What is Restaurant Insurance?

Owning a restaurant requires sizable investments of both time and money. Without proper protection, one incident could take away everything that was invested in a restaurant. For restaurants in New York, restaurant insurance provides important protections against a variety of covered incidents that could otherwise be disastrous. 

Restaurant insurance policies are package policies designed to meet the unique insurance needs of restaurants. Being package policies, restaurant policies usually contain several individual policies. The individual policies that a restaurant package policy includes can be adjusted to meet a particular restaurant’s needs.

What Types of Coverages Do Restaurant Policies Provide?

Most of the coverages included in restaurant policies fall into one of two broad categories. Liability coverages generally safeguard restaurants from covered incidents in which they’re held responsible for property damage or personal injury. Property coverages help protect a restaurant’s physical property.

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Some restaurant liability insurance coverages that may be available through a restaurant package policy are:

  • General Liability Insurance, which provides liability coverage for many possible incidents that businesses could face in their day-to-day operations
  • Product Liability Coverage, which may cover any liability suits arising from a food-borne illness that’s spread by a restaurant’s dishes
  • Hired and Non-owned Vehicle Liability Insurance, which is usually only necessary if a restaurant offers delivery by car
  • Liquor Liability Coverage, which is typically only required if a restaurant serves alcohol

Many restaurants in New York don’t need these latter two restaurant liability insurance coverages and, therefore, can save money by looking for a package policy that doesn’t include them. Restaurants that do need either of these restaurant liability insurance coverages, however, shouldn't skimp on the coverages. Trying to save money by foregoing coverages that are necessary can leave a business dangerously exposed to potential risks.

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Some property insurance coverages that a restaurant package policy might offer include the following:

  • Contents Coverage, which typically covers kitchen equipment, small wares, seating, decorations, and other items that a restaurant owns
  • Equipment Breakdown Coverage, which can help pay for repairs to equipment if a covered incident causes a breakdown
  • Food Contamination Coverage, which may help a restaurant replace food that spoils after a covered incident
  • Building Coverage, which restaurants usually only need if they own the building they’re in.

What Kinds of Incidents Can Restaurant Policies Help Protect Against?

The types of incidents that a particular restaurant policy safeguards a business from depends on the policy’s terms and conditions. When robust coverages are selected, a policy might help protect a restaurant from fire, theft, false advertising suits, disease outbreaks resulting from cross-contamination, alcohol-related injuries, and many other perils. 

What New York Restaurants Should Consider a Restaurant Policy?

Most restaurants in New York should consider getting a restaurant policy. Many restaurants have unique situations that call for specialized insurance solutions, which is why restaurant policies are appropriate for so many establishments. As package policies, restaurant policies are highly customizable, and coverages can be selected or deselected as appropriate.

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How Can Restaurants Get Restaurant Insurance?

Because policies are customized to individual restaurants’ needs, restaurants in New York should work with an independent insurance agent when looking for restaurant insurance. Specifically, restaurants should look for an agent who is familiar with the food service industry, as such an agent will be familiar with the perils that restaurants are exposed to and how to insure against those possible risks. A knowledgeable agent will be able to help a restaurant find a customized solution that meets its needs.


Meet Your Industry Specialist

Jeff Kroeger

Principal, Senior Vice President, and Head of Commercial Lines, Mr. Kroeger also manages the company's hospitality book of business and is that unit's primary producer. He is a graduate of Montclair State University and was named a 2015 Young Gun Insurance Business America.

Jeff has been providing exceptional insurance for restaurants, bars, nightclubs, and more for many years. He understands the unique challenges this industry faces and delivers the right coverage at an affordable price.

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