Restaurant Insurance: Owning/Operating a Food Service Business
Owning or operating a restaurant or any kind of food service business is hard work, no doubt, but it can also be very rewarding. Whether it’s a local pub, a four-star restaurant or a neighborhood coffee shop, you work tirelessly to provide customers with good food and drink, great customer service and a pleasant atmosphere.
Of course, no matter how well your place of business is performing, the food service industry does have its share of potential hazards that can jeopardize one’s success. Sharp implements, boiling liquids and heavy lifting are all part of the job…not to mention accidents, equipment breakdowns or damage. Any or all of these can threaten your hard-earned success. But there is a simple way to ensure the dangers of the food industry do not become threats to your entire business: comprehensive restaurant insurance.
Just the Right Coverage
Whether you are just starting out or have been in the business for years, Colstan & Associates can provide you with the right coverage to help you protect your food service business.
Is this a new venture? Before we even start to discuss the different policies available, let us take a look at your operation from top to bottom. This will provide us with all the relevant details needed to get an accurate idea of the type of coverage you’ll need and help you make an informed decision. We’ll hand pick the food service policies we believe will best safeguard your business and go over each one with you in detail. Being better informed about what you need makes sifting through the possible policies a much easier task.
If you’ve been involved in some aspect of the food service business and already have Restaurant Insurance you may think you have what you need. Well, we can still help you make sure you’re getting the most out of your policy. We’ll carefully review your current policy, make sure you have exactly the coverage you need and create a cost-effective plan to better service your current food service insurance plan.
A Policy that Works for Your Business
If you own a home, it’s imperative that you have a Home Owner’s Policy, coverage that protects your property and personal belongings. With a Business Owner’s Policy, you’ll get that same protection for your food service business. It will provide you with three basic insurance coverages that are vital to every business owner:
1. General Liability—This type of coverage will protect your business in the event of lawsuits from parties claiming they were injured or their property was damaged as a result of your business. Examples include a person slipping while walking in your restaurant or a server causing bodily or property damage to a patron from spilling hot coffee or red wine on them. This also helps protect owners when it comes to claims of slander and libel. It’s important to remember that Business Liability insurance does not cover instances directly arising out of the professional services your restaurant may provide.
2. Commercial Property—From where your restaurant is located to your ovens, stovetops, plates, glasses and utensils, this will cover the physical location of your business and all the tools and equipment you own or lease.
3. Business Income—An important type of coverage since it helps cover any loss of income that may occur in the event you are unable to run your restaurant or business due to covered property damage.
With a Business Owner’s Policy, you will also be able to purchase numerous extra coverages, including:
• Accounts Receivable
• Fire Protective Device Recharge
• Money & Securities
• Refrigerated Food Products
• Employee Dishonesty
• Vehicle Damage to Buildings
• Business Property of Others
• Valuable Papers and Records
• Trees, Plants and Shrubs
• Credit Cards & counterfeit Money
• … and more
Colstan & Associates is Here to Serve You
We can help you understand the necessity of Restaurant Insurance and how much coverage is appropriate for your food service business. Call or click for a free, no obligation quote from our knowledgeable and professional staff.