Restaurant Insurance in Seattle, WA

The restaurant business can be exciting, rewarding and lucrative, but owners and operators must also be mindful of various pitfalls that could incur significant financial consequences. As a member of the hospitality sector, you’re likely aware of the many risks and exposures involved in providing goods and services to customers, but restaurants may need to account for specific perils and hazards that might present even greater concerns. That’s where understanding appropriate restaurant insurance becomes essential.

What Is Restaurant Insurance?

Restaurant insurance is a specialized form of business insurance tailored to suit this sector’s unique needs and circumstances. A one-size-fits-all restaurant insurance policy may not always be available, making it necessary for you to assess your coverage needs and potentially procure several separate policies to form a sufficient insurance portfolio. By doing so, you can ensure that your business complies with relevant insurance-related laws while securing your financial interests and enjoying peace of mind.

What Should My Insurance Cover?

The ideal contents of a restaurant insurance portfolio may vary depending on the various facets and unique aspects of your business. For example, small coffee shops may have significantly different coverage needs than upscale restaurants. Still, many types of insurance may be valuable for most members of this sector, including the following:

• General liability insurance can offset third-party losses for which your restaurant is to blame, such as if guests contract food poisoning or are injured while on your premises.
• Commercial property insurance may cover your restaurant’s property, including its building, equipment, tools, furniture and inventory.
• Business interruption insurance can compensate your restaurant for lost income and ongoing expenses should a covered incident force a temporary closure.
• Workers’ compensation insurance can render financial aid following employees’ on-the-job injuries and illnesses, such as burns and lacerations.

While the aforementioned types of insurance are generally applicable to all restaurants, you may require additional coverage depending on the details of your operations. For example, you’ll likely need commercial auto insurance if you offer delivery or catering services. Similarly, restaurants that serve alcoholic beverages should ensure they have liquor liability coverage.

How Much Does Coverage Cost?

Insurance rates for restaurants may vary significantly depending on a multitude of factors, such as the following:

• Location
• Operational details (e.g., type of restaurant, square footage and food and beverages served)
• Size of workforce
• Estimated annual revenue
• Value of insured assets
• Previous claims
• Coverage details (e.g., types of insurance needed, limits and deductibles)

We’re Here to Help

Contact Threshold Nosh and Dwell today to learn more about coverage options for restaurants or to get a free quote.