Restaurants require significant financial and time investments to operate, and those investments ought to be protected if possible. Purchasing restaurant insurance is one way that restaurant owners and managers in Massachusetts can protect their businesses.
Restaurant insurance is specialized commercial insurance for dining establishments. So they can offer protection against multiple risks, most restaurant policies are package policies and have multiple coverages in them.
Most traditional dining establishments in Massachusetts should consider getting a restaurant policy. This tends to be the most appropriate type of insurance for these businesses, and not insuring an establishment can lead to major losses if there’s a major incident.
Some other food service businesses might need coverages similar to those that restaurants get, but these other businesses may need a slightly different type of policy. For example, food trucks normally are better served by food truck insurance. Likewise, taverns probably should have tavern insurance. Other policies are available for other businesses in food service.
Restaurant property insurance coverages generally protect assets that a restaurant owns, which may include buildings, fixtures, equipment or other items. Some property coverages to consider are:
Restaurant liability insurance coverages normally protect restaurants in certain situations where they might be held financially responsible for an incident. Some common liability coverages include:
Restaurants that have vehicles for deliveries, catering or events usually need some form of commercial auto insurance. There are a couple of different commercial auto insurance policies that might be applicable.
Traditional commercial auto coverage generally provides both protection for vehicle damage and liability protection for car accidents. The coverage is most often purchased when a restaurant owns vehicles.
Hired and non-owned auto coverage generally provides a restaurant with liability protection for accidents. Coverage for vehicle damage tends to be excluded. The coverage is most often used for employee vehicles that get driven for deliveries.
Restaurant policy premiums vary depending on a variety of factors. A restaurant’s location, square footage, annual sales and foods/beverages served are just some of the details that may impact rates.
To learn precisely how much insuring a particular restaurant will cost, owners and managers can speak with an independent insurance agent who specializes in these policies. Someone who knows restaurant policies well will be able to recommend coverages for a restaurant, and they can show several policies if they’re independent. Independent agents aren’t associated with any one insurance company.
If you have a restaurant to insure, contact us at Roger Keith & Sons Insurance. Our Massachusetts agents will work with you to identify coverage needs for your business, and then we’ll help you compare policy options that meet those needs. With our assistance, you can be confident that the restaurant insurance you choose will protect your establishment well.