image of diners in an illinois restaurant

It’s not easy running a restaurant. You have to see to client satisfaction. You must meet health and sanitation safety codes. You have to protect employees, maintain your property and keep your kitchen in order. This is not the sort of business for the faint-hearted.

Most restaurant owners know that turning a profit means constantly being at the top of the game. Usually, there is not a lot of room for error. So, when a problem occurs that means money out of pocket, what can you do? With business insurance, you can likely worry a little less. Restaurants need various forms of coverage to help them stay in business and in the clear.

What Coverage Does Your Restaurant Need

Insuring a business doesn’t mean simply getting one policy. It often means investing in various degrees of specialized coverage.

At times, restaurants can invest in what’s called a business owner’s policy, or BOP. It contains several forms of coverage to protect different aspects of the business. The more specific you make your BOP, the better it can protect your assets. Ensure that your coverage includes:

  • Property insurance: Can help pay for damage to your building and certain possessions. Policies often cover fire, theft, weather and other types of damage.
  • Liability protection: Injuries or accidents in the restaurant could harm your customers. They might slip and fall on a wet floor, or consume undercooked food. Use this coverage to compensate them for their losses.
  • Business interruption coverage: Helps in case the restaurant has to close temporarily. This coverage can make sure you won’t lose out on profits due to lack of operations.

While good starting points, BOPs might not contain all the coverage restaurants need. So, ask your agent if you need to add extra coverage or enhance the policies in the BOP package. For example, you might need:

  • Workers’ compensation insurance to cover the income of employees hurt on the job.
  • Food spoilage protection to help you replace damaged stock.
  • Equipment breakdown coverage for times when certain machinery experience failures.

So, when you start looking at insurance, look first at the variable items of coverage offered by a BOP. Check the limits and exclusions of the policy to see how they might affect the restaurant’s assets. If you find out that there are limits to your BOP, ask your agent by calling 708.423.2350 how you can enhance your coverage. They will gladly help you find effective, affordable solutions. 

More Information: Serving Liquor in Your Restaurant

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