Type of Insurances Your Restaurant May Need

Updated: Apr 11, 2019

We understand how costly starting a business could be, for this reason our agency provide the most affordable business insurance in the San Diego County. When first opening a business is important to obtain the best coverage over your investment.

When opening a new restaurant and you plan to purchase insurance to protect your business, its important to first get informed on what each insurance policy provides for you.

The most common restaurant insurance are the following:

  • Property Insurance – this is a policy that provides financial reimbursement to the owner or renter of a structure and its contents, in the event of damage or theft. So if you have a mortgage on your business, it is best to purchase this insurance policy.

  • General Liability – This helps protect your business from property damage claims, bodily injury claims, and/or personal and advertising injury claims that could put your business’s assets at risk. Let’s say, a customer slips and injures himself in your store. The injuries result in costly medical bills and maybe even a lawsuit.

  • Liquor Liability - Any establishment that sells, serves, or assists in the purchase or use of liquor opens its doors for a liability claim as a consequence of someone getting drunk to the extent that injuries or property damages are the result.

  • Automobile Liability – this is a financial protection for a driver who, while operating a vehicle, harms someone else or their property. Automobile liability insurance only covers injuries or damages to third parties and their property, not to the driver or the driver's property.

  • Workers Compensation - is a form of insurance providing wage replacement and medical benefits to employees injured while working. This type of insurance is mandatory in California.

  • Unemployment Insurance - Workers who quit or who are self-employed are generally not eligible for unemployment insurance and must provide their own rainy-day funds to cover situations where no work is available. Unemployment insurance, for those who are eligible, is paid to workers by state governments from a fund of unemployment taxes collected from employers.

  • Life Insurance - purchasing life insurance is a smart idea especially if you are thinking of you and your family’s welfare. A life insurance policy will protect them from possible financial burdens in case something bad might happen to you. Also, when you are carrying a mortgage on your restaurant, it will help to satisfy your lender. Also some business partners obtain life insurance in order to fund a buy -sell agreement in the case of each others death.

  • Fire Insurance – Aside from its coverage from damage and loss to a property because of fire, it also covers the cost of replacement and repair or reconstruction above what the property insurance policy covers.

Other Restaurant Insurance:

  • Loss of Business Insurance – this type of policy would help you recoup your income whenever there is loss in the sales through a specific cause. But you have to remember that the premiums and deductible will depend on how much you’ve lost.

  • Food Contamination Insurance – if the food in your freezer got spoiled due to interrupted power, this policy will pay to replace your food.

  • Specific Peril Insurance – natural disasters like earthquakes, floods, or power outages may be covered under this insurance, which the general liability insurance doesn’t cover.

Vianca's Insurance and Financial Services can help you with your insurance needs through excellent customer relations and providing you customized insurance at lower rates. Send us a text or gives us a call at (619) 799-9443.

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