Few agencies understand the unique insurance needs restaurants face quite the way that Insurance Center of North Jersey does. We have been serving the insurance needs of New Jersey’s finest restaurants, cafes, pubs, and diners for more than 80 years. With this long history, we have the dish on what it takes to get the right business insurance coverages to please the most discerning palates.
What Unique Insurance Needs Do Restaurants Have?
Because restaurants serve food, there are a few specialized coverages beyond the general business insurance needs worth considering. You still need the basics, such as:
- Business Owners Policy
- Business Interruption Insurance
- Umbrella Liability Insurance
- Commercial Auto Coverage (for delivery drivers or non-owned vehicle liability coverage)
The other coverage types that are so important include some or all of the following:
Food Contamination Coverage. In the event that your freezer breaks down or your power goes out and food becomes contaminated, this policy will cover the costs to replace the food that is spoiled and must be replaced as long as the event causing the spoilage is covered by the policy.
Equipment Breakdown Coverage. Things break. Usually at the worst possible time. For restaurants, a convection oven or other covered piece of equipment going out during the lunchtime rush can be bad for business and even worse for your bottom line as they are costly to replace. This policy helps to pay for repairing or replacing the equipment and compensates you for income losses related to the breakdown. This allows you to get back in business faster and helps to ease the financial burden for your business at the same time.
Liquor Liability Insurance. If you serve alcohol in your restaurant this is one vital bit of coverage. If someone consumes alcohol in your restaurant and then leaves and has an accident, you may be held responsible for damages and injuries caused by the patron to others or him/herself while under the influence. This policy will help you cover your legal expenses and any judgments or settlements made.
Workers Compensation Insurance. Restaurant kitchens are problem areas for slips, falls, and countless other workplace injuries. Workers compensation is not only one of the requirements by law throughout New Jersey, New York, and surrounding states, but it is also an investment in your employees that will help them get back on their feet and to work much faster after a work-related accident or injury occurs.
Employee Crime Insurance. Unfortunately, not all employees are honest. In fact, a large number of employees commit crimes against you or your customers. This coverage offers protection for your business from financial losses related to employee crimes as well as providing some protection from lawsuits that arise as a result of their crimes against customers of your business.
As you can see, there are plenty of insurance protections that are special for your business because it is a business that serves food and/or alcohol. Working with an independent agency, like Insurance Center of North Jersey can help you get the coverage you need at affordable rates.
Is Insurance Center of North Jersey the Right Choice for You?
Most business owners throughout New Jersey may be asking how much does restaurant insurance cost. Insurance Center of North Jersey is an independent insurance agency with more than 80 years of experience helping restaurants and other businesses throughout the state get the right coverage and programs for the right price. They will help you with everything from quotes on rates to making real comparisons of the many different coverages available.