Specialty Food And Restaurants Insurance

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The Specialty Food And Restaurants Insurance Guide

Food And Restaurants Insurance

Food And Restaurants Insurance. This guide provides information on excess, surplus and specialty lines small business insurance policies and risks.

Here you can find basic descriptions of the specific industry risks or specialty coverage types available for Food And Restaurants Insurance.

For certain types of small businesses, particularly new ones - it is often very hard to know what types of commercial insurance is needed, what the risks are that should be covered - and where to find coverage.

We wanted to provide reference for specialty commercial insurance to help our readers get a better understanding of Food And Restaurants Insurance policies they might need to do business.

Learn about Specialty Food And Restaurants Insurance to better understand common risks, exposures and the types of commercial insurance coverage available to protect your small business and it's operations.

Food And Restaurants Insurance Types

Click on the links below to learn more about Specialty Food And Restaurants Insurance types and coverages:



What Type Of Insurance Do Bars Need?

Property and liability insurance coverage on bars is difficult to place because of hazards, loss history, and clientele. Bars may be located in urban high crime areas or in isolated rural areas both of which makes them theft targets because of the appeal of their liquor inventory and the day's receipts. Liability hazards are the traditional premises slips and falls on premises and in parking lots that are aggravated by liquor-impaired judgment. Many bars offer activities such as dancing, live entertainment, games, and contests that can significantly increase their exposure to loss. All bars have vicarious liquor liability exposures but the degree of the exposure depends on laws in the particular state.


What Is Catered Affair Cancellation Insurance?

This specialty coverage protects the insured that hosts a catered party, dinner, or celebration event. Coverage applies for the costs incurred when the event is cancelled, postponed, or curtailed. Covered costs are the deposits that cannot be recouped and other contractual obligations that are enforced following the change in plans.


What Is Caterers Errors And Omissions Insurance?

This coverage protects catering services, hotels, and others that provide catered event services to their customers or guests for errors or omissions they make that result in a lawsuit. Coverage applies to only the time of the event. Coverage starts when the event begins and coverage ends along with the event. Coverage applies to all services that the caterer is contractually obligated to supply. Examples of services provided are the band, hall, food, flowers, and parking. Failure to provide services as promised has been known to cause pain, suffering, and humiliation. A poorly handled event can also result in the party that requested the event losing clients and sustaining financial loss.


What Is Food Rejection Insurance?

This coverage insures against food being rejected at its port of entry due to government actions such as arbitrary rejection or detention, or through a miscarriage of administrative food-safety determination. Meat and fish are two common examples of food products that may be rejected due to contamination by impurities, packing cartons, or other cargo. The premium for this insurance is substantial due to consumer attitudes about tainted food and strict federal government regulations.


What Type Of Insurance Do Food Street Vendors Need?

Cities, towns, and municipalities license food vendors to sell food from mobile units on sidewalks or along streets and roads. These vendors sell a wide variety of food, including hot dogs, tacos, egg rolls, various ethnic sausages, and other ready-to-eat foods. Insurance packages are tailored to the vendor's needs and usually cover property, inventory, supplies, general and products liability, and auto liability.


What Type Of Insurance Do Food Trucks Need?

Food trucks are licensed by cities, towns and municipalities to sell food from trucks along streets and roads or in food truck parks. These food trucks sell a wide variety of food that, while portable, are similar to items available at popular restaurants. Insurance packages are tailored to meet the needs of the food service industry and will usually cover the truck, other property, inventory, supplies, general and products liability, and auto liability.


What Is Food-Borne Illness - Loss of Income Insurance?

This coverage insures restaurants against unexpected loss of income and extra expense because they are forced to close for a short time due to a food-borne illness. It is often provided by endorsement to commercial general liability coverage but it may be written as a separate policy.


What Type Of Insurance Does The Health Foods Industry Need?

Health foods have become more popular because of concerns about the potential problems with foods grown using a variety of pesticides, herbicides, and other chemical compounds. Property and casualty insurance programs that include products liability coverage are available to manufacturers, distributors, wholesalers, and retailers of a wide range of health food products. This industry includes natural foods, organic foods, food supplements, and personal care products.


What Type Of Insurance Do Hotels Need?

The standard markets usually insure hotels. However, some are much more difficult to place because of high property values and/or difficult liability exposures. Some hotels located in coastal areas are subject to heavy windstorms and hurricanes. Casino operations at some hotels introduce unique and unusual crime and liability exposures, while restaurants and bars present liquor liability exposures. Swimming pools, lakes, skating rinks, skiing, and other leisure activities for guests are examples of difficult liability exposures. Some hotels arrange trips for guests and programs for conventioneers.


What Is Liquor Liability And Dram Shop Act Liability Insurance?

Bars, restaurants, hotels, motels, and other businesses that sell, distribute, or serve liquor need coverage for their vicarious liability for injury or damage that arises out of acts of patrons served alcoholic beverages in their establishments. Specialty insurers write liquor liability coverage. It covers common law and statutory liability exposures for the businesses and also owners, general lessees, or mortgagors of the property. Insurer interest in writing this coverage and the premium levels available vary from state to state, based on the liquor liability laws in each state.


What Type Of Insurance Do Micro Brewery And Brew Pubs Need?

Restaurants and taverns that brew their own beer and microbreweries that make and sell small batches of beer are increasing in popularity. These small breweries are able to compete with larger commercial breweries because of their smaller size, reduced costs, and limited distribution area. Programs are available to insure the equipment and supplies they use to brew the beer as well as their commercial general and liquor liability exposures.


What Type Of Insurance Do Nutriceuticals Business Need?

Health foods are becoming increasingly popular as the nation grows more concerned about potential problems with foods grown using a variety of pesticides, herbicides, and other chemical compounds. In addition, foods preserved with chemicals are thought to be (or may be) linked to cancer. Property and casualty insurance programs, including important products liability coverage with high limits, are available to manufacturers, distributors, wholesalers, and retailers involved with a wide range of health products, including natural foods, organic foods, food supplements, and personal care products.


What Type Of Insurance Do Pizza Delivery Services Need?

Special complete package programs tailored to the needs of pizza delivery operations are available. While most of the coverages provided are standard, these programs also include the hired and non-owned auto liability coverage these operations need but that standard markets are usually unwilling to provide.


What Type Of Insurance Do Resorts Need?

Liability and physical damage coverage is extremely important to resort owners or operators. Resorts located in areas without public fire protection or in areas that are difficult to reach are particularly difficult to place because of the distance to the fire department, inadequate water supply, high brush hazards, or older buildings. Coastal resorts may have difficulty obtaining coverage for windstorm and flood. Liability exposures are often significant and include swimming pools; beach craft, such as wind surfers, jet skis, parasailing, and personal watercraft; scuba diving; water skiing; trail rides; mountain climbing; and white water rafting. Resorts also have liability exposures from winter activities such as ski trails, tows and lifts, toboggan runs, and snowmobiles. Many resorts also have exercise facilities, specialized concierge services, and significant liquor liability exposures from restaurants and bars on the premises.


What Type Of Insurance Do Restaurants Need?

Many insurance companies consider this class of business to be accommodation business. Loss experience on restaurants is consistently poor, largely due to the high incidence of fire as a result of ignition of grease on cooking equipment and in hoods and ducts. Other frequent causes of fires are defective electrical wiring, electrical appliances, and poor housekeeping. Installing automatic fire extinguishing systems reduces fire loss potential from ignition of grease during cooking operations. Liability exposures are considered less significant than the property exposures unless the restaurant serves alcohol. These risks are usually written subject to rigid inspections and the insured's cooperation to eliminate hazards.


Food And Restaurants Insurance - The Bottom Line

We hope that the Food And Restaurants Insurance helps you to better understand the some of the specialty small business commercial insurance policies available for your business. To find out what types of coverage your unique business needs, speak to a professional commercial broker with experience in insuring businesses like yours.

Specialty Small Business Insurance Guide By Industry, Risk Or Policy Type



Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

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