Owning a restaurant comes with many responsibilities, including obtaining a robust restaurant insurance policy. Without proper insurance for restaurant business, you would have to pay for costly incidents out of pocket.
What Types of Coverage Are Included in Restaurant Insurance Policies?
Restaurant insurance typically includes a combination of different types of insurance coverage, such as:
- General liability insurance: This insurance helps cover third-party bodily injury, property damage, product liability, and advertising injury claims.
- Property insurance: This insurance helps protect a restaurant’s physical assets, including the building, equipment, inventory, and furnishings, against damages caused by fires or theft.
- Workers’ compensation insurance: This insurance may help provide replacement income and medical benefits to injured or ill employees due to a work-related incident.
- Business interruption insurance: This business insurance may help compensate for lost income and operating expenses when a restaurant is temporarily unable to operate due to covered events.
- Spoilage coverage can reimburse the restaurant for financial losses due to food spoilage or contamination.
What Factors Can Impact Business Restaurant Insurance Rates?
Several factors can impact business restaurant insurance rates. It’s important to note that these factors can vary depending on the insurance provider and the specific policy. Here are some of the key factors that can influence restaurant insurance rates:
- Geographic location
- Size and seating capacity.
- If alcohol is served
- Safety measures
- Claims history
- Deductibles and coverage limits
- Available discounts
Restaurant Insurance Coverage
Liability insurance for restaurants, often referred to as commercial general liability insurance, offers vital protection for restaurants. It helps cover a range of liabilities, including third-party bodily injury and property damage on your premises, product liability for food-related issues, advertising and personal injury claims, and legal defense costs. If your restaurant serves alcohol, liquor liability coverage may also be necessary.
If you need a quote for restaurant insurance, contact Exceed Insurance Agency. Our goal is to provide you with the best policy for your circumstances.
- Can I customize Restaurant Insurance coverage based on my specific needs?
Absolutely. Exceed Insurance understands that every restaurant is unique, allowing you to customize your coverage to address the specific risks your food business faces.
- What kind of incidents are covered in Restuarant Insurance policy?
Exceed’s Restaurant Insurance covers a range of incidents, including fire, theft, natural disasters, customer injuries, property damage and many more.
- What types of Insurance coverage does Exceed offer for restaurants?
We provide comprehensive tailored insurance for food business, including property protection, general liability, and specialized coverages like liquor liability and foodborne illness.