From finalizing the menu to designing your commercial kitchen, there are countless decisions to be made by every new restaurant owner. Should you sacrifice diner décor to cover a top-of-the-line oven? Would a three-compartment sink do for cleaning dishes, or should you splurge on the commercial dishwasher? No matter where you decide to spend or cut back on the details of your new establishment, you don’t want to compromise on the one investment that may protect your business altogether: restaurant insurance. Considering the risks of fire, food poisoning, burns, and other hazards of the food service industry, a solid insurance policy is vital to your economic success and personal peace of mind.
Common Coverage Options
Coverage opportunities vary policy to policy but understanding some basic insurance options can help you determine the program that is right for you and your business.
- Liability Insurance: may cover a broad range of incidents, including slips and falls, food related issues, and lawsuits.
- Workers’ Comp: generally covers job-related illnesses or injuries experienced by employees.
- Property Insurance: often protects property in event of fire, storms, or other calamities.
- Liquor Liability helps mitigate your risk if an intoxicated customer damages property or hurts someone.
- Food Contamination Insurance: fills any gaps in general liability policy by covering loss caused by lost or spoiled food.
Restaurants are exposed to unique and potentially devastating risks. Investing in a sound restaurant insurance policy safeguards your business and protects your assets, employees, customers, and operation.