Owners of restaurants have invested a lot in their businesses, and the investments they’ve made ought to be protected whenever possible. Restaurant insurance offers Massachusetts restaurateurs an array of coverage that help protect against potential risks.
Restaurant insurance is a specially designed commercial insurance that’s uniquely crafted for restaurants. Most policies offer multiple coverage that work together to create a web of protection.
Most dining establishments in Massachusetts could benefit from having a restaurant policy that provides robust coverage. This may be an appropriate insurance choice for sit-down eateries, fast food businesses and other brick-and-mortar businesses that serve food.=
Select businesses might need many of the restaurant liability insurance and other protections that a standard restaurant policy offers, but actually be better off with a slightly different form of commercial insurance. For example, breweries, bars, nightclubs, food trucks and caterers might want to get a policy that’s more specifically designed for them. Such policies are often widely available.
Any business that’s unsure whether a restaurant or other commercial insurance policy is best for them should contact an independent insurance agent who specializes in restaurant liability insurance protections. A knowledgeable agent will be able to help businesses decide which type of policy is best suited for their particular situation.
As mentioned, most restaurant policies include a number of coverage. Many of these coverages can be separated into restaurant liability insurance protections and restaurant property insurance protections.
Some of the more common restaurant liability insurance protections are:
General Liability Coverage, which may protect against common accidents
Product Liability Coverage, which may protect against claims related to food-borne illnesses
Liquor Liability Coverage, which may protect against claims related to alcohol-induced incidents
Umbrella Liability Coverage, which may provide additional liability protection
Some of the restaurant property insurance protections that establishments frequently get include:
Commercial Property Coverage, which may protect an owned building
Tennents Betterment Coverage, which may protect improvements made in a leased space
Food Contamination Coverage, which may protect ingredients and foods in stock
Equipment Breakdown Coverage, which may protect essential kitchen and front-of-house equipment
In addition to these, restaurants that offer delivery frequently need some form of auto insurance. Commercial auto insurance is normally used in situations where a restaurant owns one or more vehicles (e.g. for catering events). Restaurants that have employees make deliveries via their own vehicles might only need hired and non-owned auto coverage. This coverage is generally used to cover vehicles that are used for work but not owned outright by a business.
Many restaurants in Massachusetts have employees and need workers compensation coverage. The coverage is required of most businesses in the state that have employees.
Workers compensation, however, frequently isn’t available through a standard restaurant policy. Instead, restaurants often purchase it separately. Insurance agents who are familiar with restaurant policies usually also assist businesses with workers compensation coverage.
Restaurant policies’ premiums are based on many factors and therefore, are apt to vary. Some of the items that insurers consider when setting rates are:
Where a restaurant is located
How large a restaurant’s facilities are
How many customers a restaurant serves
Whether a restaurant serves alcohol
What coverage and limits a restaurant selects
Restaurants can find out how much a policy that provides the coverage they want will cost by contacting an independent insurance agent. An independent agent is free to compare policies from different insurance companies and thus, can give restaurants an accurate idea of how much a policy with particular coverage will cost them.
For help finding restaurant insurance that will provide your Massachusetts dining establishment with solid coverage, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents have helped many establishments find affordable yet robust policies, and they’re ready to assist your restaurant.