If you have been looking at pub and restaurant insurance for your business, you may feel overwhelmed by all the different coverages available. Not every eatery will need the same type of insurance or the same amount of coverage. The types of insurance you require will depend on your specific restaurant. Tabak Insurance can help you decide on the right coverage.
Different Types of Restaurants
Tabak Insurance can help you create a customized insurance policy with the right add-ons for your establishment. Different types of restaurants will have unique needs. A café or casual restaurant is quite different from a formal restaurant or bar. If your restaurant also does catering, you may need additional coverage.
Food trucks have become quite popular across the country. Many of them now offer a stand-alone restaurant as well as a mobile truck. Insurance coverage for this type of restaurant must be adequate to protect multiple facets of the business.
General Liability Insurance
All types of eateries must be protected from claims made against them by customers or other third parties who suffer injuries. Perhaps someone got burned by a cup of coffee or they slipped because of a spilled drink and injured their back.
General liability is designed to cover claims for property damage and injuries due to negligence by the restaurant. A valet accidentally gets a scratch on the door of the vehicle when they drive it to the parking garage. A server spills a drink on a patron’s expensive coat, causing a permanent stain. Tabak Insurance can help you determine how much general liability coverage you need for your business.
Another type of coverage necessary for both restaurants and bars is property insurance. If a fire starts in the kitchen or a water pipe bursts and causes water damage, this policy covers your losses. It also protects your building and the contents from natural disasters and weather-related incidents.
With commercial property insurance, you have two options for coverage. First, you can select a policy that covers your property for everything except what is specifically excluded.
The second option is to purchase a policy that covers only a specific type of peril. Flood insurance is an example of the second type of coverage. Since damage from flooding is often excluded from general policies, it is a special type of coverage that the restaurant owner may choose to purchase in addition to the main commercial property insurance policy.
Tabak Insurance can help you decide which perils are most applicable to your establishment based on your location. We want you to be covered for all events that could cause loss to your restaurant.
Business Owner’s Policy
Many restaurants decide on a comprehensive business owner’s policy, also known as a BPO. This policy includes general liability, property coverage, and business interruption insurance.
Business interruption insurance protects your restaurant from loss of income. If the restaurant had to be closed due to water damage or a fire, this type of coverage would pay for the lost income until you could reopen.
This is a type of insurance you are required by law to have if you hire employees. It pays for medical care and lost wages if an employee is injured while performing their duties. Your cook could get burned while preparing meals in the kitchen. Another employee may hurt their back from lifting heavy cases of alcohol.
The insurance policy covers employees who are injured, but it also protects the employer. Without this policy, the employee could sue you for their injuries. Tabak Insurance can make sure that you have enough coverage to protect your business and your employees.
This type of insurance is only necessary for establishments that sell or serve liquor. If you have a diner, café, or food truck with no alcoholic products, you won’t need the coverage. Pubs and bars require liquor liability insurance, as do restaurants that provide a drink menu. A catering company that provides a bartender at events should have this type of protection.
Some liquor liability coverage is included in a general liability policy. That coverage is only adequate if you serve alcohol on occasion. For restaurants and bars that serve alcohol as part of their daily service, they will require a separate policy.
Your business needs this policy if you serve alcohol to protect you from a lawsuit if an intoxicated person injures someone. An example would be a person who leaves your bar and gets in an accident. If they were intoxicated above the legal limit, the person they injured could sue your bar for serving them to the point of intoxication. You can contact Tabak Insurance to determine coverage necessary for liquor liability with pub and restaurant insurance.
Other Types of Pub and Restaurant Insurance
Directors and officers (D&O) insurance protects the restaurant from something an owner or other executive might do. You may be the co-owner of a bar. If the other owner is sued for improper business practices, D&O coverage would protect you and the bar.
Errors and omissions (E&O) insurance is another type of protection. This coverage protects the business if a customer makes a claim against them for monetary loss. A customer may sue the caterers of a restaurant for failing to provide food at the correct temperature. Your manager may have rented out a back room to accommodate a special group, which didn’t have enough space even though the manager assured them it was large enough. If the customers lost money because of these issues, they could sue.
Let Tabak Insurance Help You Save Money on Pub and Restaurant Insurance
If you’re concerned about having the correct type of coverage and an adequate amount to protect your restaurant, talk with the team at Tabak Insurance. We can help you determine which coverages you need in your policy to protect your business. With over 25 years of experience in the restaurant/bar industry, we know specifically what restaurants need in their insurance policies. We also work to save you money, so you don’t have to sacrifice protection to fit your budget.