What type of coverage do you need?

restaurant insuranceMany types of accidents can take place in a restaurant. That's what we have restaurant insurance for. But, if you file a claim, your rates will go up. This is the only way insurance companies can reasonably safeguard themselves against frivolous claims. So, the question comes down to whether an accident taking place in your restaurant necessitates the filing of a claim. Here's what you need to consider:
  • An accident that only damages restaurant equipment might be better to handle without filing a claim. A $100 microwave might be covered, but the deductible alone might wind up costing you more than simply buying a new microwave out-of-pocket. On the other hand, if a $5,000 pizza oven or a $2,000 espresso machine is damaged, you might want to give your insurer a call.
  • If a customer is injured in your place of business and you are found to be at fault, then your liability policy is going to handle that, and your rates will go up. But it beats the alternative — which is to potentially be sued to the point of bankruptcy.
  • If an employee is injured, rate changes may depend on severity. In the course of business, a cook may nick themselves on a cheese-grater now and then. On the other hand, a serious injury is likely to result in an employee being out of work for a while. In that case, workers compensation will cover the injury. Your premiums might or might not be bumped up in this instance. It depends on several factors — including the cost of the workers compensation, and the frequency of the claims. A cook who misses a week of work with a burned finger might not bump your rates. But a waiter who's out for six months after a serious slip-and-fall might.
If you're unclear on anything in your policy, the best course of action is to contact your restaurant insurance provider. That way, you know exactly where you stand with them.
Posted 11:29 AM

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