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What every restaurateur should know about restaurant insurance
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Posted On :
Jan-20-2012
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Article Word Count :
596
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When putting up a restaurant, you should get a good restaurant insurance that could cover your expenses when accidents take place. It will help minimize cost and at the same time makes sure that your business retains its profits.
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Every successful restaurateur is aware that good business insurance come in handy when unexpected incidents arise. For them, getting restaurant insurance must come naturally with setting up a restaurant. If you are intending to open a small cafe or bistro, below are a few pointers to keep in mind.
Why must business owners get business insurance?
Business insurance covers expenditures when accidents arise. While owners are invariably cautious of fires or robbery, its likelihood of happening are ever present. Other examples of unexpected incidents are leaking gas lines in the premises and an open stove left open. These could trigger combustion and cause property damage and serious injuries. Another example is a case of a displeased employee who might plan to steal because of revenge.
Getting business insurance will protect your business from more losses. With insurance money on your hand, you can get rid of all possible hassles. Spending money out of your own income won't be needed. You are free to recoup losses or rebuild structures as required without spending away your capital.
Why get a restaurant insurance?
One great way of understanding it is a person with eye problems going to an optometrist, and not just a general physician. The same principle applies in business settings. You don't just need general insurance; you will need restaurant insurance for your establishment. Without it, you may not get full coverage and even the needed permits to start your business.
There are lots of disadvantages if you don't have the proper insurance. The odds of not getting adequate compensation are high. This may bring about massive losses for you. The worst case scenario is you might never recover from your losses and you'll find yourself filing for bankruptcy.
Employer liability insurance 101
Employer liability insurance is an important coverage when running a restaurant. This is really a prime necessity for restaurants.
This sort of plan handles incidents which happen to employees while they are at work. For example, it might cover medical expenses for injuries received by a chef or server while performing their duties. Sometimes, it also gives payments for death.
What is public liability insurance?
Public liability insurance refers to policies that protect the restaurant owner in situations where a person is injured due to negligence. It is a necessary coverage in a business that is responsible for serving food.
Incidents that involve food contamination and kitchen fires can happen anytime. For example, your chef forgets that some of the meat has gone bad due to food contamination. Customers who have eaten your dish might get food poisoning and file for a lawsuit. One more possible scenario is if the restaurant burns as a result of defective gas pipes and cause property damage to surrounding structures. Neighboring property owners could end up filing for cases, too.
You could end up losing everything in both situations. Without good restaurant insurance, you have to pay from the pocket to hire attorneys who could defend you. Legal help and consultation can cost you money. While your legal battles continue on in courts, your company slowly loses profits. Obtaining good restaurant insurance, however, stops this from happening.
Learning all about restaurant insurance coverage is just a part of the process. The next is getting it from a good provider. When you start seeking a good provider, you must assess the costs and terms carefully. You will need to hold on to something that will shield you from every possible situation.
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Article Source :
http://www.articleseen.com/Article_What every restaurateur should know about restaurant insurance_136839.aspx
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Author Resource :
Mary Fonesca is a restaurateur who knows the benefits of business insurance and is considering getting a restaurant insurance.
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Keywords :
business insurance, restaurant insurance,
Category :
Business
:
Business
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