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The 5 Kinds of Insurance Your Restaurant Should Have

Some aspects of opening a new restaurant are more enjoyable than others. For instance, planning what your restaurant will look like and what sort of menu you’ll be putting together are probably more enjoyable than figuring what kind of insurance your business will need.

While buying restaurant insurance may not be the most exciting thing in the world, that doesn’t mean it has to be confusing or frustrating. At Cameron Group Insurance, Inc., we have 31 years of experience of servicing the insurance needs of restaurants and other businesses which can help you navigate the ins and outs of insurance for your new restaurant, saving you the worry and hassle of trying to figure it out alone.

In the meantime, we’ve compiled a list of the five types of insurance that restaurant owners typically need. If you have any questions or concerns, give Cameron Group Insurance a call at 845-627-2130.

1. Business Owner’s Policy (BOP)
This incorporates both General Liability Insurance and Property Insurance. Property Insurance will cover any expenses incurred if fire, storms, or vandalism damage your restaurant’s property, while General Liability Insurance, as the name implies, covers you in case any patrons suffer an accident while on your property, such as slipping and falling on a wet floor, and will protect you from injury or negligence claims.

The General Liability Insurance also covers you if a customer suffers a food-related illness. Though you should certainly minimize the risk of food poisoning as much as possible, accidents can still happen, and you will need the right insurance if they do.

2. Workers’ Compensation Insurance
Unless you live in Texas, this is required everywhere. If one of your employees is injured while on the job, then workers’ comp insurance will cover any legal or medical bills and rehabilitation expenses, and will reimburse the wages for lost hours.

3. Commercial Auto Insurance
If your restaurant makes deliveries, you need to have non-owned Auto Liability endorsement on your Business Owners policy in case of an accident, as private auto insurance will not cover commercially used vehicles.

4. Loss of Income Insurance
Loss of Income Insurance serves as a backup plan for restaurant owners who find themselves unable to open their doors due to an insurance claim. Such things can cripple a business without the proper insurance coverage, making Loss of Income Insurance a must-have for any restaurateur.

5. Liquor Liability Insurance
New York law requires all establishments that serve alcohol to possess Liquor Liability Insurance, and for good reason. Many states hold establishments responsible if they provide alcohol to an intoxicated patron who later causes an accident or injury.

Are you interested in learning more about how the Cameron Group can help you protect your business? Reach out to us today by calling 845-627-2130.

Donna