Running a restaurant can be tough, but rewarding at the same time. Your restaurant is a meeting place for friends and family, and you have regular customers that are the keys to your success. But there are risks in running a restaurant, and you need the right business insurance to respond to your risks.
To protect your restaurant you should have the following kinds of insurance:
- Property insurance - Covering the value of your building and contents.
- Liquor liability - This helps protect you if a customer has too much to drink and drives and hurts themselves or someone else.
- General liability - It protects you in the event someone slips and falls in your restaurant or you cause injury to someone.
- Worker’s Compensation- Covers injury to employees.
- Business income - If you have a loss and can’t operate, this insurance provides replacement income for period of time.
- Food spoilage – Covers the cost of food that may be lost if freezers go down. This usually can be added to a boiler and machinery policy.
- Employment practices liability - Protects against wrongful employment practices including wrongful termination, discrimination and sexual harassment.
- Cyber liability - A newer kind of insurance that offers liability insurance for damages arising from a failure of computer security or a wrongful release of private information.
- Food borne illness coverage - This coverage insures against a customer becoming ill due to your food, or how it was prepared.