Restaurant insurance can protect business owners from a wide range of problems – from broken equipment to liability lawsuits. The type of insurance necessary will vary, depending on the location of the restaurant and other factors, and business owners may need to carry other insurance policies to satisfy bank loans and mortgage lenders.
The most common types of restaurant insurance available include:
- Property Insurance Protects property in case of fire or other events. Natural disasters such as floods or earthquakes may not be covered. Property insurance is often required if you have financing for your business and/or equipment.
- General Liability Insurance If, for example someone slips and falls in your restaurant or gets sick after eating there (whether it was your fault or not), general liability insurance is the umbrella policy that protects you and your business.
- Liquor Liability Any establishment holding a liquor license is required to carry liquor liability insurance, in most states. It covers you if a customer causes damages after drinking at your establishment.
- Automobile Liability It is wise to have automobile liability insurance if you have a company vehicle. Check with your insurance agent to see if it is covered in your general liability insurance policy.
- Workers Compensation If an employee is injured at work, workers compensation insurance policies cover the employer. Most states require that all employers carry some type of workers compensation insurance.
- Unemployment Insurance Business owners are covered by unemployment insurance when a former employee files for unemployment.
McGovern Insurance is an experienced insurance agency that can help with your restaurant insurance policy. Call us at (650) 593-8216.