Get Covered For Unforeseen Damages With Restaurant Insurance
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Posted On :
Nov-30-2011
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Article Word Count :
531
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Owning insurance, whether for business or personal needs, is extremely important. Avoid taking risks with what you've worked so hard for. This informative article explains two kinds of insurance you can't do without.
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What exactly is insurance and why do we need it? Basically, it is the payment of a small predictable sum of money that protects you against a bigger unpredictable expense. Instead of being forced to fork out more cash to cover your losses, an insurance provider will do this for a fee.
Two kinds that people cannot do without are restaurant insurance and condo insurance.
In case you are opening a restaurant, find out about the business end of things as much as you about your menu. You will find different types of restaurant insurance coverage that may protect your investment. Below are some worth taking into consideration.
Property insurance is the first one to look into. This covers the value of your physical space as well as its content, in case of a blaze or some other disaster. Be aware, however, this does not include floods. If you happen to reside in a flood prone area, it is best to ask your provider whether there is a provision for this.
Liability is an additional one worth mentioning. This general restaurant insurance plan covers you in case a guest slips on a banana peel and breaks his leg or suddenly becomes ill while eating the food you serve.
One important type you really need is liquor liability. If your restaurant has a bar, this is a must-have. You will never know when the next fight could start or the next customer could hurt himself. This insurance coverage is a requirement for licensing.
The key restaurant insurance you must sign up for is for food contamination. Each time a power outage occurs, chances are the food items inside your freezers and coolers may spoil. Losing your entire inventory can cost you thousands. If you are living in a place that gets a large amount of thunderstorms and strong winds, this is something you truly need.
For those who reside in high-rises, condo insurance is also necessary. Just like policies for restaurants, there are numerous variations to be found.
The very first is the Master Policy Coverage. This covers the general areas, grounds, as well as the building itself. It provides coverage in case anyone is hurt inside the public areas of the building. What it really does not cover is exactly what goes on inside each and every condo. These are generally loss of items, damage to personal property, or injuries sustained in the unit.
To get covered for damages that occur inside your condo, private insurance policies are what you need to sign up for. Items in your home, in addition to occurrences of natural events, will also be included here as well. Exceptions to this fact are earthquakes and floods. These will require you to sign up for another policy.
On a final note, one beneficial form of condo insurance would be the add-ons. This can be extremely beneficial in case an object of great value was stolen from your home. For example, if thieves took your brand-new laptop, your insurance provider are going to pay you the amount to cover the replacement costs.
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Article Source :
http://www.articleseen.com/Article_Get Covered For Unforeseen Damages With Restaurant Insurance_112436.aspx
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Author Resource :
Mary Fonesca really wants to buy business insurance but in particular, condo insurance.
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Keywords :
restaurant insurance, condo insurance,
Category :
Finance
:
Insurance
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