Essential Insurance Coverage for Restaurants

| Business Insurance, Restaurant Insurance.

Essential Insurance Coverage for Restaurants

At Safeguard Insurance, we’ve been providing quality restaurant insurance in the Las Vegas area since 1998. Our professional agents understand the restaurant business and can help you tailor an insurance program that is both affordable and comprehensive. We know the essential insurance coverage for restaurants and how to save you money on your restaurant insurance.

Besides the standard property and general liability coverage, all restaurants, no matter what size, menu type, or location should also consider the following types of insurance coverage:

Essential Insurance Coverage for Restaurants

  • Equipment breakdown: Think of the potential cost to your business if a large refrigeration unit were to suddenly fail, spoiling the food contents in the process.   The repair bill alone can reach into the thousands, not to mention the potential loss of revenue and cost of replacing the spoiled food.   Equipment breakdown coverage can reimburse you for the repair cost, lost revenue and spoiled food.  No restaurant should be without this coverage.
  • Loss of Business Income: Restaurants cannot easily relocate and resume operations in the event of a major loss, such as a fire. Business income insurance makes sure you don’t go bankrupt for lack of income while your damage is being repaired. This coverage provides for reimbursement of your lost net income plus any reoccurring expenses, including ordinary payroll, equipment or location leases, utilities, etc. Also, consider an Extended Period of Indemnity that continues to pay your lost income even after you re-open for business.
  • Liquor Liability: If you serve alcoholic beverages, consider purchasing liquor liability. Nevada provides strong legal protection for restaurants, bars, and taverns from lawsuits related to the serving or selling of alcohol. However, that doesn’t mean an allegation will not be made, nor does it prevent a patron from bringing suit.
  • Food Spoilage from Power Outage:  You might maintain the refrigeration equipment in your restaurant perfectly, but if the entire power grid were to fail for few hours, the potential loss to your inventory could cost thousands to replace. This coverage is separate from equipment breakdown and address spoilage caused strictly by the loss of electricity.
  • Employee Dishonesty: Claims of embezzlement are common in every industry, but restaurants that handle large amounts of cash are especially susceptible to losses. You need to have detailed controls in place to prevent theft and adequate insurance in place to compensate you when an employee finds a way to beat the system.

Fortunately, we have restaurant insurance package programs that include essential insurance coverage for restaurants, plus broad property and general liability. We represent some of the strongest names in the insurance industry including Nationwide, Guard, Acuity, Hartford, Travelers, and Liberty Mutual. Our “A” rated carriers can provide your restaurant with the best possible coverage at a price you can afford. Contact us today for a no-obligation quote or review of your current insurance policy.

Get a Quote: Restaurant Insurance

Safeguard Insurance is licensed to quote restaurant insurance in Nevada, Utah, Arizona, Texas, Idaho, Oregon, Washington, New Mexico, and California.

Photo by Samuel Foster on Unsplash

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