According to the National Restaurant Association, in 2014, restaurants employed over 14 million people and achieved over $600 billion dollars in sales. Restaurants accounted for about 45% of the total dollars spent on food, and 45% of adults said restaurants are part of their daily life. This is good news for the restaurant industry because it means that there are a lot of people dining in restaurants. Unfortunately, this also means that there is an increase in the possibility of claims against restaurants.
If you own a restaurant, it will be important to have the proper restaurant insurance to keep your restaurant open should the unthinkable happen. If your restaurant, bakery, catering service, or tavern is going to have staying power, you have to build a plan for managing potential pitfalls, and that includes insurance.
Here are few of the kinds of insurance coverage your hospitality business needs to consider:
- Property Insurance
- Liquor Liability
- General Liability
- Worker’s Compensation
- Business Income Food Spoilage
- Employment Practices Liability
- Cyber Liability
- Food Borne Illness Coverage
Without insurance, you would have to pay all court costs and fines out of pocket in the event that someone files a lawsuit over an injury they sustained at your establishment.
Final ingredient for a good restaurant recipe
Train your staff on how to identify people who have had too much to drink.
The restaurant business is a very competitive and complex business that comes with uncommon exposure risks. Restaurant insurance can help protect against many liabilities and we are ready to help you.
Whether you run a small cafe or a national chain, you could be held liable for anything from contaminated or spoiled food to spilled coffee. That’s why you deserve an insurance company with commercial restaurant insurance coverage specifically designed for the risks you face.