Finding the correct restaurant insurance policy is not always straight forward, as many insurers have recently been increasing the amount of exclusions on restaurant insurance policies, to avoid larger claims.
We have compiled data regarding what insurances you are likely to claim on, and what the most common causes of these claims are, to help you to reduce the chances of your business being at risk.
Get yourself a restaurant insurance quote today, just enter your details below, or call us now on 1300 859 381.
What you need to know about Restaurant Insurance
Running a restaurant can be tough at times and understanding the appropriate insurances you’ll need can be quite confusing. Breakdown of machinery can halt your restaurant operation and cause you to go out of business for some time.
If this machinery is out of use for a while, it might be beneficial to have Business Interruption insurance in place to keep your profits coming in when you’re not trading. This can also extend to provide remuneration for your lost customer base who may have found a new restaurant in the time your doors were closed.
Some of the main claims in the restaurant industry come from liability caused by breaking chairs or slips and falls. Other aspects can be foreign objects in food, and food poisoning. With public and products liability, you will be covered in the event someone tries to sue you.
To ensure your restaurants longevity, you’ll want to look at the most claimed on insurances. This shows that the main exposures are: Property Damage (fire, flood etc), Business Interruption, Public & Products Liability and Workers Compensation.
There are of course, many other types of insurance that may be applicable to your current situation. Contact one of our brokers on 1300 859 381 for more information.