Do you have the right insurance coverage for your restaurant? Here are six reasons why you might want to take another look at your restaurant insurance policy.
1. You Have Recently Expanded Your Space
If your restaurant is bigger than it was when you got your insurance policy, it may be time to talk with your insurance agent. You could need to make changes such as raising the amount you’re covered for in case something happens to the building. Even if you’re renting your space, having enough coverage matters.
2. You Started Selling Alcohol or Hard Alcohol
Restaurants that sell beer and wine have more liability than those that don’t, and a different type of protection can be required for sellers of hard alcohol like Vodka, Rum, and Whiskey. If you’ve added to your offerings in any way, reviewing your policy could be a good idea.
3. You Have Opened Another Location
A second location won’t be covered under your current policy. Reach out to your insurance agent before your new space opens, and talk to them about the kind of coverage you’ll need, how much, and whether you can get a discount for having more than one restaurant location insured with them. By contacting us at Brashears Insurance today, you can work with a trusted agent to make sure you have the coverage you need.
4. Your Restaurant is Being Renovated
Renovations come with increased liability for customers and employees, especially if you’re working on part of the restaurant and keeping part of it open. Talking with your insurance agent about whether you need extra protection during the renovation can be a good idea, just to help keep you safe.
5. You Have Corrected Safety or Health Code Violations
If you had violations that were driving up your insurance rates, such as older wiring that needed replacing or non-commercial items that were being used, correcting problems at your restaurant and/or adding upgrades and safety features may help you reduce your insurance rates. It’s worth asking about. Brashears Insurance can help. Reach out to us today, to make sure you have the right level of restaurant insurance coverage.
6. You Haven’t Reviewed Your Restaurant Insurance Policy in the Past
Even if nothing has changed, it’s always good to have a restaurant insurance policy reviewed from time to time. If it has been more than a year since you and your agent sat down and looked at your policy, you’ll want to have a review for your own peace of mind. A good insurance policy review will help you feel more confident in operating your restaurant, and you will be able to help your customers without worrying about financial risks.