Restaurant Insurance Overview
With the many risks involved, such as high turnover and low-profit margins, being a restaurant owner can be challenging. However, in opening an establishment, you and your family can truly call this your greatest accomplishment. Still, with all the competition out there in the restaurant industry, you have to be unique and special to get your customers to stick around. Because of the risks associated here, restaurant owners must consider some form of insurance policy to keep their assets protected.
At Cordova Insurance Agency, we understand the significant challenges small business owners face while operating and maintaining a business such as a restaurant. Whether you are the owner of a large establishment, a chain restaurant, or a small café, you can be assured your business is protected when you have taken out a Restaurant Insurance Policy with us.
Why Restaurant Insurance Is Important
It is important to understand there is no single type of Restaurant Insurance Coverage that works for all restaurants. The Restaurant Insurance Program put together by Covdova Insurance Agency comprises various solutions to keep you protected and provide you with peace of mind. The coverage can include a large variety of policies, many of which are available to other small business owners in different and related industries.
It is essential to have a Restaurant Insurance Policy in place because it can protect your investment from various losses. You could end up with a bodily injury lawsuit if someone falls on your property, or you may have medical claims filed against you if a customer states they became sick after eating at your location. Along with these General Liability Insurance examples, you can also take out insurance for property damage, Business Interruption Insurance, and Equipment Breakdown Coverage if one of your machines suddenly stops working.
Restaurant Insurance Coverage
Here are a few of the coverage options you can expect from a Restaurant Insurance Policy offered by our team here at Cordova Insurance Agency.
- Liquor Liability Coverage – A restaurant may serve alcohol, or there may be a dedicated bar area where liquor is sold. Liquor Liability helps protect a business that sells and serves alcohol.
- Commercial General Liability – Can offer protection from many other losses your restaurant may face. This coverage can include property damage, bodily injury (Slip & Falls), medical claims, and advertising injuries.
- Commercial Property – Offers protection for your premises against various forms of damage. Restaurants are likely to ensure specific types of property damage, such as damage caused by a grease fire in the kitchen, etc.
- Commercial Auto – Covers vehicles used for business purposes. This could include catering vans, or other vehicles used to conduct business on behalf of the restaurant. Commercial vehicles must have Bodily Injury Liability Coverage, Property Damage Liability, and Uninsured Motorist Coverage.
- Workers Compensation – If an employee were injured while on premises of the restaurant, workers compensation could help cover those medical costs.
- Equipment Breakdown: Covers damages caused by covered perils, such as power outages, mechanical breakdowns, operator error, and motor burnout. Equipment Breakdown Insurance also can cover the restaurant’s business computer. However, the coverage does not cover the software.
- Employer Practices Liability: This coverage protects you in the event of an employment-related lawsuit, such as wrongful termination or retaliation.
- Pollution Liability: Helps protect a business when their day to day operations cause a pollution exposure.
At Cordova Insurance Agency, we offer a number of policies related to our commercial coverage options offered to restaurant owners.
- Commercial Umbrella Insurance: Commercial Umbrella Insurance provides additional liability protection if costs due to an accident reach past what your Business Liability Policy will cover. Commercial Umbrella works with your Business Liability to add extra coverage, which amps up your insurance portfolio.
- Crime Insurance: Crime Insurance provides financial protection to commercial businesses who may be at risk of theft or fraud.
- Business Income Insurance: Helps to cover the loss of income due to a covered peril. Commonly covered hazards include fires, theft, wind, flood, and more depending on the insurance company you are with.
Areas We Serve
At Cordova Insurance Agency, we are pleased to serve the residents and business owners of Merrill, Wausau, Tomahawk, Minocqua, Woodruff, and surrounding areas. We want to be the one place you turn to for all your Commercial Insurance needs. Our variety of coverage options for restaurants and other small business owners can provide you with all the security you need to run your business efficiently with greater peace of mind.
Choosing the right type of Restaurant Insurance Coverage for your business can be difficult for many owners. The team here at Cordova Insurance Agency is available to help you learn more about your many coverage options. We can help you customize your policy so it will cover the specific needs of your business and provide you with peace of mind.
To learn more about Restaurant Insurance, contact an agent here at Cordova Insurance Agency today for more details. Our licensed professionals will be happy to answer any questions you have.