How much does restaurant liability insurance cost? When it comes to insuring your restaurant, there are a lot of factors that determine just how much insurance you will need and how much that insurance will cost. Liability is just one type of insurance available that all restaurants should have. It is the most basic form of insurance, and is very standard for most business and home policies.
When it comes to restaurant liability insurance, a general liability policy will cover the basics that you would expect from any basic insurance policy. It covers costs if anyone should injure themselves in your restaurant that may result in a lawsuit or insurance claim. For restaurants this can include everything from slipping on a wet floor, to burns from a hot coffee spill, to food poisoning. The reality is, though, that restaurant liability insurance is rarely enough. You will need much more than just restaurant liability to cover your business properly.
Other Restaurant Insurance
Restaurants often need a lot of insurance to cover a lot of different circumstances. Restaurants and bars that serve alcohol, for example, need extra insurance coverage should a person who drank on their property injure themselves or others. If you have employees at your restaurant, and many restaurants do, you are likely to need a workers compensation policy should an employee get injured on the job. Furthermore you may want a policy to cover your business should a disaster prevent you from serving customers for an extended period of time. Should storm damage or a fire shut you down for a significant period of time, this policy can help cover loss of income and more.
Determining Insurance Cost
Because there are so many restaurant policies available, it is difficult to determine cost without assessing all policies a restaurant needs. Combining policies can save money, and since most restaurants will want at least a few different policies that are available, the best way to get your rate is to figure out what you need for your restaurant and to compare policies.
At ABCO we can help you compare rates to save money. If you are looking to insure your restaurant, call us today! Our experienced staff will be happy to help you get a fantastic rate on your restaurant insurance policy.
Learn more about Restaurant Liability Insurance Cost HERE.