The restaurant business has a wide variety of risks that could be covered with a good insurance policy. There are many factors involved so it is a good idea to carefully review your options.

A Business Owners Policy (BOP) will come with a package of coverage’s. All BOP’s are not created equal so you should review what is in the basic package. If you are comparing policies you want to look for one that fits your needs at a reasonable cost. The business owner’s policy will typically include a variety of liability coverage’s, coverage for your contents, loss of business income, and probably things like food spoilage, employee dishonesty, tenant’s fire liability, valuable papers, and more.

A good BOP policy will have options to customize to your needs. You will probably be able to select the aggregate liability limit, and we suggest getting at least one million and preferably two million for this. If you own the building you certainly want to insure that. If you are leasing the building it is advisable to insure and improvements or betterments you have made. Then you should consider how much contents you have to insure, and what you want for the policy deductible.

Next you should consider all the possible upgrades. Every carrier has their own options but here are some examples of possible choices:

• Increases limits for things like accounts receivables, employee dishonesty, tenants
  fire liability, cash, food spoilage, or valuable papers.
• Fine arts.
• Sewer or drain backup.
• Media or records.
• Non-owned autos.
• Outdoor signs.
• Shutdown caused by contamination.

Some policies will have the option to add machinery and equipment breakdown coverage. This can be something important to consider if you have some expensive pieces of equipment.

There are also other types of policies that you may need. A good workers compensation policy is important for any business with employees. A business umbrella policy is advisable. If there are any business vehicles you will need a business vehicle policy.

We understand restaurant policies and want to help you select the right coverage for you needs. Please contact one of our agents for more information.

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