Why do Restaurants & Caterers need it?
Eating & drinking businesses are an important component of American society. This is where people go to replenish, relax, celebrate and interact. However, most businesses in this industry also have a heightened risk of accidents happening, which is why a knowledgeable business insurance partner is imperative to help protect your assets. BizInsure is where the food and beverage industry goes to obtain dependable and affordable insurance tailored to exactly what they do such as this coverage specifically for caterers and catering professionals. Click or Call us to get start your quote today.
Did you Know?
Opting to purchase a BOP that includes Business Interruption or Food Contamination Coverage, can help you cover losses that may result from closure of your business due to food contamination or food poisoning claims.
General Liability – Restaurants & Caterers
General Liability is extremely important for the food and drink industry. It is often required by a contract (lease, vendor, bank, etc.) and it is considered a fundamental starting point in protecting your business assets.
A General Liability policy protects against claims of bodily injury or property damage by a third party in relation to your business or your products. The policy can cover liquor liability (when applicable) and it can also cover allegations of advertising injury and personal injury (libel, slander, defamation, etc.).
For businesses with foot traffic and countless ways for someone to get hurt, a General Liability policy is essential to ensure smooth business operations. Restaurants, bars, stores and nightclubs are a few of the businesses that require quality General Liability protection.
Business Owner’s Policy (BOP) – Restaurants & Caterers
A Business Owner’s Policy (BOP) is a convenient and affordable way for eating & drinking businesses to protect against several of the most common exposures. This type of package is how most businesses in your industry decide to purchase their insurance.
A BOP includes General Liability (see above) but it also allows you to insure your business equipment, inventory and property. In addition covering your business property, the BOP also often allows you to add coverage for business interruption, business auto liability, employee dishonesty, food contamination and more.
Businesses operating in the food and drink industry often invest heavily in equipment and merchandise, so a BOP can be vital protection against unexpected fire, theft, vandalism, etc. in addition to other common exposures.