subject: RESTAURANT INSURANCE: How Many (Insurance) Covers Do You Need To Stay In Business? [print this page] RESTAURANT INSURANCE: How Many (Insurance) Covers Do You Need To Stay In Business?
What's on the menu for today? Restaurant insurance? It may not sound too appetizing but without it you could find your goose well and truly cooked. Alright, enough of the puns, but there's a serious point here.
Running a restaurant can be a risky business. However careful you are, there's always a possibility of food poisoning and that could lead to an expensive claim against you. Even if it wasn't your fault (maybe the customer had simply had too much to drink) you could still be landed with a hefty lawyer's bill just to prove the point.
But with public liability included in your restaurant insurance, you'll be covered for both legal expenses and the cost of any compensation award.
Kitchens are notorious fire hazards. As are burning candles. Even if brought under control quickly, fires can cause significant (and expensive to repair) damage to furniture, fittings and dcor. So you want to think about contents insurance too.
And what about the value of the food in your freezers and refrigerators? If equipment failure or a sustained power cut ruined it all, how would your budget stand up to the cost of replacing it? Or suppose a break-in left your wine cellar somewhat short of the pricier vintages? When you're thinking about insurance for restaurants, you can't afford to ignore your stock.
Even though more of us are making more plastic' transactions these days, plenty of people still prefer to pay with cash when they're out. Bearing in mind that you can't keep your eye on everything and everybody all the time, having a lot of cash on the premises - even for a short time - is an obvious risk. So you might well want to have loss-of-money cover built into your restaurant insurance.
And don't forget that all employers are required by law to have employers' liability insurance. Even if your staff are only casual or part-time.
Yes, there's a lot to think about. And yes, running a restaurant can be risky. But, as you know, it can also be a richly rewarding experience. Make sure you keep it that way. Don't let any accidents or mishaps close you down. Just follow the link to find out more about insurance for restaurants.
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