Restaurant Kitchen

To make money, your restaurant has to operate efficiently. After all, if you can't serve your customers, they won't leave happy, and that could put you in a bind. That's why, should critical business equipment malfunction, then there could be a very costly loss you might have to face. If you have quality restaurant insurance in place, you might have an ability to respond to these failures. The protection you need is likely equipment breakdown insurance. How can this coverage help you?

Your business insurance policy might have a couple of different options available for equipment damage. Usually, however, you need equipment breakdown insurance in addition to your standard property coverage.

Equipment Breakdown Insurance

As a restaurant owner, you must keep your stoves, plumbing, refrigeration systems and other critical appliances in good working order. However, a variety of accidents, from the everyday to the unexpected, might damage them.

Most restaurants carry property and contents insurance for their physical assets. So, if a fire, storm or vandalism damages equipment, this coverage can help you afford to repair or replace the damaged items.

All the same, it doesn't have to be a major accident that damages equipment. Something as innocuous as a power surge, motor failure or operational mistake might cause a failure in your chain of operations. These issues might have nothing to do with an outside event, such as a fire or storm. Therefore, for these isolated incidents, equipment breakdown insurance might help you.

Why You Need Coverage

Let's say you find that a power surge occurred in the night at your restaurant. It caused a short circuit on your range, and you now can't prepare food. Since your business is a restaurant, you probably have a big problem on your hand.

  • You will have to repair the range, or you might even have to replace the whole system.
  • While you can't use your range, you can't serve your customers. That could lead to at least a temporary halt in business.
  • As long as you can't offer full services, you can't make the money you need to keep the business secure in the long term.

All in all, if you have an equipment failure, you face a risk of long-term insolvency.

All the same, this is a situation where equipment breakdown insurance can help. First, coverage can help you receive covered costs for the repairs or replacement of the items. Furthermore, your coverage can help you recover the income (and potentially the food stock) lost during the failure. As a result, you'll have a very good chance of full recovery following the incident.

Don't delay! Speak with your Exceed Insurance representative about equipment breakdown coverage today.

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