Getting appropriate restaurant insurance coverage is as important for your business as having an irresistible menu, competent staff and positive customer reviews. If you do not have a policy or it is inadequate or outdated, you may be putting your business at risk. Don’t let the expense bother you because insurance will protect your business from a diverse range of possible difficulties. Based on your location, the size of your facility, and the extent of coverage you want to get, you may need specific kinds of insurance.
Restaurant insurance coveragecommonly includes the following types:
Property insurance
You need a policy for property insurance if you have a mortgage or equipment. This is the most commonly used type of insurance that offers protection in case of a fire or some other unfortunate events. However, it usually does not cover earthquakes, floods or other natural disasters.
Life insurance
Based on your financing and mortgage, you may require a life insurance policy to meet your financier’s requirements. Your life insurance will also help your family in case something happens to you.
General liability
A general liability insurance policy offers protection to you and your business in the event that someone falls sick after they eat at your restaurant or if someone slips and falls. Whether either of these events happens with or without your fault, you may still get sued.
Automotive liability
You would need this if your company has a vehicle. Some types of general liability policies cover the company vehicle, but you need to check that out.
Liquor liability
If your restaurant holds a liquor license and sells it, you will be required by most states to have restaurant insurance coverage for liquor liability. This is useful if your customer drinks too much and drives or gets disruptive, causing harm to someone else.
Workers compensation
Most states require an employer to carry insurance coverage for workers’ compensation. It offers you protection in case an employee gets hurt or injured at work.
Unemployment insurance
This policy will help your employees who have stopped working for you, until the time when they are able to find work.
Some supplementary policies for insurance coverage can also be acquired at additional cost. These include loss of business insurance, specific peril insurance and food contamination insurance. The best strategy for acquiring insurance coverage for your restaurant business is to contact a reliable insurance company for their expert knowledge about the right coverage for your business and the relevant state laws in your region.
Get more information about restaurant insurance coverage at RSI Insurance. Read more about them at Website Domain.
