Conifer Insurance Group

A Guide to Restaurant Insurance

A Guide to Restaurant Insurance

The United States restaurant industry is at an all-time high with over 1 million restaurants in operation and it consumes roughly 10% of the overall U.S. workforce. The projected sales for the restaurant industry in 2020 are $899 billion. With the industry flourishing, there exists an overwhelming need for insurance to cover their unique risks. Our Food & Beverage Insurance Program offers coverage for a number of businesses within the industry including restaurants, bars and taverns, private clubs (VFW’s Eagles, etc.), convenience stores, and specialty craft beer and wine shops. Depending on the type of restaurant and what goods and services are provided, there are a plethora of insurance coverages not only available but needed.

What Type of Insurance Coverage Does Your Restaurant Need?

Restaurant owners should examine every facet of their business when considering what property and casualty insurance coverage to buy to ensure their business is covered from all risks. The four we focus on include:

  1. Property
  2. General Liability
  3. Liquor Liability
  4. Workers Compensation

Property Coverage

Property coverage ensures protection against things a business owns such as the building, business personal property, equipment, and covers perils such as fire and theft amongst others. If a business experiences a property loss from a covered peril, this form of coverage steps in to make them whole again.

General Liability Coverage

Sometimes referred to as “Slip, Trip & Fall” insurance, general liability coverage shields against the risk of liabilities imposed on a business, this protects against possible claims and covers the legal costs and any payouts the insured party may be responsible for. Some coverages include premise and operations, assault and battery, hired and non-owned auto liability, and etc.

Liquor Liability

In some states, liquor liability is required for any person or establishment that sells, serves, or assists in the purchase or use of liquor. It protects against a liability claim as a consequence of someone getting intoxicated to the extent that injuries or property damages are a result of being served from the policyholder.

Workers’ Compensation

Workers’ compensation is a type of insurance that offers employees compensation for injuries or disabilities sustained as a result of their employment. It provides support to the insureds with loss prevention services and proactive claims/medical management to help injured workers recover from injuries.

Get Your Coverage All in One Place

Here at Conifer Insurance, we are committed to providing coverage for the restaurant industry. Working with our specialized independent agents, knowledgeable management, and sound underwriting, you will get a tailored and hands-on approach to ensure your business gets the coverage it needs. Our Food & Beverage Program is designed to serve the unique and changing needs of the industry and provides the coverage options mentioned in a competitive and comprehensive insurance package.

The loss control suggestions and information contained on this blog is being provided on an advisory basis only. Conifer Insurance Company and its employees make no warranties, expressed or implied, and assume no liability whatsoever for services, products, or loss control measures provided by any service providers. Contact your local, independent insurance agent for insurance coverage advice and policy service.

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