Opening a restaurant can be one of the most stressful and yet rewarding experiences an entrepreneur can undertake. With the hustle and bustle of the nightly rounds of meals, drinks and table service, the hiring of experienced staff and even just finding the right cooks, the routine can be exciting and bring in a whole new clientele that you didn’t even think you would be serving.
However, even in the fanciest of Michelin star restaurants, there can be accidents due to your employees, clients or even criminal activity. Your restaurant must remain protected by an armour of insurance.
An essential: commercial general reliability insurance
According to National Floor Safety Institute, every year, around three million workers in the restaurant industry are injured due to slips or spills upon the floor, and that does not even factor in the one million restaurant guests incurring injuries for the same reasons.
While your own restaurant may be impeccable due to its clean environment and tidy service, one small “slip-up” could cause financial disaster for the business if it is not insured. This is why it is essential for any entrepreneur to find business insurance quotes for your general reliability insurance.
General reliability insurance will protect your restaurant against any claims in regards to a worker or a diner who injures themselves on the premises. It can also be useful for countering any complaints about the food, as it protects against any sickness or illness caused by it.
In addition to this, if any diner has ingested too much alcohol whilst dining on your premises and then tries to drive, the cover protects your business in case they have an accident. Though it is always best to warn diners away from drinking and driving, you can only do so much. You cannot control their actions, but you can at least protect your business from any repercussions.
Employers’ liability coverage
Employers’ liability insurance can absorb a large portion of a restaurant’s takings, but remains completely necessary. This is because it is illegal for any business, restaurant or not, to hire employees without it. Therefore, it is essential that your restaurant provides it as a safety net for all of its employees.
Your employees may fall sick or get hurt in the restaurant due to a fall – or, worse, a violent client – and demand compensation. Employers’ liability insurance covers this and also can cover for any therapy or medicines required by the employee. It can even make up for wages that the worker lost due to the event.
Commercial property insurance
Although you can be expected to account for your employees’ actions, it is not fair to be held accountable for any criminal activity that threatens your business. Whether this is vandalism, theft or perhaps an unseen fire in the building or weather damage from outside, your property can be covered by commercial property insurance.
It can even pay for the time that the building may need to be closed in order for it to be repaired after it has picked up damage – such as smashed windows or water and fire damage to the kitchen or any other space inside the building.