Make Insuring Your Restaurant Easy as Apple Pie

Chances are, if you serve any kind of food or drink, you need general liability insurance. Being in the food and beverage business can come with great risks. That’s why it’s important to protect your restaurant with the best kind of coverage.

Who Needs Specialized Restaurant Insurance?

  • Cafes/Coffee Shops
  • Fast Food Restaurants
  • Ice Cream Shops
  • Fine Dining Facilities
  • Full Service Restaurants
  • Caterers
  • Cafeterias
  • Pizza Shops

Why Is Restaurant Business Insurance So Important?

Insurance protects the restaurant business you’ve worked hard to build – and helps keep it moving forward. No matter how hard you try to make sure everything is perfect, problems happen. Insurance is there to help when they do. If you’re in the food and beverage business, its best to start with a business owner’s policy (BOP) or a business insurance package policy.

A BOP combines three general insurance coverages that are important to almost every business: General Liability, Commercial Property, and Business Income. Bundling your policies into a BOP is a great way to lower your rate over purchasing the policies separately. If you have employees, you’ll also be required to have Workers Compensation.

General Liability

General liability insurance provides protection in situations where you could be held liable for injury to other individuals or damage to their property. Commercial property insurance protects your business property from damage or loss. A BOP typically covers:

  • Damage to your business property
  • Customer injuries and property damage
  • Advertising injuries, such as slander

The general liability portion of a business owner’s policy protects against lawsuits related to customer injury or damage to a customer’s property that happened at your business. To be sure of what your policy covers, you should speak with your licensed, local, independent agent protection coach.

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Risks Associated with Serving Alcohol

If your food service business sells alcohol, you need to purchase liquor liability insurance, which can be added to a business owner’s policy. This coverage protects you in the event of customer injury or property damage caused by someone who consumed too much alcohol at your business.

Temporary Closure

An unexpected closure for restaurants and other food service businesses could result in devastating financial losses. For example, a restaurant may need to close after a fire until restoration is complete. Business interruption insurance shields against lost revenue and other expenses related to closure caused by a covered property loss.

Optional Food Spoilage and Contamination Coverage

Whether it’s caused by a malfunctioning refrigerator or a power outage, damage to your stored food can be a big blow to your business. Food spoilage coverage can help reimburse the cost of replacing spoiled frozen, refrigerated, or shelved perishables.

Food contaminated by a supplier or by improper handling may also need to be thrown away. Food contamination coverage helps with replacement costs, along with associated costs such as cleaning or advertising to restore your reputation. Food spoilage and contamination coverage can both be added to commercial property insurance.

Make Your Restaurant Insurance Work for You

Business owners can tailor their restaurant insurance program to meet their specific needs. In the food service industry, useful add-ons might include liquor liability insurance, business interruption insurance, cyber liability insurance, EPLI or other endorsements. You can also add coverage for risks like cars parked with a valet service or items left at a coat check. To fully understand your policy, speak with your licensed, local, independent agent protection coach.

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“Stromsoe Insurance Team is amazing, if every company that I worked with would operate like them, Los Angeles truly would be called city of angels.”
John Melkonyan – Crispy Crust Pizza – Client Since 2005

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Insuring Your Home-Based Business

As the commonality of home-based business continue to rise, it is becoming increasingly more important to make sure that your business is adequately protected. Many business professionals that run their business from their home are misinformed and assume their assets will be covered under their existing homeowners’ insurance policy or business insurance policy that applies in the office. However, depending on your line of work, you may need additional coverage in order to receive full protection.

If you answer yes to any of the following questions, you may need to purchase additional coverage:

  • Does your standard homeowners’ insurance policy have a limit in coverage of business equipment?
  • Do you work from home on a regularly basis as opposed to your office at work?
  • Do you ever conduct business in contacts’ homes or allow contacts or employees to visit your home?
  • Is any of your business data stored at home?

Typical Home-Based Business Insurance Policies Include:

  • Rider to a Homeowners/Renters Insurance Policy – This is the least expensive option because it only provides limited additional coverage. If your business is run by a one-man operation system with limited liability exposure, this may be the perfect choice for you.
  • In-Home Business Policy – This will offer you coverage for business liability protection, and replacement of lost income from fire, theft, or any other disaster. This will act as a single policy, eliminating any gaps or duplications in coverage.
  • Business Owner’s Policy (BOP) – This will over you the most comprehensive coverage, protecting you from unexpected business interruption, damage to data or business equipment, and protection from malpractice or professional liability claims.

Stromsoe Insurance Agency is available for all of your California business insurance needs. Contact us today and allow us to provide you with the peace of mind knowing your assets are adequately protected.