RESTAURANT INSURANCE PROGRAMS
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Restaurant Insurance Programs
Restaurant Insurance for small business owners of one or more locations is provided on our Business Owner Policy (BOP) coverage form and is designed to provide comprehensive insurance for Restaurant and bar operations. We know that Restaurants provide a variety of services and operate within a number of disciplines within the classification of restaurants businesses. Some Restaurants also have other operations connected to the place of customer service like catering and commissaries and these present some unique challenges that should be thoroughly considered. In these cases we may need to more carefully consider the operations that are being conducted but we are able to provide protection to Restaurants under our Business Owner Insurance program. We are able to offer Restaurant Insurance for liquor liability to most clients in the when the alcohol service does not generate more than 30% of the business receipts. When alcohol, beer and wine sales exceed this threshold we may need to consider moving the business to our bar and tavern programs.
When it comes to Restaurant Insurance, the versatile Business Owners Policy (sometimes also known as a businessowner’s policy) has been designed as a package of property, liability, and ancillary coverage that Restaurant businesses have previously bought as ala-carte commercial policy forms. Insurance companies have bundled the often requested policy provisions into a single policy offering and because of the combination of the coverage into a package they offer generous discounts in the pricing for the increased efficiency. Business Owner policies save money and get more coverage in their Restaurant Insurance policies using the BOP policy form.
Restaurant Insurance under our BOP policy is designed for most restaurant operations. The Business Owner Policy for restaurants will include the following coverage as standard or optional coverage:
Liability
- Bodily Injury and Property Damage, Premises Liability
- Limits up to $2,000,000/$4,000,000
- Personal Injury and Advertising Liability Coverage
- Employment Practices Liability Insurance
- Fellow Employee Coverage
- Host Liquor Liability
- Non-owned Watercraft
- Hired and Non-Owned Auto Liability
- Products and Completed Operations Liability
- Employee Benefits Liability
- Ohio Stop Gap Liability Insurance
- Liquor Liability
- Food Born contamination
- Cyber liability coverage
Regardless of business type, liability insurance protects against the tort of negligence that arise from business operations. The tort of negligence is a breach of duty that is derived from common law principles that have evolved through decades and even centuries of recorded decisions about our relationships with one another. It is no different for restaurant operations. A duty is an obligation we owe to someone else. In essence, we owe each other the duty to protect them from the consequences of our actions and when someone is hurt or suffers harm to either body, property, or reputation, in our culture we boil down our grievances to a monetary settlement in most cases. In the case of the liability coverage provided in our Restaurant Insurance policy, we will pay for the benefit of a legal defense against the claims of injury or damage and we will also pay the amounts that become due to another because a finding of your negligence has occurred through legal proceedings or an agreement accomplished through the negotiations of your insurance carrier and the other people involved in the claim. This includes bodily injury and property damage as a result of events on the premises, through acts on and away from the work facilities, injuries caused by products, advertising injury, personal injuries other than bodily injury, hired and non-owned auto liability, and injury or damage caused due to computer intrusion and compromise when chosen.
Property
- Buildings, Fixtures, Building Improvements including multiple locations
- Business Personal Property including Chair Equipment
- Building Limit Automatic Increase at the Time of Loss
- Valuable Papers and Records
- Accounts Receivable Coverage
- Computer Coverage and Cyber Crime
- Outdoor Signs—Attached and Detached
- Building Ordinance or Law Coverage
- Off-Premises Coverage for Business Personal Property, including Property in Transit
- Earthquake Coverage (Some carriers)
- Business Income, including Extra Expense Coverage
- Coverage For Water Back-up
- Equipment Breakdown
- Spoilage and refrigeration
Property insurance is required to be included when a restaurant business owner policy is used. If you own the building we must include the building. We must include the business personal property, stock and fixtures because the Restaurant Insurance policy is a package policy that requires both liability and property coverage be included. The reason the BOP policy is cost effective is the large package credits that are built into the premium charges. The package of coverage is easy to issue and maintain than an assortment of separate policy forms and coverage. The business owner policy provides a lot of coverage in a tidy package and it is flexible enough to handle several locations and variety of situations for building, business personal property, computer and cyber-crime needs, signs, coverage on or off premises, loss of business income, and break down of critical building mechanical systems that may alter your ability to operate. We love writing Restaurant Insurance.
Inland Marine and Special Property
(See IM Section for more Details)
Mobile equipment and property that leaves the building is best covered with an inland marine endorsement that is designed for equipment that may float to where you actually do your work, like for example, services provided at a catered event. Certain equipment that is mobile in nature and leaves the business premises will find the broad coverage of the inland marine policy endorsement that are the best method of insuring this type floating and mobile type of property. In those instances where your property leaves your immediate premises your Restaurant Insurance is able to be amended to include this unique mobile equipment exposure.
Umbrella Liability
Umbrella liability is an additional limit of liability coverage that protects for damages that exceed primary policies and sometimes losses that were not covered in the primary policies but were not excluded by the language of the umbrella policy. Carriers writing the underlying BOP will often write umbrella liability for Restaurants and if they do they often include coverage over the professional liability. You should ask and verify if this is the case for your restaurant.
Crime and Fidelity
- Employee Theft
- Crime Inside
- Crime Outside
The loss of money through theft, robbery or burglary, or the dishonesty of an employee are losses that can cripple a Restaurant business and tailoring your needs for crime and fidelity coverage can be done within the Business Owner Policy to create the ideal Restaurant Insurance policy protection.
Business Auto
(See business Auto Section for Details)
When your restaurant business operates business vehicles it is important to insure the vehicles with liability protection just like the premises and operations. The business auto coverage is dealt with in great detail in the business auto section. Follow the link to this section for the specific business auto information.
Professional Advice and Agency Service
Quality coverage begins with understanding your needs and the extent of your operation. I have 37 years of experience working with business owners and have a unique and special connection to Restaurant owners and their business insurance needs. We love writing Restaurant Insurance for restaurant business owners. This agency represents quality carriers that have the ability to provide the coverage your business needs whether or not it is ultimately provided inside of our Business Owner Policy or our more flexible Commercial Package Policy (CPP) option. Call and ask for Terry McCarthy at (513) 779-7920, 9-5 Monday – Friday most days.
