Restaurants & Bars

Owning and operating a restaurant is a lot of work. Restaurant businesses require a large initial investment and constant supervision. You will want to make sure that it remains profitable by protecting it with a suitable restaurant insurance policy. Fire is one of the more common hazards faced by restaurant owners, but it is far from the only one. Understanding what types of insurance coverage you should have and exactly what it will cover is vital for continued success.

As an owner of a restaurant, you may be required to carry several different types of insurance coverage. Some insurance is required by law and some may be required by your financial institution if you have taken out a large business loan or a mortgage on the building in which your restaurant is housed. If you rent the building, you may be required to carry business insurance as a condition of your lease.

Some common insurance types include workers compensation, commercial vehicle, building & contents coverage and general liability but there are many coverages specific to the restaurant industry to think about such as Liquor Liability, Equipment breakdown coverage and Food Contamination coverage. Contact a Columbia River Insurance agent today to discuss your needs.

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    • Specialty Coverages to Consider
    • Liquor Liability

      If your restaurant serves alcoholic beverages and allows a customer to become intoxicated, your business may be held liable for the drunk patron’s ensuing actions, including acts of violence and property destruction. Liquor liability insurance can help to protect you from financial losses if you are sued.
    • Equipment Breakdown Coverage

      Equipment such as freezers, stoves, dishwashers and air-conditioning units are vital when running a restaurant. If a power surge or mechanical failure results in equipment breakdown, your business can experience expensive repairs and lost income. This coverage will provide you with compensation for your losses so that you can get your business up and running again without suffering financial setbacks.
    • Food Contamination Coverage

      If a power outage, mechanical failure or other covered event results in spoiled food that must be thrown away, this coverage will cover the replacement costs.
    • Loss of Income

      If your restaurant must temporarily close due to a covered event, this insurance will provide you with the funds necessary to continue making payments on your monthly expenses, including employee salaries, until you are able to resume operations.
    • Commercial Vehicle

      This is necessary if your restaurant offers delivery service or catering using company-owned vehicles, or your employees drive vehicles in the course of work.
    • Life Insurance

      This is sometimes required by lenders if you have taken out a substantial business loan to finance your commercial enterprise. This way, the lender can be certain that your estate will be properly settled and your business loan paid if something should happen to you. Regardless of whether or not it is required, life insurance is a good idea if you want to secure the financial well-being of your loved ones.