It’s tough to run a successful restaurant anywhere, let alone in Massachusetts where there’s an abundance of good eateries. Your goal is to provide excellent service, great food and an overall fantastic experience for your customers without being bogged down by the details of what could go wrong. Restaurant insurance helps protect you against the risks you face as a restaurant owner. We’re here to help.
Areas to consider in determining restaurant insurance coverage:
– People: your customers AND your employees
– Food: food can spoil, make people sick, and certain licenses may be required
– Property: the building, your delivery vehicle and your furnishings
– Equipment: hard to operate without it, but it sometimes breaks down
– Accidents: long hours and (hopefully) lots of customers means an increased risk of an accident, let alone acts of nature that may damage or interrupt business
Insurance coverage for restaurants can include:
General commercial liability: Liability coverage is vital in case something happens in your restaurant that injures a guest, employee or other visitor. General commercial liability typically covers four main areas: property damage, personal injury, bodily injury and advertising injury. General commercial liability can also cover the cost to settle or defend claims.
Workers compensation: All employers in Massachusetts are required by state law to carry workers compensation coverage in case an employee is hurt at work.
Commercial property: Coverage for the building and contents from perils such as theft, fire, and natural disasters. Of course, if you are renting your restaurant space, be sure to consult the building policy as this would factor in to the choices made when purchasing a restaurant insurance policy.
Business interruption: Business interruption insurance can be as vital to your survival as property insurance. If, for example, you close temporarily after property damage, this coverage can provide for expenses and lost income.
Restaurant insurance for vehicles: Protect your restaurant and your employees with commercial auto coverage. Many of the common types of personal car insurance coverage can apply to your commercial auto insurance policy as well, for example, property damage, bodily injury liability, medical payments, comprehensive, collision, personal injury protection and uninsured or under insured motorist, to name a few.
Equipment breakdown: This coverage applies to specific major equipment, such as boilers, ovens or other kitchen investments. Coverage can apply for the cost to repair or replace the restaurant equipment and any other property damaged by the equipment breakdown.
Glass & sign coverage: Your sign and storefront are essential to keeping your restaurant open and running smoothly. Glass and sign coverage for restaurants can cover the expense or defray the cost of damaged windows, doors or signage.
Liquor liability: Any restaurant that sells, serves or assists in the purchase or use of liquor, also opens its doors for a possible liability claim for injuries or property damage. Restaurant owners are required to have a minimum amount of mandatory liquor liability insurance coverage in Massachusetts. Existing licensees and new applicants must file a certificate of insurance as proof of mandatory insurance coverage.
Food spoilage coverage: Not every restaurant needs this type of coverage, but it is especially helpful if dealing with a large perishable inventory. Winters in Massachusetts can bring severe storms and extended power outages.
What do a coffee shop, pizza parlor, and a fancy French bistro all have in common? They could all be shut down by equipment malfunction or a lawsuit from a customer who falls inside the establishment. Most falls on a level surface don’t result in a recordable injury, perhaps a bump or bruise, but sometimes these falls can cause more serious injuries. Circumstances like these make your restaurant insurance policy vital to the success of your business.
Guard Insurance Agency has been serving restaurant owners since 1983. Together we will customize an insurance policy for your restaurant and make sure it has, as the finest ingredients, the right coverage and great cost savings.
For this matter and all insurance related questions and decisions, keep in mind that your policy is unique and must be specifically reviewed. Please always review your policy and consult with your insurance representative.