Napkin on PlateRunning a hospitality business can be a rewarding career, especially when you see satisfied customers' reactions to their experiences. But like any business, the hospitality industry faces risks that should be addressed before they crop up. One great way to gain financial protection for your business is to purchase a hospitality insurance policy.

While your independent insurance agent can assess your business' unique needs to find you a suitable policy, most hospitality insurance policies come with a few standard coverage options. A few of these are mentioned below.
  • Property Insurance: From the building structure itself to the intricate table settings, your business' assets are of great value. If bad weather, theft or another covered incident causes a property loss, it could be quite expensive to replace what was lost. Property coverage offers the financial protection necessary to protect your business' assets.
  • General Liability Insurance: Hospitality businesses are open to numerous customers, exposing them to certain liability risks. If a guest should become injured or experience property damage, general liability coverage can cover these expenses so your business doesn't have to pay out-of-pocket.
  • Liquor Liability Insurance: If your hospitality business sells or serves alcohol, it opens up even greater liability risks resulting from intoxication. Much like general liability coverage, liquor liability coverage protects against sustained injuries and damages — with the caveat that liquor is involved.
  • Commercial Auto Insurance: Catering and valeting are staples of many hospitality businesses. If your business owns or rents any vehicles, they will need to be insured. The necessary coverage will depend on the types of vehicles and services you provide.
Find out how additional coverage options can benefit your hospitality business by contacting your agent today.

We'll help you find the right policy. Call Buschbach Insurance Agency at (708) 423-2350 for more information on Chicago IL hospitality insurance.
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