A Restaurateur's Guide to Restaurant Insurance

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A Restaurateur's Guide to Restaurant Insurance

Posted On : Jan-31-2012 | seen (817) times | Article Word Count : 587 |

Running a restaurant is lots of work. There are numerous aspects to consider on a day-to-day basis, and safeguarding your establishment is one of them. By purchasing restaurant insurance, you have got one less problem to worry about.

Owning and operating a restaurant calls for a lot of work. A lot of elements need to come together for a restaurant to be successful. If you think it over, a stocked freezer and pantry and ensuring that there are more than enough tables in the dining area are only the basics of operating this sort of enterprise. Your primary concern as a restaurateur ought to be the protection of your business. Regardless of whether you're just about to venture into the food and beverage industry or have already been established, restaurant insurance is something you have to have.

What is restaurant insurance?

This is the type of business insurance catering particularly to the ones in the food and beverage industry. Whatever the size of your company, there are always a variety of possible risks. This is true whether you manage a small diner or coffee shop, or a Michelin-starred bistro. This insurance plan serves as protection against a number of problems, which may include but aren't restricted to broken machines, mishaps, as well as liability lawsuits.

One component worth mentioning is that this type of cover is not your average general business insurance. It consists of many factors that tailor to the demands of a restaurant. Examples of the standard covers include:

General Liability

This is actually the most common of the many different covers encompassing this type of insurance package. It is a plan that protects you from typical problems occurring in your line of work. This can consist of situations such as someone slipping and falling due to wet floors, food poisoning issues, as well as other claims that may come from a variety of sources. This insurance policy comes in handy considering the fact that patrons sue for almost anything these days. Plan options vary according to provider, but keep in mind that this ought to be one of the most flexible policies.

Property Damage Insurance

This insurance policy provides protection against fires, or other events that may cause damage to your establishment. Although natural disasters like floods and earthquakes might cause the same type of damage, they are generally not included in a standard coverage. Most policies also cover furniture, fixtures, or inventory stored within your establishment. Depending on your provider, you can insure these items for a replacement cost or actual cash value.

Business Income Interruption

Another potential risk of operating a restaurant is shutting your doors on account of unforseen events. This is the reason behind this insurance policy - to safeguard your income stream in the case of a loss of revenue or severe damage to your establishment. Fires, water damages, along with other risks certainly are a reality; and this policy addresses your lost revenue at that time your restaurant undergoes repairs and reconstruction. It is a type of overall protection during your time of need.

Do an exhaustive assessment of your enterprise prior to obtaining restaurant insurance. Accomplishing this may help you determine which policies you need. Aside from the three typical policies, others you may be interested in include liquor, automobile, and employment practices liability, worker's compensation, and food contamination insurance. Look into what your business will demand of you in the future to help make the proper decisions. It will also help to look into the options provided by the various providers. See which premiums work and don't work in order to figure out the best choices for your company.

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<h1>A Restaurateur's Guide to Restaurant Insurance </h1> Author: <a href='http://www.articleseen.com/profile_MaryFonesca.aspx'>MaryFonesca</a> Owning and operating a restaurant calls for a lot of work. A lot of elements need to come together for a restaurant to be successful. If you think it over, a stocked freezer and pantry and ensuring that there are more than enough tables in the dining area are only the basics of operating this sort of enterprise. Your primary concern as a restaurateur ought to be the protection of your business. Regardless of whether you're just about to venture into the food and beverage industry or have already been established, restaurant insurance is something you have to have.

What is restaurant insurance?

This is the type of business insurance catering particularly to the ones in the food and beverage industry. Whatever the size of your company, there are always a variety of possible risks. This is true whether you manage a small diner or coffee shop, or a Michelin-starred bistro. This insurance plan serves as protection against a number of problems, which may include but aren't restricted to broken machines, mishaps, as well as liability lawsuits.

One component worth mentioning is that this type of cover is not your average general business insurance. It consists of many factors that tailor to the demands of a restaurant. Examples of the standard covers include:

General Liability

This is actually the most common of the many different covers encompassing this type of insurance package. It is a plan that protects you from typical problems occurring in your line of work. This can consist of situations such as someone slipping and falling due to wet floors, food poisoning issues, as well as other claims that may come from a variety of sources. This insurance policy comes in handy considering the fact that patrons sue for almost anything these days. Plan options vary according to provider, but keep in mind that this ought to be one of the most flexible policies.

Property Damage Insurance

This insurance policy provides protection against fires, or other events that may cause damage to your establishment. Although natural disasters like floods and earthquakes might cause the same type of damage, they are generally not included in a standard coverage. Most policies also cover furniture, fixtures, or inventory stored within your establishment. Depending on your provider, you can insure these items for a replacement cost or actual cash value.

Business Income Interruption

Another potential risk of operating a restaurant is shutting your doors on account of unforseen events. This is the reason behind this insurance policy - to safeguard your income stream in the case of a loss of revenue or severe damage to your establishment.  Fires, water damages, along with other risks certainly are a reality; and this policy addresses your lost revenue at that time your restaurant undergoes repairs and reconstruction. It is a type of overall protection during your time of need.

Do an exhaustive assessment of your enterprise prior to obtaining restaurant insurance. Accomplishing this may help you determine which policies you need. Aside from the three typical policies, others you may be interested in include liquor, automobile, and employment practices liability, worker's compensation, and food contamination insurance. Look into what your business will demand of you in the future to help make the proper decisions. It will also help to look into the options provided by the various providers. See which premiums work and don't work in order to figure out the best choices for your company.

About the Author: Mary Fonesca is a first-time restaurateur researching the different <a rel="nofollow" href="http://www.fhia.com/">business insurance</a> options, particularly <a rel="nofollow" href="http://www.fhia.com/fhia/restaurant.cfm">restaurant insurance</a>. Article Source: <a href='http://www.articleseen.com/Article_A-Restaurateurs-Guide-to-Restaurant-Insurance_141828.aspx'> http://www.articleseen.com/Article_A Restaurateur's Guide to Restaurant Insurance _141828.aspx</a>

Article Source : http://www.articleseen.com/Article_A Restaurateur's Guide to Restaurant Insurance _141828.aspx

Author Resource :
Mary Fonesca is a first-time restaurateur researching the different business insurance options, particularly restaurant insurance.

Keywords : business insurance, restaurant insurance,

Category : Finance : Insurance

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