Protect your restaurant from the expensive cost of claims with restaurant insurance.
Benefits of Restaurant Insurance
Claims Cost Protection
Restaurant insurance can protect your business from the cost of claims. The cost of restaurant claims can include attorney fees, medical costs, and more.
Protect Your Business Reputation
Insurance can help protect your business reputation when claims happen. You can advertise your business as a licensed and insured business, which can increase your clientele.
Peace of Mind
Running a business can be stressful. When you protect your restaurant with restaurant insurance, you can experience peace of mind and less stress.
Do You Own A Brick and Mortar Location?
If you answer yes to this question and have a brick-and-mortar store, the Food Liability Insurance Program (FLIP), cannot provide a policy. But, you can click the link below to get a quote for your restaurant from our trusted partner, CoverWallet.
How Much Does Restaurant Insurance Cost?
With CoverWallet, your restaurant insurance cost can range in several different directions:
- General Liability for Restaurants: Ranges from $529 to $6,097 annually. The average annual payment is around $950.
- Business Owner Policy (BOP) for Restaurants: Ranges from $1,100 to $10,500 annually. The average annual payment is around $2,160.
- Workers’ Compensation Insurance for Restaurants: Ranges from $600 to $10,000 annually. The average annual payment is around $1,500.
- Liquor Liability Insurance for Restaurants: Ranges from $350 to $3,000 annually. The average annual payment is around $620.
What Kind Of Insurance Does A Restaurant Need?
A restaurant needs several types of insurance. Your restaurant insurance policy can include:
- General Liability Insurance
- Product Liability Insurance
- Inland Marine (Tools & Equipment) Insurance
- Damage to Premises Rented
- Cyber Liability Insurance
- Increased Insurance Limits
- Additional Insureds
Let's Talk About Numbers for FLIP
Restaurant Liability Insurance Coverage Details
Our partner, CoverWallet, offers several different coverage options when it comes to restaurant insurance. Listed below are the coverages you can choose for your business.
As the most common claims a restaurant could experience, this coverage helps protect your business from the cost of third-party injury and property damage claims. Covered claims could include damage to someone’s property or if someone injures themselves on your business equipment.
A common risk in the food business includes food poisoning. If a customer were to get sick from the food you served them, product liability insurance could help protect you from the expensive medical fees and bills.
Inland Marine (Tools & Equipment)
Protect your business equipment through tools and equipment insurance. If your business equipment is damaged or stolen it could be repaired or replaced with this insurance, saving you from an expensive out-of-pocket price tag.
Damage to Premises Rented
Protect your business from paying for damages you might cause to a rented space such as a commercial kitchen or rented building. If your stove causes grease stains you could be held liable to pay for those damages.
If your restaurant serves or furnishes alcohol, then you are exposed to alcohol-related risks and claims. If you hold a liquor license, this may be required by the state you operate in. Liquor liability insurance can help protect you from the cost of liquor related claims.
If you have any full time employees, then you may want to consider workers compensation. This can protect your employees if they fall sick or are injured while working for you.
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Liability insurance for restaurants can protect your business from the expensive costs of claims through a series of insurance coverages. Your policy can include general liability insurance, product liability insurance, tools and equipment insurance, damage to premises rented insurance, and cyber liability insurance.
It’s important to note that these insurance coverages don’t prevent claims, but they can mitigate or even eliminate how much money they could cost your business.
Restaurant owners who need restaurant insurance include:
- Cafes/Coffee Shops
- Food Delivery Services
- Fast Food Restaurants
- Sandwich Shops
As businesses in the food industry, restaurants have a unique set of liability risks, from trip and fall accidents and business property damage to customers getting sick from the food you serve. Just one liability claim can cost tens of thousands of dollars. Without liability insurance, your business may be required to pay for claims out of pocket. Restaurant business insurance can mitigate or sometimes eliminate the cost your restaurant may be required to pay for claims.
No. In order to protect your business from liquor-related claims, you must include a liquor liability insurance coverage to your restaurant insurance policy. If your restaurant serves, sells, or furnishes alcohol, you will need this important coverage to protect your business from the cost of alcohol-related accidents. It may also be required by the state you operate in.
As a restaurant owner you can experience a bevy of risks and claims. Here are a few that you could experience:
- A customer or bystander trips over your equipment, causing bodily harm
- Someone damages or steals your business equipment
- A customer gets a foodborne illness from food you served them
- A fire or disaster destroys your business equipment or causes property damage
Without restaurant insurance coverage these claims could cost you thousands of dollars in medical fees, attorney fees, and more. With restaurant insurance, these costs can be mitigated or even eliminated.
Restaurant insurance coverage can cover injury claims, food poisoning claims, property damage claims, and more. Coverages can include general liability insurance, product liability insurance, and tools and equipment coverage. Illustrated below is a scenario that you could find yourself in as a restaurant owner.
One single claim could cost you tens of thousands of dollars and have the potential to devastate your business financially. When you have restaurant liability insurance you protect yourself from the exorbitant cost that claims could cost you. We offer multiple coverages because not all claims are the same, but each has the potential to financially devastate your business.