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It is important for restaurant owners to carry an insurance policy. The landlord policy normally cover the structural elements of the building, not the tenant improvements that you have made to the interior space, in order to make it a functional and attractive dining experience. If major damage were to occur inside of your business, you would be responsible for all repairs. A Restaurant insurance policy protects your business assets.
What does Restaurant Insurance Policy Cover?
If you own a Fine Dining Restaurant, family restaurant, franchise restaurant, banquet hall, or party center, our restaurant insurance package policy protects all these elements inside the walls of your premises. This Restaurant Insurance policy covers the following:
- Improvement & Betterment – this policy covers all the improvements or alteration made to the restaurant by you. This coverage is important as your total investment can range from $150,000 for a small family restaurant up to a million dollar for a fine dining establishment. Tenant improvements include the functional items it takes to run a restaurant such as your freezers, commercial stove, hood, along with the furnishing and flooring.
- Restaurant Business Property coverage protects your restaurant property from theft, Hurricane damage, fire, high wind, vandalism and more. If your restaurant contents are damaged for some reason due to a named perils, this restaurant insurance policy does guarantee restoration of your business property.
- Food Spoilage Additionally, your policy cover food spoilage due to a power outage or equipment breakdown, along with legal and health care cost in the event of food contamination.
- Loss of Income if a disaster happens and you have to close your restaurant to make repairs, this policy can pay for your loss of income normally up to 6 months. For example, the loss of income coverage can help you make the lease payment, utility expenses and pay employees the weekly wages that you owe them. This money can make a difference between going out of business or reopening after the repairs are completed.
- Restaurant Liability business owners have to worry about unexpected lawsuits. This policy is necessary for restaurants serving alcohol. If someone has a slip and fall accident, get injured on your premises, or become sick after eating your food, they could file a lawsuit and seek damages. The best way to defend yourself is, simply obtaining a general liability insurance policy. This policy pays the damages awarded by the court and provide you with a local defense lawyer to represent you in the court.
- Liquor Liability Insurance you may also want to request additional liquor liability insurance coverage, if customer drinks too much alcohol and ends up hurting themselves or someone else, losses might fall back on your business for serving excessive alcohol.
Check Our Optional “A-LA-CARTE” Coverage
Don’t put yourself, your business or your savings at risk by running a restaurant without a commercial Insurance policy. You work too hard to let an unexpected disaster or unfortunate accident take it all away. We are here to protect your investment and help you stay in business.
Additional coverage is available such as equipment breakdown, employee theft or dishonesty, outdoor sign coverage, workers compensation and more. Our local insurance agents have helped restaurant owners like you save on average 10%-15% off their current premium. For a complimentary restaurant insurance quote located in Broward, Miami-Dade, and Palm Beach counties, call G. Zein Insurance Services now at (954) 454-9599 or (866) 454-9555.