Just like you wouldn’t serve an entrée without a side dish, you wouldn’t operate a restaurant without having the best restaurant insurance coverage.
There are over 18 million visits to restaurants every day and 1.2 million people directly employed by the restaurant industry in Canada. And there are just as many millions of things that can go wrong in a restaurant that result in an insurance claim. From property damage, to customer slip-and-falls, to employee injuries, make sure you have the best coverage with isure’s hospitality and restaurant-based insurance.
Here is the perfect step-by-step recipe for the best restaurant insurance coverage with isure:
Step One: The Kitchen
In the restaurant and hospitality industry, your employees are the first point of contact with customers. From the front-of-house to back-of house, they are not only essential to your business but also the biggest risk exposure. It is important for restaurant owners to provide employees with proper training and have coverage from employee lawsuits such as workplace discrimination or improper termination.
Step Two: The Dining Room
When guests come to your restaurant, they want to enjoy a tasty meal, not an accident. Slip-and-fall accidents are the #1 cause of restaurant insurance claims. Ensure that your entrances and exits are well-lit, clean, and hazard-free.
Step Three: The Parking Lot
Restaurants can be responsible for their patrons even before they walk in the door. Parking accidents are the second-most common form of traffic accidents, and the risk increases with the involvements of parking valets and possibility of liquor.
Step Four: Food Safety
We know that delicious food is vital to your restaurant’s success, so it’s important to have the best food safety practices and insurance protection from food contamination claims. The best approach is to work with isure to thoroughly understand and prevent potential risks.
Step Five: Business Property Insurance
As technology constantly changes and improves the quality of the restaurant business, new equipment, locations, and services can all impact your restaurant coverage. Business property insurance is important because it protects kitchen equipment, furniture, and other property in case of fire, windstorms, and other covered events.
Step Six: Fire Safety
With food constantly cooking on stovetops and in ovens, restaurants are a hot spot liability for fires. Make sure your business property insurance covers all fire prevention—the top causes for fires are electrical-related, cooking-related, and unclean equipment.
Step Seven: Business Interruption Insurance
Sometimes things happen that you can’t control. Business interruption insurance helps you when your business is closed due to an insured loss. This coverage will pay your loss of income and help you get back on your feet again.
Step Eight: Umbrella Liability
Umbrella liability covers catastrophic events and lawsuits. For employee issues, restaurant owners may want to consider Employment Practices Liability within their coverage.
Step Nine: Liquor Liability
While liquor licenses can be very profitable for restaurants, standard liability insurance does not cover liquor-related claims, such as intoxicated patrons who injure themselves or others. Liquor liability insurance is not only recommended for restaurants that serve alcohol, but any business that sells, serves, or facilitates the use or purchase of alcohol.