Restaurant – Bar Insurance
Protecting your restaurant is vitally important, not only to your livelihood but to those people you employ. One of the very first people you should speak with is your independent insurance agent who can customize an insurance policy based on your needs, location and budget.
Please note, when we refer to ‘restaurant insurance’ we are referring to fine dining establishments, diners, bars, pizza places, wine bars and coffee houses as well. Any location where you serve food and drinks will require some form of restaurant insurance.
No two insurance policies will be identical but some of the general coverage you will find includes:
- General Liability Insurance – to cover you in the event someone gets hurt or gets sick at your restaurant
- Liquor Liability – protects you in the event someone drinks too much and hurts themselves or someone else
- Automobile Liability – if you have a company car or a delivery van, this liability may be separate from your personal automobile insurance
- Workers Compensation – very important when you have employees working at your restaurant
The following insurance coverage is unique to any dining establishment and is worth the investment:
- Food Contamination Coverage – replaces the food you lose due to power outages
- Specific Peril Coverage – this umbrella policy covers any natural disaster that your general liability insurance may not cover
What Coverage Do You Need?
Every restaurateur’s needs will differ but if you’re looking to save money in your restaurant budget, is the cost of insurance really the right place to cut corners?
We live in a very litigious society where it seems a lawsuit is filed for even the smallest grievance and a lawsuit of any kind will greatly impact your restaurant business in a negative way. Rather than gamble with your livelihood, talk to your insurance agent about how best to protect yourself and your business should you find yourself in court. It’s not a scenario any business owner ever wants to face but it could certainly happen.
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