A fire accident can raze your entire restaurant. Customers might also accuse you of food spoilage. Then, your catering services might get involved in road collisions. Sounds threatening, right? Yet, there is a possibility you might encounter one of them in the future.
The question now is your preparedness. Considering the varying risks to come, one should buy restaurant business insurance. But, what exactly it is?
Understanding Restaurant Business Insurance
Restaurant insurance is like general contractor insurance. Both protect against existing risks. Yet, this one is exclusive for resto.
Many risks can put your resto at stake. They range from unforeseen circumstances to man-made ones. So, preparedness for them is a must. Having restaurant-based insurance coverages is the solution. It covers unexpected losses that could end your entrepreneurial career.
Types of Insurance Your Resto Must Have
General Liability Insurance
Are you worried about property damage, repairs, or legal fees? If yes, genera liability insurance is the primary means to solve them. Most well-known and established companies can buy this insurance. Well, to avoid any significant legal fees and payout minimal costs.
Commercial Property Insurance
Retail shops or home-based enterprises can benefit from this insurance type. Commercial insurance covers property, space, inventory, and other assets. Thus, making it essential for every company to buy one for themselves.
Worker’s Compensation Insurance
From its name, this insurance covers the expense of your employees in case of emergency. It offers coverages for work accidents, illnesses, and lost wages. Whether your state requires this or not, you still need to buy it. Having worker’s comp by your side can be reassuring for your staffer. They know that you care and value their lives.
Food and Beverage Insurance
Restaurants avail this insurance because of incidents often associated with food and drink. Besides, it is also a good option if you have pickup or delivery operations. This insurance coverage covers the compensation for road accidents.
Contact ISU Armac for the best insurance offers for your restaurant and other businesses. You may call our main number, (760) 241-7900, or fax number, (760) 241-1467, or email us at email@example.com to inquire.