Types of Restaurant Insurance Coverage You Need in New York

New York Restaurants

If you are reading this, chances are, you are currently in the process of starting your own restaurant within New York. Congratulations on your new endeavor!

While it may be true that you are exceptionally eager to get cooking, it is imperative that you take the time to ensure that you are properly insured.

Restaurant insurance is specially-designed insurance that is designed to completely cover all of the various aspects of your business – from property to employees to supplies to the customers that you serve. The restaurant business carries a lot of risks.

By ensuring that you have the coverage that you need in place, you are protecting yourself and your business from these risks.

General Liability

This type of restaurant insurance coverage aids in protecting your business against lawsuits that are directly related to the injury or the damage of property that is committed by the business.

This is mandatory for all restaurants in New York. An example of when this coverage would protect you is if one of your customers developed food poisoning after eating at your establishment.

Property Insurance

This coverage will protect your building in the event that any damage occurs. The equipment and methods that your restaurant utilizes will determine the cost of this coverage.

If your establishment also has a drive-thru, you will need additional coverage for paved surfaces, signage, and other components associated with the drive-thru region.

Workers’ Compensation

This coverage aids in covering the financial-based ramifications associated with illness, injury, and/or death of those that you employ. This is a mandatory coverage for all restaurants within the State of New York.

Equipment Insurance

This coverage protects the equipment that is used within your restaurant. Should it break down or become inoperable for one reason or another, this aspect of your restaurant insurance will help cover the costs of repair, maintenance, and/or replacement.

Business Income

In some instances, your restaurant may need to close down due to damage or as a result of a disaster. This helps to ensure that your financial loss is covered during these periods so that you do not lose your employees and/or your business.

Food Spoilage

Your restaurant may experience a surge, power outage, and similar issue. In the event this happens, this restaurant insurance coverage will kick in and cover the costs associated with replacing any food that has spoiled during the event.

Being that food is imperative to your operations, it is ideal that you make certain that you carry this coverage at all times.

Get Your Coverage Today

In this guide, you have been introduced to the most basic coverages associated with restaurant insurance.

In addition to this, you may opt for business auto insurance coverage, art floater insurance, liquor liability, and similar coverages.

By calling us here at Modica Associates today, we can work closely with you to determine which coverage types should be included in your restaurant insurance.

Simply call the following number now for immediate assistance: 718-855-1836

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