Restaurants are the high risky places. They are most common places where incidents from broken equipment occur very often which lead to the liability lawsuits. To protect you and your restaurant business from such type of loss and injury problems, you need to take certain types of business insurance for your restaurant business.
The most common types of restaurant business insurance includes:
Property Insurance : Protects your restaurant against loss or damage caused due to the fire or other events. It may not cover the natural disasters like floods and storms as this coverage can be given by the National Flood Insurance Program.
Public Liability Insurance: If a customer or a member of the public is injured or killed, then public liability insurance will cover the cost of claim, and the public property that is damaged in your premises. The person can also sue for getting sick after eating, or he may slip or fall in your restaurant.
Liquor Liability Insurance: Anything holding a liquor license must carry liquor liability as a part of their insurance. This liability insurance protects you when a customer has over drunk and hurts himself or others after driving in such a condition. If you manufacture, supply or serve alcohol to your customers then you must include liquor liability insurance in your business insurance plan.
Employers Liability Insurance: This liability insurance protects you if an employee is hurt at work. It protects an employee from being injured at work or he has been seriously ill as a result of working for you.
The other types of insurance you can purchase for your restaurant are food contamination insurance, workers compensation insurance, specific peril insurance, etc. Depending upon the situations, and premium prices go for buying these coverages, otherwise it will be over insured.