Are you deciding on your Restaurant Insurance plan for your new business?
Then we advise you to read these important facts before you proceed ahead!
Running a restaurant business is as difficult of a task as any other business. You never know what kind of obstacles you may run into. And you’re always exposed to greater risks when you don’t have insurance. Hence, it’s always advisable to protect your restaurant with insurance.
What’s unique about restaurants is that you have a lot more direct interaction with the customers. And this is something you have to deal with every day. Hence, it’s not just your business and employees you need to protect, but also your customers. This is also what makes Restaurant Business Insurance different.
Do you want to know more fun facts about Restaurant Insurance? Then we highly recommend you to continue reading.
Fact 1: General Liability Insurance has a very low liability limit
Most people think that their General Liability Insurance will provide enough coverage to deal with all the claims. And this might be acceptable if you don’t get many claims as well. But just one bad year of too many claims is enough for the restaurant to go bankrupt.
Hence, it’s never advisable to only rely on just General Liability Insurance for complete coverage. This also leads us to our second fact.
Fact 2: Always get added Liability Coverage premiums along with your General Liability Insurance
As discussed, General Liability Insurance is never enough for a restaurant. You should invest in a number of important Restaurant Insurance premiums like Liquor Liability Coverage, Spoilage Coverage, Workers’ Compensation Coverage, Food Contamination Coverage, Equipment Breakdown Coverage, Employment Practices Liability Coverage, and Umbrella Liability Insurance. These Liability Coverages will provide complete protection to your restaurant business.
Fact 3: Your Insurance covers the food you serve to the customers
You read that right. Every Restaurant Business Insurance plan covers the food that you serve in your restaurant. So if a customer ends up getting sick due to the food you serve, your insurance will cover their medical expenses and claims.
Hence, even if your chef makes a small mistake while preparing the dish, you won’t have to bear the consequences directly.
Fact 4: Even your food truck gets coverage under your Insurance policy
If your restaurant business also owns delivery trucks, then they will be covered under your Restaurant Insurance. These trucks fall under Commercial Auto Insurance and get all the coverage that generally comes with the premium. That means if your truck gets into an accident while delivering or picking up food, then your insurance will cover it.
Fact 5: All the trips and falls in your restaurant premises are covered
Spillage and wet floors are very common in the food industry. Hence, the chances of an employee or customer involved in slips and falls are also pretty high. Fortunately, your Restaurant Insurance covers the medical costs and claims of such an incident.
Considering how often this could happen, it’s also advisable for every restaurant to get Umbrella Liability Insurance to cover all these claims.
Fact 6: Your Restaurant Insurance also covers food hazards
That’s right! If your food gets contaminated due to spoilage, your policy will cover the cost of damages and replacements. Just make sure your employees catch them before they use those products. Also, if this happens in your restaurant, you should definitely 86 all the dishes that use that ingredient.
Fact 7: It’s not as expensive as it seems
You read that right! Your Restaurant Insurance, with all the insurance premiums mentioned above, is not as cheap as you imagine. When you can choose the right kind of package that includes everything, it won’t cost you much. You just need the right channel to find all these options.
That’s where Exceed Insurance comes in. With our range of insurance providers, you will have ample options to choose from. This will help you drastically reduce your Restaurant Insurance costs. It will also allow you to find the best Restaurant Insurance that has everything you need for your business.
Just call our insurance experts on 855-5EXCEED or write to us at [email protected] for any query. And if you wish to explore your options, you can just check them out under the Insurances tab on Our Website.