Restaurant owners need to have a lot of coverage to protect their value businesses. If a fire breaks out, you experience equipment breakdown, or if a patron becomes ill while dining at your establishment, all of this can all lead to financial ruin. Here is a list of some common policies related to Fine Dining Insurance in California intended to give you some much needed peace of mind.
Policies that no dining establishment should be without
Property insurance is the policy that protects you in case of fire or other events. It may not cover natural disasters, such as floods or earthquakes (this requires a separate rider), but having a mortgage on the business and/or any equipment means the owner should carry a property insurance policy.
General liability is the policy that offers protection in the event of injuries occurring to patrons or visitors. If, for example, someone slips and falls in a restaurant, or becomes ill after eating there, this is must have coverage due to the amount of litigation for related instances and the exorbitant settlements handed out.
Liquor liability is a requirement for any establishment holding a liquor license. You must carry liquor liability coverage that will protect you if a customer has too much to drink, drives his or her car, and ends up being injured, or injures someone else in an accident.
Workers compensation is vital to protect your workers and staff should anyone working for you become injured at work or on the clock, and most states require that all employers carry some type of workers comp coverage.
Other types of insurance available
Business interruption will help to recoup some of the income that is lost preventing normal operations, and should food contamination occur due to a loss of power and the contents of the refrigerators and freezers become spoiled, then you can purchase a policy that addresses this and will help pay to replace the lost items.
Specific peril covers many natural disasters that general liability insurance does not, and this includes events like earthquakes or floods. Power outages due to either one should also be covered under this policy as well. Speak to an agent about questions or concerns regarding Fine Dining Insurance in California requirements.