What Insurance Coverage Does Your Restaurant Need

Types of Insurance You Need For Your Restaurant

Opening a restaurant can be an exciting venture. Like any business, you want to protect your investment with business insurance Newark DE should something unforeseen happen, like a grease fire or food contamination.

First and foremost, make sure to check local and state laws for restaurant insurance coverage requirements. Most states require restaurants to carry workers’ compensation, unemployment insurance and automobile liability insurance.

Here are some other common coverage types for restaurant owners:

General Liability

A general liability policy is an essential protection from lawsuits if someone sues you after being injured on the premises or getting sick after eating at your restaurant.

Liquor Liability

If your restaurant holds a liquor license, state law may require you to carry liquor liability insurance. This coverage guards you against lawsuits if an intoxicated customer gets in an accident and injures someone or damages property.

Property Insurance

This coverage protects what you own, including furniture, kitchen equipment and the building. If you lease the space, your landlord may have property insurance, but you are still responsible for insuring the contents of the restaurant. Natural disasters like earthquakes and floods aren’t usually covered, so look into getting additional insurance for that.

Workers’ Compensation Insurance

Most states require this to protect your employees from lost wages because of illness or work accidents. Employer’s liability insurance is included in most policies to cover your legal costs in workers’ compensation lawsuits.

Food Contamination Insurance

This coverage provides peace of mind in the event your food is contaminated due to a loss of power or other unforeseen circumstances.

When deciding to take the plunge and open a restaurant, make sure to talk to a trusted insurance agent. An agent can go through the local and state law requirements on what insurance to carry and how much coverage to have.

Related Posts

Hedge fund trading strategies: Tactics used by top professionals

Hedge funds, often associated with sophisticated investment strategies and managed by top-tier professionals, play a crucial role in global financial markets. These funds employ diverse trading tactics,…

How To Make Cash In Grand Theft Auto V

When you’re searching for ways to earn a living online, you’ve come to the precise place. CashCrate has over 1.5 million members who’re doing just that, and…

What Is A Mortgage Type And How They Work And Examples

Mortgages allow borrowers to buy homes without paying for the entire property upfront. Instead, they typically include a fixed or variable interest rate and require a down…

Convection Is An Interesting Business Idea But Has Disadvantages

The convection business is an effort to mass produce all kinds of clothing. In a way, the convection business enters into a business that promises multiple profits….

How to Create a Mold Removal Company in Cary

Mold removal in Cary professionals agrees molds are a widespread problem that can happen in any home or business. They are a natural part of the building…

The Pros and Cons of Working With An EOR (Employer of Record)

If you are planning to expand your business globally, or if you need to conduct business in another country, using an Employer of Record, or EOR, is…