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Restaurants have inherent risks that require unique coverages that aren’t included in the basic Business Owner’s Policy. I go over some risks, ways of saving money, and important coverages that every restaurant owner should know about.
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Restaurant Insurance
Liability, Property, Workers’ Compensation, and Employee Practices
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Liability Insurance
• For restaurant guests
• Protects from theft
• Fire to rented property
• Poisoned guests
• Slip and falls
• Burns and cuts
• Hot spills
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Important coverages• Employee dishonesty
– This provides coverage for an employee stealing from the restaurant
– This is not covered if it is not added to the policy
• Business Income– Coverage for lost income due to a covered loss
• Hired and non-owned auto – Employee picks up some avocados and gets in an
accident– Employer could be sued for damages
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• Sewer and drain back-up– If a sink or toilet overflows, it is not covered
on a basic policy
Picture above shows a “flooded” restaurant
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Property• Tenant improvements
– Anything the employer has done to improve the restaurant– Check the lease because one may be liable for
improvements already installed– Improvements are rated at a cheaper rate because there
isn’t a theft exposure– Improvements can include almost anything bolted to the
ground or wall
• Make sure property is rated up to its full replacement cost
• Flood and Earthquake are not included and this includes a storm surge or outside waters
• Square footage vs Sales
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Workers’ Compensation• Compensate workers if hurt while working
• Mandated by California law
• Average rate right now for a restaurant (9079) is about $4 per $100 in payroll
• Managing a claim– Obtain medical care immediately– Report claims as soon as possible– Help employee get back to work– Monitor the situation
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Ahhhhhh!
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oops…that’s gonna leave a mark…
Don’t worry, no one was injured during this PowerPoint presentation
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Employee Practices Liability
• Sexual harassment– Employer to employee– Employee to patrons– Patron to employee– Patron to patron
• Discrimination
• Wrongful Termination
• Wage and overtime suits
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Thank You!Questions? Call or email me!
This presentation was for education purposes only and not meant to be a recommendation of coverage or promotion of 5th Avenue Insurance.
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