Owning and operating a restaurant is challenging, but, when successful, very rewarding. However, it is important to protect your business from the many hazards that may befall a restaurant. Having the right insurance coverage allows you to concentrate on making your business the best dining choice in the area.
General Liability: Protecting against claims for diner or vendor personal injury and property damage is a “must.” Consider limits of $1 million per incident, although you can evaluate quotes for higher limits. Medical payments coverage should be around $5,000 per person.
Property Protection: Whether you own or rent your location, you need protection for various hazards, including crime, spoilage, natural disasters and your signs, at a minimum. If your facility has strong ambiance, you could add coverage for losses to your fine arts and expensive accessories. Depending on their value, consider limits up to $25,000. Lost business income coverage is a prime component should you face “suspended operations” because of a covered hazard loss.
Business Personal Property: You want on- and off-premises coverage, particularly if you offer some catering services or attend trade or public shows. Include coverage for employee theft of money or securities, including forgery.
Other: Consider additional endorsements that cover specific eating establishment hazards when you need it.
If you own a restaurant in the Tarrytown, Westchester, New York area, contact Allan Block Insurance for affordable quotes and valuable advice for protecting your business. Advising area clients since 1959, Allan Block Insurance professionals understand the hazards and coverage for restaurants of all types. Call the agency today to protect your restaurant properly.