There is a wide range of risks that restaurants are exposed to that make them vulnerable to lawsuits and other crippling liabilities. Obvious risk factors include the food going bad, and large numbers of people frequenting restaurants, as commercial kitchens can be dangerous. To protect against these types of risk and help prevent financial situations that are impossible to overcome, you need InsureWise, LLC to help you attain the best restaurant insurance protection possible.
What Types of Small Businesses Need Restaurant Insurance?
Adequate restaurant insurance is a must for any business that cooks and serves food including the following:
– Food delivery services
– Fast food franchises
– Sandwich shops
– Taverns/ Bars
– Coffee shops/ Cafés
– Among others
What Factors Affect Your Insurance Rate?
Different types of risk arise since each restaurant has its own unique qualities they are exposed to. Common factors that influence your rate, to name a few, include cooking methods, types of food sold, building premises and employees. For instance, a large tavern with a bar and full-sized industrial kitchen with fryers and ovens can expect their insurance cost to differ from a small coffee shop with limited cooking.
What Insurance is Required for a Restaurant?
For restaurants, basic insurance is necessary, and you should consider the coverage below.
Business Owners Policy (BOP): Into one policy, packages commercial property and liability coverage, which is a very common insurance strategy for restaurants.
General Liability: Resulting from accidents or other mishaps, a fundamental coverage that protects restaurants against lawsuits and other financial liabilities, which includes things like food illness, and customer slips and falls.
Workers’ Compensation: If your employees become injured or ill while at work, you have protection.
Additional coverages restaurants may need.
Commercial Auto: If you have a vehicle used for deliveries or other business use, this coverage is typically needed.
For your restaurant’s insurance coverage, call in the experts of InsureWise, LLC and let us as assist you in finding the best coverage for your needs!