Owning a restaurant is about more than buying supplies, cooking food, and creating a great menu. It requires the owner to strike a balance between business skills, customer service, and culinary aptitude to be a success. When a restaurant owner wants to protect their investment and the years of work they’ve done, business insurance is a necessity. However, it can be difficult to determine what type of coverage is needed. Every restaurant owner should Browse the website to buy the coverage that suits their needs, but there are common coverage types that all owners should consider.
Liability Insurance
General liability coverage is a common type of insurance, especially in today’s litigious society. Liability insurance protects the business owner from claims and lawsuits arising from damage to a client’s property and injuries to guests. For a restaurant, this type of commercial insurance covers claims like slip-and-fall injuries and food poisoning.
Property Insurance
Of all the policy types available to restaurant owners, property insurance is another imperative. If a chef starts a kitchen fire, the restaurant’s property coverage pays for repairs. This type of insurance can cover risks such as theft, floods, earthquakes, and explosions, and it covers the building and all its contents. A Commercial Insurance Agent in Milwaukee Wisconsin can recommend the right amount of property coverage.
Liquor Liability Coverage
A restaurant with a liquor license is legally required to have accompanying liability insurance. Liquor liability coverage protects the restaurant owner from responsibility for intoxicated customers’ actions after they leave the establishment.
Food Contamination Coverage
Supplies such as food are the main ingredients in any restaurant. When power outages occur, food can spoil quickly. Food contamination insurance pays to replace food that’s spoiled as the result of a power outage or similar occurrence.
Worker’s Comp
Most jurisdictions require companies with non-owner employees to have worker’s comp insurance. This coverage pays injured workers’ medical bills and lost wages that occur due to a permanent or temporary disability.
Income Interruption Coverage
When an earthquake, flood, or fire occurs, many businesses must close during repairs. Business interruption coverage from Business Name. protects restaurant owners by paying the bills while repairs are being done.
No matter what type of accident happens, commercial insurance is important. Restaurant owners should consult a Commercial Insurance Agent in Milwaukee Wisconsin, to learn which policies and coverage amounts are best for their businesses and their budgets.
