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Various Liability Coverage for Restaurant Insurance Policies – McLean, VA

Tristate Business Insurance Blog

17 January 2014 Bookmark and Share

Restaurants, bars and nightclub owners are taught to prepare for any risk to operations; but what happens when an unavoidable supply chain disturbance occurs? Whether your business is a chain or small restaurant, there are multiple suppliers to whom your business is extremely reliant. Anything standing in the way of keeping the business moving forward can hurt your brand. Concentrating on risk management in the restaurant business is a sure way to sustain the life of your business.

One major tactic to offset this risk of being so dependent on suppliers is to consider business interruption insurance.  When suppliers have problems or there is a break in the chain, it is important to be sure you are protected. In the case of equipment failure or malfunction, equipment breakdown insurance can cover these mechanical errors and set a business back on track following an unexpected disaster.

For restaurants unable to regain power in natural disasters, there is spoilage and contamination coverage to help fill the void of lost income and costly damages. Spoilage coverage with limits of at least $250,000 is recommended, with the ability to increase limits. Food is worth more at certain times of year than others, so your carrier should be willing to increase your limit during your peak season by about 25 percent.  There are about forty-eight million food borne illnesses in the U.S. each year, leading to major sickness and in some circumstances, even death. Since there are such major health complications associated with food safety and/or recalls, appropriate coverage is not an option.

Although every business is different, there are a great deal of scenarios where proper preparation can lead to cost efficiency and savings in unpredictable scenarios. Through prepping for the unexpected, restaurants can be secured and the public opinion of a brand can be protected.

For more information on restaurant business insurance coverage, contact TriState Business Insurance.


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