What is Restaurant Insurance?
Owning a restaurant requires sizeable investments of both time and money. Without proper protection, one incident could take away everything that was invested in a restaurant. For restaurants businesses in Alberta, restaurant insurance provides important protections against a variety of covered incidents that could otherwise be disastrous.
Restaurant insurance policies are package policies designed to meet the unique insurance needs of restaurants. Being package policies, restaurant policies usually contain several individual policies. The individual policies that a restaurant package policy includes can be adjusted to meet a particular restaurant’s needs.
Let us “Cut Your Restaurant Insurance costs down to size!” We have special programs for General Liability, Workers Compensation, Food Trucks, and Commercial Vehicles.
Specialist commercial insurance for restaurants, bars, nightclubs, cafes, takeaways, bistros and businesses of a similar nature.
Common Restaurant Insurance Coverage
Restaurant Insurance as a whole can be pretty broad in terms of what type of insurance is actually included, especially since no one restaurant is alike in regards to potential risks. However, there are some common insurance policies that we consider must-haves when creating a restaurant insurance policy.
General Liability Insurance
Most would consider general liability to be the foundation to any insurance policy for any type of business. The main reason for having general liability insurance is to help protect you in the event of a claim made against your restaurant due to bodily injury and/or property damage to others. It also offers coverage for attorney fees and any damage your business may incur and be deemed responsible or liable for.
Commercial Property Insurance
Property Insurance is designed to cover damage to the physical assets of your restaurant in the event of loss or destruction, such as vandalism, fire, and wind damage. Furthermore there are additional assets that can be covered by property insurance. Some additional assets could include:
Commercial Crime Insurance
Crime Insurance is typically designed to help protect a business against several different types of crime. These coverages may include but are not limited to: Employee Dishonesty, Computer Fraud, Money and Securities Coverage, along with Money Orders and Counterfeit Money Coverage.
When your company supplies alcohol to consumers, in any capacity, there’s an inherent liability risk. If your business is one of the following, you need Liquor Liability Insurance:
A Liquor Bond is a mandatory requirement by New York State Liquor Authority. In order to apply for and maintain your liquor license, you will need a valid liquor bond. Generally a liquor bond will be written to be in sync with your license period and requires no underwriting, or credit checks. You simply fill out a form on our site, submit payment, and you are done.