would be covered underneath this type of insurance include falls, slips, trips, and even food-related illnesses.
- Worker’s Compensation – This is a necessary insurance for any business that has employees. If those individuals become sick at work or experience an injury at work, this insurance would cover them and protect the restaurant.
- Commercial Auto – If your restaurant delivers food in a vehicle, this insurance covers the vehicle used for business for your business.
How to Get Restaurant Insurance
If you own or operate a restaurant, it is imperative that you obtain restaurant insurance immediately. We here at Modica Associates can assist you. We provide a service to our partners that is perfect for their unique business need.
We work with the most competitively priced insurance companies throughout the nation so that you get the best deal possible. We are a team and view you as part of that team. If you are ready to work in collaboration with us, contact us now by calling: 718-855-1836