security number padAs you plan to open a restaurant, your likely goal is to run a popular, profitable enterprise. Profitability means serving a great meal to loyal customers. However, this also means preventing damages or safety risks that might cause financial harm to your restaurant.

One way to prevent excessive financial losses in your business is to carry the appropriate restaurant insurance. The best restaurant insurance policies uniquely protect your business against risks specific to them.

When it’s time to insure your restaurant, take the time to inspect the business and try to diagnose risks that are specific to your operation. Doing so can help you and your agent determine what type of coverage you need for your business.

Not all risks are readily visible. Therefore, you have to carefully scrutinize both risks that you can and cannot see. Just because something is a problem now doesn’t mean it won’t become one later on.

  • Only use appliances and cooking utensils approved for the commercial food service industry. If used incorrectly, these items may break down, spoil food or even pose a fire risk. Each of these damage scenarios raise your insurance risks. Therefore, make sure your policy addresses a comprehensive set of appliance risk scenarios.
  • Take note of security risks that threaten your business. These may include unsecured access points or a lack of a burglar alarm system. Your policy should cover theft risks specific to your local area. However, you should never neglect to install reliable security devices in the business.
  • Inspect the building’s structure and design. If you operate out of an older building, the structure, plumbing and wiring might pose hazards. The be old and worn, or simply unable to cope with the use required to run a restaurant. Failures could easily cause damage. Performing upgrades and acquainting your insurance agent with the building’s age could help you insure yourself against potential structural threats.
  • Don’t neglect to cover the restaurant with the right severe weather insurance. While restaurant policies frequently cover multiple weather damage scenarios, they often exclude others. For example, most policies will not cover flood risks. If your restaurant is in a flood-prone area, make sure you carry flood insurance.
  • Check your dining area for safety risks to your customers. Should a customer get sick or injured in your restaurant, they might seek financial compensation. Keeping them safe should be your first priority. Make sure your restaurant insurance includes liability coverage to help you protect yourself against these risks.

Never forget that you need to carry proper certifications to operate your business. This usually includes restaurant insurance, workers’ compensation coverage, and licenses to serve food.

We’ve got you covered. Buschbach Insurance can help you get the restaurant insurance coverage you need. Call us at (708) 423-2350 for more information or to get a free policy quote.

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