silverware on tableAs a restaurant owner, you have to wear many hats on a daily basis to keep the kitchen and dining room running smoothly. Because they stay so busy, it’s no surprise that many restauranteurs aren’t entirely familiar with the details of their insurance policies. Purchasing restaurant insurance is a great start, but it's also important to ensure that your policy comes with all the coverage you truly need.

A very common coverage gap for restaurants involves outdoor signs and awnings. However, the way to handle adding these items to your policy depends on whether your business owns or rents the building it resides in.

If You Own the Building

Total up the value of signs and awnings that are permanently attached to the building. This value can then be added to the property coverage portion of your restaurant insurance policy. Free standing signs will need to be specifically added to the policy, rather than bundled with all business property. Generally, each free standing sign will be listed individually and covered up to a limit that is established per sign.

If You Rent the Building

Even if you rent the building, your business has paid for the signage and awnings. You can add these items to your restaurant insurance policy by adding a particular type of coverage called tenant’s betterments and improvements. This coverage also applies to other permanent features and fixtures, like a paint job or new carpeting installed on your business’ dime. The value of these items should be totaled up to determine the amount of coverage you’ll need to add to the policy.

Still have questions? Your independent insurance agent can address your concerns and help you find the coverage you need to operate your restaurant with peace of mind.

Are your outdoor signs covered? Call Buschbach Insurance Agency at (708) 423-2350 for more information on Oak Lawn restaurant insurance.
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