Office: 905-565-5565 Ext 120
Go ahead — you’ll be safe. We’ve got your insurance covered.
When you open a Restaurant, which requires a large time and money investment, Insurance for the Restaurant is what will protect you in the event that something unforeseen were to happen.
The following are the types of things that you should consider when buying Insurance for your Restaurant:
Property insurance: to protect your physical assets such as building, stock, equipment and computers, including equipment removed from your premises.It includes standard coverage for loss due to fire, theft or vandalism and covers the cost to rebuild or repair business property.
Occasionally, Restaurant managers and employees may use their own cars to run errands and make bank deposits.
Boiler and Machinery: Equipment Breakdown
The Following Hospitality Businesses: Family Style Restaurant Insurance Fast Food Restaurants Insurance, Fine Dining Restaurant Insurance,Bed & Breakfast Inns Insurance,Bowling Alleys,Bingo Halls,Drive-in,Country Inns Insurance ,Coffee Shops Insurance,Catering Companies Insurance,Pubs & Bars,Taverns,Swinger Club,Night clubs,Exotic dancers,Cabarets,Hotels, Motels, Resorts and Karaoke Clubs,will have Boiler and Machinery exposure because they rely heavily on refrigeration equipment to store food and keep it from spoiling.
Heating and air conditioning equipment will also need coverage for breakdowns.
Typically, a restaurant will have $25,000-$50,000 worth of food in stock. If there is an electrical failure there may be significant food spoilage.
The Business Interruption exposure for restaurants will be substantial because damage caused by a fire or flood may shut the business down for a long period of time or permanently. The period of interruption depends primarily on the extent of damage to the kitchen and storage area.
The Crime exposure for restaurants will be significant due to burglary, robbery, and employee dishonesty. Because many restaurants operate late at night and have considerable amounts of cash on the premises, they are attractive targets for thieves.
The risk of death from fire will be an important exposure for a restaurant.
Slips, trips, and falls occur commonly. (Slips, trips and falls may result from floors made slippery by spilled food or liquid)
Liability exposure to your restaurant from waiters or waitresses who may spill hot dishes or beverages on patrons, causing burns or damaging the patrons’ clothing. A patron may choke on food while in the restaurant.
Product Liability exposure because of the high risk of food poisoning which is due to the increased outbreaks of food borne illnesses such as Escherichia coli (E.coli) and salmonella. Allergic reactions to foods can also lead to claims.
Distribution or sale of liquor. Under the standard CGL, coverage is excluded if the insured is in the business of serving alcohol.
Office: 905-565-5565 Ext 120
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