Insurance For Restaurants

Restaurant Insurance Australia

Restaurant insurance policies cover the hospitality businesses to service costly claims brought by an insurable event. A restaurant received numerous customers in a day who come at different times to enjoy meals and beverages. A restaurant owner has different categories of employees whose number vary according to the size of the business. In addition, the business owner invests in expensive assets for smooth running of the business. As a restaurant owner, it is important to get an insurance policy that covers your business without gaps or costly overlaps.

Top risks for restaurants

Whether running a relatively small café or a huge restaurant, your business faces numerous risks each day. A restaurant insurance policy protects you when tragedy strikes leading to huge losses and expensive claims. Wait no more; apply for an insurance policy urgently as your restaurant business faces the following risks every single day:

Burglary

Burglary in a restaurant can be in form of violent robbery, fraud and theft without the awareness of the management and security. Burglary is a risk that may lead to loss of money, equipment such as computers and stock such expensive wine. During a violent robbery, life of a customer or staff may be lost. Claims for theft may range from hundreds to millions of dollars.

Fire

Fire is an obvious risk in a restaurant that has an on-site kitchen. The sources of fire in a restaurant are many including oil, grease and electricity. However, the extent of fire risk depends on the type of food substances being cooked in the restaurant. For example, a restaurant serving sandwiches and coffee has lower risk of fire damage compared to fish and chips joint with deep fryers and grills.

Food poisoning

Every restaurant owner worries about this risk as the claim can amount to millions. When customers suffer from food poisoning after enjoying a meal in your restaurant, you are legally bound to pay their hospital bills, compensation for pain and lost income during the recovery period.

Customer’s injury

Food spills make the floor to be slippery causing injuries to customers who may trip and fall. In addition, broken furniture can cause injuries to customers, leading to claims.

Breakdown of equipment

Some of the restaurant equipment keeps the food substances fresh with a prolonged lifespan. Breakdown of equipment may result in huge food spoils leading to loss of income.

Types of restaurant insurance policy

You can protect your hospitality business using the following restaurant insurance policies:

  • Public liability- Covers all third party injury and property damage claims. For example, this policy provides compensation for injuries sustained by customers who trip and fall in the restaurant.
  • Product liability- caters for food poisoning claims.
  • Property damage- This policy provides compensations for damage caused by fire and other natural calamities stated in the insurance policy.
  • Theft and fidelity policy- This policy provides replacement for lost cash, stock and equipment through theft. Fidelity policy protects your business from losses incurred through employees’ dishonesty.
    Identify a reliable restaurant insurance provider to get the best cover for your business.
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