Restaurant Insurance - California
Insuring: Beverly Hills, Santa Monica, West Hollywood, Brentwood, Culver City, Los Angeles, Calabasas, Marina Del Rey, Manhattan Beach, Redondo Beach
Restaurant Insurance Quote
Los Angeles and Beverly Hills boast some of the finest dining establishments in the United States. Your restaurant can cater to tourists, movie stars and any other locals. However, you have to provide good service in order to keep your doors open in this competitive business environment.
Don’t put your restaurant on the line if lawsuits, unexpected damage or unforeseen shutdowns arise. By enrolling in a comprehensive restaurant insurance plan with the help of Medwin Insurance, you’ll be able to get cooking and serve up the excitement without worrying about the future.
Who needs restaurant insurance?
This is a simple answer: Any restaurateur needs restaurant insurance.
You probably understand exactly how much time, money and effort goes into serving a great product. However, in the blink of an eye, an accident might occur that could wind up costing you a lot of money.
Restaurant insurance has a goal of protecting the business when unexpected or unavoidable accidents or mishaps cause a financial strain. Should a problem like a fire, severe weather or other incident impact your operation, your coverage can help you make up the cost losses. That’s a big relief when you want to keep your business in the black.
What kind of insurance should restaurant owners consider?
Restaurant owners need various types of insurance. Some of these apply to the risks that all businesses face. Other policies are more specific to the food service industry. For your convenience, we’ve broken your options down into categories: property insurance, liability coverage and other protection.
How does property & equipment coverage work?
Property insurance is the policy that will help you cover the business’s physical assets if they get damaged, destroyed or stolen. Some of the coverage you might need include:
- Structure coverage for your building and other property structures (if you own them).
- Contents insurance that pays for materials like chairs, tables, cutlery, cooking ranges and more.
- Equipment breakdown insurance that will pay you in case of sudden mechanical failures in critical systems, like your refrigeration systems.
- Food spoilage coverage will help you replace stock lost or spoiled in covered incidents.
- Business income coverage pays when an accident forces the business to close temporarily. This coverage can help you recover money that you might have to pay despite the closure.
How does restaurant liability insurance work?
Liability insurance applies when your mistakes cause harm to other people, like your diners. The accident might be your fault, so you might have to repay them.
- General liability coverage will often pay for bodily injuries or property damage to others. For example, if a client slips and falls in the bathroom, coverage can help pay their medical costs. this coverage can also apply in case a customer gets sick from food-borne illness.
- Liquor liability coverage will apply if you sell alcohol to someone, who then proceeds to do harm to themselves or others. Because you served the liquor, the losses might be your fault.
- Cyber liability coverage can help you cover the costs of notifying and protecting customers in case business data, like their credit card information, gets stolen.
- Employment practices liability insurance helps the business in case it faces a lawsuit because someone alleges misconduct (like discrimination or harassment) during the hiring, retention or termination practices you use.
- Legal assistance can help you cover your costs of lawyers, settlements and other fees related to the court proceedings arising from liability lawsuits.
What are my employee benefits and other insurance options?
There are a lot of other types of commercial insurance that you might need to carry.
- Workers’ compensation compensates your employees in case they get hurt or injured on the job. Most California businesses must carry this coverage.
- Commercial auto insurance insures you if you own a company vehicle or catering van. It will insure those vehicles in ways that a personal car insurance policy can’t.
- Commercial umbrella insurance will pay you if a customer’s liability claim exceeds the limits of your general liability policies. This coverage can provide additional settlement money.
- Key persons coverage applies if the death of a restaurant owner or manager causes a financial hardship. This policy might help cover costs the business might have to pay following such a loss.
How much does restaurant insurance cost?
The types and amounts of restaurant insurance you buy will influence your policy prices. So, too, will things like your location, claims history. Some estimates place the cost of your restaurant insurance at around $175 per month. However, don’t take that at face value. However, why spend time guessing?
Instead, let your Medwin Insurance
agent help you to sort through all the types of coverage your restaurant might need. We’ll also help you get a fast, free policy quote, so you’ll know exactly how to plan your operating budget. Call at 310-282-8331
with all your restaurant insurance questions.