The idea of starting a business in the food industry sounds thrilling and rewarding. But running a restaurant can come with several risks, including accidents, kitchen fires, and many more that could harm your business. These risks can occur at any moment, so you must haverestaurant insurance in place to save you from unwanted costs and legal consequences.
But why would you need restaurant business insurance, and what types do you need? Keep reading to find out.
Why you Need Restaurant Insurance
Before opening your restaurant and serving your specials, remember that you must insure it. As a business in the food industry, you need to ask yourself:
- What if a fire broke out in the kitchen and burned the whole establishment?
- What if my employee gets into an accident on the job?
- What if a customer slips, gets injured within the premises, and threatens to sue?
- What if my food made customers sick?
- What if a drunk customer starts hurting other guests, and I get blamed for everything?
These are only some of the possible problems you may face while operating your restaurant, and one way to save yourself from lawsuits and losses is insurance.Reliable restaurant insurance is one thing you should prioritize, especiallyfor startups.
Types of Restaurant Insurance you should Get
Depending on the kind of restaurant you have, there may be varying insurances you must get. Here are the most important ones you need to have.
General Liability Insurance
This type of coverage protects your business in case of any harm you may have caused. These can range from bodily injuries to property damage. General liability can also shield you from the consequences of copyright infringement, advertising injury, foodborne illness, and damaged reputation.
Commercial Property Insurance
Perhaps one of the most important aspects you need to have insured is your physical asset, particularly the property itself. There is no telling when damage can be inflicted on your property, such as fires and replacing furniture. If you want to save costs on maintenance and repair, make sure you get commercial property insurance.
Worker’s Compensation Insurance
Of course, you must not forget to insure your employees. Worker’s compensation insurance covers any fees in case one of your staff gets injured while working. This coverage also pays for lost salaries.
Liquor Liability Insurance
Is your business selling alcohol? If it is, don’t forget to get liquor liability insurance to protect your business ifan intoxicated customer commits serious injuries, property damages, or crimes in your restaurant.
Food Contamination Insurance
Restaurants are established for one purpose: to serve food. Food contamination insurance helps your business recover if an unexpected power outage causes your food to spoil or get contaminated.
Are you looking for a reliable insurance provider for your restaurant? Get in touch with ISU Armac at their website https://www.isu-armac.com/ to learn more.