Restaurant Insurance

Understanding the Insurance Needs of Restaurants

Operating a restaurant can be a rewarding and exciting business venture, but these fast-paced work environments include many inherent risks and hazards. Sharp instruments, cooking equipment, electrical appliances and wet floors all present threats that could easily lead to serious accidents and injuries. As a restaurant owner, you must have various loss control practices in place, including a robust insurance portfolio.

What Insurance Coverages Does a Restaurant Need?

Your restaurant’s circumstances, risks and exposures are all unique. As such, your insurance needs must be carefully analyzed by a qualified insurance expert to ensure you are adequately protected. Although no two restaurants will require the same coverage, several types of insurance will be suitable for most, including the following:

·        General liability—This coverage can help pay for losses and damages accrued by third parties due to the following incidents:

o   Bodily injury

o   Property damage

o   Personal and advertising injury

·        Commercial property—This coverage may provide financial assistance if property used to operate your business is damaged, such as the following:

o   Buildings

o   Equipment

o   Tools

o   Inventory

o   Signage

·        Business income—If a covered event forces your business to close or cease operations temporarily, your insurance may be able to cover the following losses or expenses:

o   Rent

o   Mortgage payments

o   Employee wages

o   Lost income

·        Workers’ compensation—If an employee is injured on the job or develops a work-related illness, this coverage can help pay for the following:

o   Medical care

o   Lost wages

o   Disability benefits

o   Legal expenses

·        Employment practices liability—This coverage can help pay for legal costs and settlements if a current or former employee alleges that your restaurant committed inappropriate business practices, such as the following:

o   Wrongful termination

o   Sexual harassment

o   Discrimination

o   Improper hiring practices

In addition to these core coverages, your restaurant’s specific operations may make it necessary to enhance your insurance portfolio with additional protection, such as liquor liability insurance, cyber liability insurance and commercial auto insurance.

How Much Does Restaurant Insurance Cost?

Just as restaurants’ insurance needs can vary, so too can the cost of coverage. Insurance providers will consider the specific circumstances of your business before giving you an accurate quote. In most cases, the following criteria will be considered:

·        Types of food/beverages sold

·        Cooking and preparation methods used

·        Condition of your building

·        Number of employees

Get the Right Coverage

As your employees work hard to provide high-quality products and customer service to your clientele, you must take proper measures to protect everyone. But even the most diligent and careful restaurateurs may be unable to prevent every incident. Without adequate insurance, even a single incident or lapse in attention could lead to serious injuries or damages and irreparable financial ramifications.

The agents at CCIS Insurance Group are here to help make sure that doesn’t happen to your business. Our experts are well-equipped to help restaurants in the Fresno area assess and address their insurance needs with optimal coverage. Contact us today to get started.