Owning a restaurant is just about the world’s oldest profession, and we bet some days you feel like there’s no one who understands what you go through. Whether you’re slinging burgers or creating culinary masterpieces, you need to know that your business is protected.
You may not realize it, but your business changes every day as you bring in new equipment, new services, new supplies, new staff, and add new locations. What we know is that all of these things can impact your insurance needs. If a flood rolls through your kitchen or a customer claims to get sick from your food, you need a plan to keep your operation up and running.
OnMarket Insurance Associates has worked many times in the restaurant industry, and can build a policy to address all of your commercial insurance requirements … even some not found in a typical policy.
The places we look to protect you …
Property Insurance
What makes a restaurant different from insuring other businesses is that your property consists of way more than just your building and equipment. When writing your policy our team will look to also cover business interruptions from sewer or drain backups, equipment loss or failure, out signage, employee misconduct, high-value decor, and even loss from spoiled food.
Liability Insurance
When you own a business that encourages people to come and let loose, there’s a high likelihood of something going wrong, and often the customer thinks you’re liable. We will look well beyond the obvious risks within your establishment to provide extended coverage over things like damage to leased property, liquor sales liability, and other exposures.
Additional Considerations
The reason to have a team like ours is that we think about things to cover that ordinarily slip through the cracks. For instance, restaurants that accept cash need an insurance policy that covers money & securities. Also, if you keep an extensive wine collection, we need to look into a policy that specifically addresses high-value stock. Finally, what other business has to worry about their inventory going bad? Don’t let insufficient planning shut you down.
Any questions?
Do I need different coverage if my restaurant is leased from a franchise?
Yes, we will want to take a look at the contract you have with the franchise owner to not over-pay for things you’re already protected for, but also make sure you’re not left vulnerable by a flimsy plan.
Do I have to provide health insurance options for my employees?
Yes, with the passing of the Affordable Care Act, businesses must now provide or assist their employees in obtaining minimum healthcare requirements. This is something that we can help you build into your overall insurance coverage.
If I have locations in multiple states do I need a different policy for each location?
Most likely each state will have specific requirements that make the coverage different for each location. However, the benefit of working with a team like ours is that we can bundle these policies to help you manage and pay for it through our service.
