Running a successful restaurant requires tasty recipes, a dedicated crew, and huge investments in equipment and inventory. It only takes a single natural disaster or liability suit to force you to close your doors, which is why a carefully tailored business insurance policy is a necessity for any restaurant. Below are a few important types of coverage every restaurant needs.

3 Insurance Policies for Restaurants

1. Property Insurance

Even the smallest restaurant needs a variety of expensive equipment, including ovens, beverage machines, and industrial refrigerators. You may also have thousands of dollars invested in food products at any given moment, all of which could be ruined in the event of a broken cooler or natural disaster. Many insurers offer specialized property insurance policies tailored to restaurants that offer protection against food spoilage, sewer backups, and damage caused by equipment failure.

2. Liability Coverage

Any business could be held responsible if a guest suffers an injury on the property. However, any business that serves food has additional liabilities to consider, such as lawsuits related to food poisoning or product contamination. This is why you should add liability insurance to your restaurant’s business insurance plan. Businesses that sell alcohol may also need to add liquor liability insurance to cover damages caused by intoxicated customers.

3. Income Replacement

Between 40% and 60% of small businesses that close due to a disaster never reopen, even if they’ve taken out a business insurance policy. Adding income replacement coverage to your policy will ensure you have the resources to keep paying rent, payroll, and product invoices until repairs are completed after a disaster.

Planning to open a restaurant? Let the independent agents at Patton Insurance Group help protect your business from the unexpected. From their offices in Springboro, OH, they provide business insurance coverage to entrepreneurs throughout Ohio and Kentucky, and they’ve built a reputation for quality coverage and excellent service. Visit their website to learn how they can help your restaurant succeed, follow them on Facebook for regular updates, or call (937) 886-9966 now to request a free quote.