What Type of Insurance Does Your Restaurant Really Need?

Did you know only seven insurance agencies in Colorado support restaurant owners?

Lucky for you, you’re in the right spot because Weedin’s got you covered! Here are some of the basic policies you need as a smart owner.  Rather than have “The Cleaner’s come in to fix a mess that’s clearly not covered, get set up right in the beginning so they’re no questions asked and you have restaurant coverage that you can count on.

Top things that restaurant owners forget to have covered in their insurance policy:

General Liability:  Remember a few years ago when Chipotle had a salmonella outbreak? Yeah, that was bad. But, that is what generally liability is for! General liability will cover your restaurant for, you guessed it, general issues such as foodborne illness, if a customer slips and falls or if there is damage to the property. 

Liquor Liability: We’ve all gone out before where one person at the bar has had one too many beers. It happens! But it can be disruptive and cause damage. If your restaurant sells alcohol, this policy is a must. The liquor liability will protect you if an intoxicated customer causes property damage or injury.

Employment Practices: In today’s world, the well being of your employees is more important than ever. However, as an employer, you must also take the first step to protect yourself against an unhappy employee. The employment practices liability will protect against an employee who sues you for issues discrimination or harassment. 

Property Insurance: properties are as unpredictable as the weather in Colorado. It is inevitable that tour property will be damaged, but lucky for you, you can get coverage for those damages!

Sewer Backup: Imagine going out to dinner, excited to eat a delicious meal and when you visit the bathroom, all of the toilets are clogged and overflowing. Yuck. No matter how delicious the food was, It is unlikely you will return. Sewer Backup insurance can provide you an easy solution to this messy problem. 

Business Income: Remember in 2020 when the whole world shut down due to a global pandemic and many restaurants were forced to shut down? I know, it’s hard to forget.  Business income will protect your restaurant in case your restaurant will be forced to shut down again.  

Utility Interruption: as a restaurant owner you sort of need functioning water, electricity and gas. If any of these utilities fail, you could be in big trouble, even being forced to shut down. Utility interruption protection will insure you so that these issues are only temporary. 

Equipment Breakdown: How can you make a delicious meal without an oven, a stove, a refrigerator, a freezer or even a food warmer? It’s simple, you can’t! You need your equipment everyday, but like all good things, your equipment will run its course. Equipment breakdown insurance will cover the cost of broken equipment so that you can continue to thrive in your business with no hiccups. 

Are my restaurant stoves protected under my insurance policy?

Spoilage: Got milk? What about spoiled milk? Well, hopefully not, but if you do due to a power outage or anything of the sorts, spoilage insurance has got you covered. Spoilage coverage will cover any spoiled food, which can quickly add up, due to power outages. 

Electronic Data Processing: Whether it’s your credit card reader, your ordering system or even just your property’s Wi-Fi, your restaurant lives and breathes with technology. What happens if one of those systems crashes? Will you be prepared? Electronic data processing coverage will protect you when (not if) your technology becomes unreliable. 

Peak Season: As more and more things open, your restaurant will likely kick into higher gear. With a higher volume of guests comes a higher risk of damage. Peak Season coverage will offer you the additional support you need during your busiest seasons. 

Employee Theft: No matter how rigorous your hiring process is, there is always a risk of internal theft. Protect yourself with employee theft coverage to recover your potential losses.

Fine arts: Your art tells the story of your restaurant, and if it is an expensive story, you will want coverage. Fine arts coverage will protect the aesthetics of your restaurant’s interior world. 

How to create the art and décor in your restaurant?

As a business owner, you must be prepared to cover your potential losses. But not to worry, we’ve got your back!