Restaurant Insurance Information
Owning a restaurant can be an exciting venture; however, it does come with a significant amount of risk. A comprehensive insurance policy is one of the best ways to mitigate these risks.
What Is Restaurant Insurance?
Restaurant insurance helps provide coverage that protects your business, assets and employees. It can help cover unexpected costs and help you stay open if things go wrong, such as replacing spoiled food due to a broken refrigerator or covering the costs of a lawsuit from a customer who gets sick from contaminated food.
Types of Restaurant Insurance Coverage
A restaurant insurance policy typically includes some combination of the following coverages:
What Kind of Insurance Do I Need for a Restaurant?
- General liability insurance may help cover a company’s legal liability after accidental third-party property damage or bodily injury.
- Property insurance may offer financial protection if a restaurant’s property is ruined or damaged in an insurable event, such as a fire or theft.
- Liquor liability insurance may pay legal expenses and claims brought on by customers injured by an individual who was drinking at your establishment.
- Workers’ compensation insurance may provide replacement income and medical benefits to employees injured or ill due to a work-related incident.
- Business interruption insurance may provide ongoing income if your business is forced to shut down or cover costs for relocating your restaurant temporarily.
- Equipment breakdown coverage may cover the cost of repairing broken equipment for reasons other than improper maintenance.
- Spoilage coverage may provide payment if a power outage or equipment malfunction causes perishable food to spoil.
The types of coverage a restaurant needs will vary based on the location, sales and other factors. Discussing your business in detail with an experienced insurance provider to find the best coverage is essential.
Why Is Restaurant Insurance So Important?
Restaurant insurance is critical because it can help protect you financially after unexpected situations, such as the following:
- Kitchen fires
- Power outages
- Property damage
Without insurance, you may have to pay for costly incidents out of pocket.
Restaurant Insurance Quote in Davie, Port Orange, Daytona Beach and Throughout Florida
If you want a restaurant insurance quote, contact Iten Insurance Agency. We are committed to helping you find the coverage you need.