Types of Insurance Your Restaurant Needs
May 1, 2019No one gets into the restaurant business thinking about insurance and paperwork, but it’s still an important part of doing business. Insurance helps protect you from natural disaster, theft, employee injuries, and liability.
Many times you can get insurance discounts when you take steps to keep your employees and kitchen equipment safe, reducing your risk. Here are the primary types of insurance to focus on!
Worker’s Compensation
This one is simple – it’s required by law and you can get in a lot of trouble if you don’t carry it. Worker’s compensation insurance helps pay for employee’s injuries and lost wages if they get hurt on the job.
Unfortunately, using the equipment and supplies in a restaurant can be pretty dangerous. This is especially true if you have younger workers who have less experience around sharp knives, hot stoves, and fryers full of hot oil.
To lower your risk, have specific processes for your kitchen and front of the house. Your senior staff and managers should help ensure they are followed precisely every time.
Property Insurance
Whether your property is stolen or damaged by bad weather, you want to have help putting the pieces back together if something goes wrong. Property insurance can help.
Keep in mind that most property, including expensive kitchen equipment, will only be replaced at the actual cash value. You may be able to purchase additional coverage to get replacement value, at least on your most important items.
Be sure to add coverage for sewage backup, which is not covered by normal commercial insurance. Unfortunately you can’t control what your patrons do in the restroom, and it pays to be covered!
Liability Coverage
Unfortunately, businesses are seen as prime pickings for those who want to make a buck through a lawsuit. There are also legitimate accidents that can happen where you might be liable for injuries or damage.
Either way, having a strong liability policy is vital. Whether a diner is injured by your equipment or supplies, or scalded with coffee, or trips over a chair, you could be liable. Protecting yourself during a lawsuit is just as important as having coverage if you’re found responsible.
You may also need specific coverage for liquor liability if you serve alcoholic beverages.
Liability coverage covers both legal defense and damages, so it’s important to choose excellent coverage!
Commercial Auto Insurance
If your restaurant has delivery or catering, you’ll need to make sure you have appropriate insurance. Be sure you have liability coverage, property damage, and additional coverage for any kitchen equipment or materials that are stored in the vehicle.
Many insurers will offer all of the insurance you need in a single package. That can make it much easier to manage, but you may be able to get a better premium if you shop around for each type of coverage.
Get the Kitchen Equipment You Need
Whether it’s time to upgrade your kitchen equipment or you’re considering expanding, it pays to have a supplier you know and trust. Tipton Equipment has been serving Little Rock restaurants for many years, and we’d love to help you find the supplies you need.
We have a variety of items available for your commercial kitchen and the front of the house. Contact us today to see what we can do for you!
Choosing the Right Sink for Your Restaurant
There are many, many pieces of kitchen equipment that are vital but often taken for granted. The kitchen sink is one of them. This workhorse of the back of the house handles a lot of jobs. Sinks give you running water as well as a place to wash either food or dishes....
Restaurant Supplies You Need to Add Delivery
Delivery services are becoming more and more popular, and that’s generally good news for restaurants. The ability to order online and receive food in the comfort of home drives up sales and that’s good for revenue. And when these sales don’t require additional tables,...
Should You Add a Salad Bar to Your Restaurant?
New Year’s is a prime time for resolutions – and one of the most common is to eat healthier and lose weight. In fact, for 2018 45% of Americans said they wanted to lose weight or get in shape for the new year. The new year might have you eyeing new options for your...
How to Overcome the Seasonal Rollercoaster
Are you tired of having huge swings in your business throughout the year? Do you wish you could just have consistent, easy-to-predict income? If so, it’s time for you to get off of the seasonal rollercoaster. You might think there’s nothing you can do to overcome the...
The Restaurant Supplies and Strategies You Need in 2019
Are you ready for the new year? If you’re like many restaurant owners, you’re thinking about how to get through the holiday rush – both in your restaurant and in your own life. However, you can’t overlook planning for the future. It’s vital to make sure you have the...
2018 Cooking Equipment Holiday Gift Guide
Do you know someone who loves to cook? Or are you looking for a new, special piece of cooking equipment for yourself? Whether you’re interested in home cooking or you run a restaurant, you can benefit from these gift ideas. These great cooking items will thrill...
Accommodating the Keto Diet at Your Restaurant
The keto diet – a low-carb, high-fat combination – has been gaining a lot of traction in the last couple of years. As a restaurant, it’s vital that you are able to accommodate your diners’ needs. More than that, having popular options on the menu can help bring people...
Restaurant Supplies You Need to Prepare for a Power Outage
It happens to all of us. You’re going on, doing just fine, and suddenly…Dark. The power is out. And of course, you have no idea how long it will last. Fortunately, you have the restaurant supplies and process in place to weather the storm without losing your...
Considerations when Converting a Food Truck to a Restaurant
Your food truck has been successful, and you have a loyal following. So loyal, in fact, that you struggle to serve them all each day. Customers have started to ask you when you’re going to open a restaurant. It started as a teasing suggestion, but it’s become more...
How to Incorporate Curbside Service in Your Restaurant
Are you looking for creative ways to grow your business without also growing your expenses? Are you interested in strategies that can start making a difference today, not just a year from now? If so, then
Tips for Great Plating & Why it Matters
You may have heard that we “eat with our eyes” before we physically eat food. That’s why pictures are so important – on menus, in cookbooks, online, and more. It isn’t just a gimmick – the truth is that the way food looks and smells actually changes our experience of...
Be Proactive: Assess and Address Risks in Your Restaurant
As a restaurant owner or manager, you have a lot on your mind. You want employees to show up on time and ready to give great service. You want your food to be well-stocked, high quality, and ready to use. You need cooks to be attentive and customers to be clear in...
How to Reduce Noise From Restaurant Equipment and More
Having a popular restaurant is wonderful. You have a lot of guests, tables turn over quickly, and you and your employees make a lot of good money every night. However, sometimes popular spots can get low ratings for a simple reason – they’re too loud! It’s not an...
Foodservice Equipment Gone Wrong: When the POS Crashes
The point of sale (POS) system that you have helps you keep your restaurant running smoothly. It helps you track inventory, sales, and revenue. It allows your staff to create checks, swipe cards, and keep tables turning. The POS is a lifesaver – until it isn’t. Maybe...
Preventing Dine and Dash in Your Little Rock Restaurant
There’s nothing more frustrating to a server – and a manager – than realizing that a table has left without paying for their meal. It costs everyone money, and it can be insulting as well. Sometimes dine and dashers are young people who think it’s a funny prank. Other...