Reasons Why Your Food Establishment Needs Restaurant Insurance
A business owner who operates a restaurant has unique requirements for insurance that protects them from a variety of risks. Your insurance policy can be customized to meet those specific challenges and business activities.
Customized Restaurant Insurance
Restaurants have a large number of patrons who come and go all day long, and this increases the potential risk of many unforeseen events. One of the vital elements in your restaurant insurance policy should be general liability insurance. This will help to protect you and your business from lawsuits that arise as a result of injuries on your premises. A customer who slips and falls in your restaurant could file a lawsuit, and the financial repercussions can be devastating if you do not have the appropriate restaurant insurance in place.
General liability insurance also covers your company when some types of property damage, such as to a customer’s personal property, occurs while they are at your business. There is property insurance coverage that, when added to your policy, provides protection for the physical building that you occupy as either the owner or a lessee. Your insurance agent can also add workers’ compensation insurance to your restaurant insurance policy. In dome states, it is required that businesses have this coverage. Additionally, there typically are different minimum requirements in the states that mandate workers’ comp insurance.
Workers’ compensation insurance protects your employees. It provides them with wage replacement if they are injured on the job. It applies to an employee who sustains an injury in the normal course of business. Workers’ comp also helps to cover their medical expenses by providing medical benefits to them. The insurance also protects the restaurant owner from claims derived from the incident.
All of the vehicles that are used for business purposes should be insured with commercial vehicle insurance. This is particularly important if your business offers delivery service to your patrons. There are many positive reasons why your restaurant or food establishment will benefit from having an insurance policy that is specific to the restaurant industry.