The Resturant Industry requires a number of specialized Coverages which can be tailored to meet the needs of your particular type of Restaurant.
Below are the normal types of suggested coverages for your Restaurant, whether it be a Franchise or a Privately Owned Eating Establishment:
This type of insurance covers the physical structure that your business occupies and offers protection from unexpected disasters (such as fire loss, broken water pipe damage, etc.). Under most circumstances, Building Coverage is coupled with Contents/Business Property Coverage (see below), unless you own the property and lease it to another individual or company (as is the case, for example, with multi-family housing units).
Business Income / Extra Expense Coverage
Business income and extra expense coverage is complicated, but it could be critical to the survival of your company should you have a serious loss.
If your business is temporarily closed or interrupted, this type of insurance covers your ongoing bills, as well as extra expenses incurred so that you are able to retain your customers.
Exposure to catastrophic liability losses is no longer limited to large corporations or to the wealthy. The willingness of the public to sue has increased the number of lawsuits and the size of judgments awarded.
What's more, many Commercial Automobile, General Liability, and Employer's Liability limits are not sufficient to cover some of the court awards made today. Frequently, this coverage is becoming more and more of a requirement for businesses performing work as a sub-contractor on behalf of a larger firm.
Commercial Umbrella Protection makes your Business More Secure
A Commercial Umbrella Policy protects your business against these uncertainties with three kinds of coverage: Liability Insurance that adds to the limits of your Automobile, General Liability, and Employer's Liability Coverage for unknown or unexpected exposures excluded in many standard underlying coverage programs. The policy will give you details about exclusions.
This type of policy also provides coverage for the cost of your legal defense, including court costs, interest on judgments and premiums on necessary bonds.
Coverage under the Commercial Umbrella Policy is written in increments of one million dollars and supplements your present policies to provide broad liability protection.
Your coverage includes a self-insured retention (or deductible) of $10,000 that you agree to absorb before the Commercial Umbrella would apply in the rare occasion of a loss not covered by any other liability policy.
Contents / Business Property Coverage
Contents/Business Property Coverage insures all equipment and stock on the premises and protects against risk of damage, loss, or theft. Contents Coverage is not required by law, but it is recommended if your company owns expensive items that may need replacing. If the business premises are owner-occupied, Contents and Building Coverage may be bundled together under one policy. If the business premises are not owner-occupied, the tenant must arrange for Contents Coverage under a separate policy.
General Liability Coverage
General Liability Coverage is designed to cover bodily injury or property damage to other persons or businesses as a result of your operations. Normally triggered from either an injury sustained on your business premises or as a result of your business operations or products where a loss occurs, this type of policy will typically pay for both damages to the claimant and the cost to hire an attorney for you.
Businesses of all sizes have a variety of Group Health Coverages to choose from. As an employer, you know that benefits such as health insurance are an incentive for prospective employees and provide your current employees with the ability to maintain a healthy and productive lifestyle.
The problem with providing health insurance for your workforce is the cost, but there are many affordable Group Health Insurance options available. Carolina Industrial is here to help make the right choices for you and your employees.
This type of insurance covers Liability for Alcohol-Related Sales and Serving.
Mechanical Breakdown Coverage
This type of insurance covers loss as a result of Environmental Systems and Machinery Failure or Breakdown.
Refrigeration Breakdown Coverage
This type of insurance covers loss due to Refrigeration Failure.