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The Different Types of Restaurant Insurance that Your Restaurant may Need
Many people will tell you that one of the most difficult industries to do business in is the restaurant industry. However, many people make an attempt to be successful by opening up their own restaurants. Regardless of how competitive and difficult it can be, it can be very rewarding as well. Of course, you’ll want to make sure you have the best restaurant possible, and this includes offering the best service and the best food. You’ll also want to have the right restaurant insurance to make sure your business is covered.
There are many different types of insurance that are necessary for restaurants. Here are a few types of insurance you’ll need to have standard.
The first standard option for most businesses is liability insurance. This covers any accidents that may occur at your restaurant, especially those accidents involving customers.
You’ll also want to have property insurance, which covers the restaurant property as well as all the contents inside the building from incidents such as fires, theft or specific types of accidents. To expand this type of coverage to cover things that general property insurance doesn’t cover, such as floods and earthquakes, you can choose peril insurance coverage.
Another type of coverage is liquor liability insurance. In some cases, this is an option, but depending on where the restaurant is located, state law may make this a requirement. This basically offers you liability coverage should somebody drink alcohol and cause an accident in which their alcohol consumption was the cause of the incident.
You can also choose food spoilage insurance. This means that if the power should go out to your facility for an extended period of time, and your entire stock of perishable food is ruined because of lack of proper refrigeration, this type of policy will cover the replacement of the food that was lost. This may not seem like anything too significant, but if a large amount of food spoils because of a power outage, the cost of replacing that food can cost more than you can afford to pay.
In order to determine the correct restaurant insurance for your business, you want to speak with a professional insurance agent or broker. They can examine the policy you have, identify any lapses in coverage and provide you with the necessary coverage to make sure your restaurant is as protected as you can make it. Go to http://www.rsi-insurance.com/ for more information.
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