Restaurant owners invest a lot of resources into their eateries, and it’s important to protect the time and money they pour into their establishments. Without sufficient protection, everything a restaurant owner has poured into their eatery could be lost in a single, devastating incident. Restaurant insurance helps protect Massachusetts restaurants from many potential perils that could destroy a restaurateur’s hard work.
Restaurant insurance policies are specialized commercial policies that have been tailored to a restaurant’s particular needs. Most restaurant policies are package policies, combining several coverages into a single, convenient policy. Restaurant owners usually have the option to adjust these individual coverages as they need to.
Since restaurant owners are often able to adjust the coverages in their policies, the precise protections that policies offer can vary. Nevertheless, most policies provide a combination of restaurant liability insurance coverages and restaurant property insurance coverages.
Restaurant liability insurance coverages help protect a restaurant in various situations where it might be held responsible for injury, property damage, or other harm. What situation a policy provides protection for depends on the restaurant liability insurance coverages it contains:
What Coverages Can Restaurant Property Insurance Provide?
Restaurant property insurance coverages protect a restaurant's property from certain types of damage. The property a policy covers depends on what property coverages the policy has:
Restaurants generally only need building coverage if they own the building they’re in. Restaurants that lease a commercial space within a building typically don’t need this coverage. Instead, it’s normally the landlord’s responsibility to insure the building. (They might do this by getting a commercial property policy of their own.)
Most Massachusetts restaurants should carry a restaurant policy. Getting a policy is usually the most affordable and effective way to protect a restaurant from many of the potential risks it faces. Restaurants that don’t have a restaurant policy could be dangerously exposed to perils.
Food service businesses that aren’t traditional restaurants frequently have some insurance needs that are similar to restaurants’. Their needs normally aren’t exactly the same, though, so they’re often better off with a slightly different policy. For example, bars may be better protected with a bar insurance policy, and food truck insurance is generally more appropriate for food trucks.
For help finding restaurant insurance, restaurant owners in Massachusetts should contact an independent insurance agent in the state. An agent who’s familiar with the insurance needs of restaurants will be able to help determine what coverages are appropriate and obtain quotes that provide those coverages. They’ll also have the knowledge that’s needed to accurately compare the different quotes insurers provide.