What To Look For In Restaurant Insurance
When setting up any business, it is vital that you choose the most appropriate, most beneficial, and most cost effective insurance solution to cover all of your needs. Each business and every industry has its own unique requirements because of the day to day activities involved in that business. Running a restaurant, for instance, requires liability insurance for employees and for customers. However, there are some aspects of restaurant insurance that you may not have yet considered. Fortunately, restaurant insurance can be tailored to meet all of the needs of restaurants, coffee shops, delis, bistros and similar businesses.
Equipment coverage. The kitchen is the most important part of your restaurant. Kitchen equipment and food and drinks are often stored here, and in the event of a power loss or other non-fault incident, some items may become damaged or unusable. Choose restaurant insurance that covers you against the financial loss associated with this loss otherwise you may find that you aren't covered. Where possible, try to use an insurance policy that also covers you against power loss that occurs off premises but still impacts your business.
Liquor liability is vital. It covers your restaurant in the event that a customer becomes intoxicated and subsequently damages property, injures himself, or injures a member of staff or customer. Without liquor liability you may not be covered by a standard business or liability insurance package so if you serve alcohol on your premises then this must be included in your policy.
The Parking Lot and Your Valet Service
Your liability doesn't necessarily end at the door of your establishment. The parking lot, including any valet service, should also be covered in case of damage or loss. Otherwise you may stand to lose a lot of money in punitive or other damages. Ensure, when you request any restaurant insurance quote, that coverage is included for all of your premises and services.
Food Borne Illnesses
It may not be something you want to discuss or think about, but a very real possibility for any business serving food is illness caused by the food you serve. Food can become contaminated through any number of methods of infection and this can cause illness to diners. You must ensure that you are covered for this before you serve your first meal.
Choosing The Most Cost Effective Insurance For Your Restaurant
Restaurant insurance policies should include all of the above as well as general small business insurance features. Ensure before you accept a quote, no matter how inexpensive it appears, that this is the case. Sometimes, opting for the cheapest available insurance can leave you severely out of pocket in the future.
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