photo credit: Maxime Guilbot
We all love to eat out at our favorite restaurants on a daily basis. Cooks make a living preparing fast paced and specialized food orders. What if a huge storm knocked out the restaurant and injured you while you were eating? What if an out of control fire injured your cooks and destroyed thousands or million dollars’ worth of equipment? Restaurant insurance is a must have in this situation to protect the needs of your growing restaurant or bar operations, protect the employees and their hard work, and give you piece of mind that all of your equipment will be replaced instantly in the even chaos strikes in the form of damage.
Since you are dealing with foods and beverages, it is nearly imperative that all restaurants should want to carry restaurant insurance. For example, if you run a small cafe, a pub or a national chain, you could be held liable for anything from contaminated or spoiled food to spilled coffee, from diseased food to alcohol poisonings. If you run a fine dining, casual dining, fast food establishment, exotic or ethnic cuisine, delicatessen, coffee shop, microbrewery, a Irish pub or the likes, it would definitely behoove you to carry restaurant insurance for the sake of your customers and business interests in general as court costs and lawsuits as a result of food illness can be enormous. Why take the risk? Run your business with confidence knowing the proper restaurant insurance policy is firmly in place.
With a restaurant insurance policy, there are specialized segments that you need to watch for and obtain when you are shopping. All eateries and beverage localities should have Liquor Liability Coverage if you run an alcoholic establishment, Food Contamination Coverage, a form of Equipment Breakdown Coverage and Business Income Coverage at the very least. As with any type of online or offline insurance shopping goes, you need to work from the bottom line up; read all of the fine print on your final restaurant insurance quote to make sure that you are getting the insurance your establishment needs and not a penny more.
Make sure that exact amounts are covered and what guidelines and/or fire and health codes that need to be followed to qualify to have any disastrous events covered. Finally, make sure the employees have their coverage in place in case of loss of work due to an accident at work that may be a litigateable claim.
Having a great restaurant insurance policy is as important to the future of your business as having the most irresistible menu in town, and good customer reviews. However, not having a policy to cover your restaurant, or if your policy is outdated or inadequate, could cause you to be risking everything.