Restaurant Insurance in North Carolina

When visitors come to North Carolina, they appreciate the many fine eating establishments. In fact, there is a sense of pride that comes from serving great food and making people feel welcome. Yet, this sense of pride comes with a cost and operating a restaurant or bar takes a great deal of hard work. In addition, if you run a food service you face a lot of risks. It is vital to make sure you have the right kind of risk management program in place which includes complete restaurant insurance. Here is an example which demonstrates the important of finding the right insurance and insurance provider.

Alan started working in his father's restaurant and bar while he was in high school. In fact, he dreamed of running his own business ever since he was very young. The work was hard and pay was low, but Alan received a sense of satisfaction from this type of work and he knew that's what he wanted to do in life.

Working with his father was not easy but Alan was determined to stay with it and he started out washing dishes and bussing tables. After a while, he was a waiter and by the time he was 22, Alan was the manager. A few years later when his father retired, Alan was the likely choice to take over the business. Before long, Alan's Place became a very successful bar and restaurant. This made Alan start thinking about his future.

Alan's wife Lisa had education and training in business management and she took care of the business side of the restaurant. When she told Alan she wanted to talk to a risk management professional about bar insurance, he agreed. This turned out to be a fateful decision that would change the destiny of Alan, his wife, and the business.

Lisa went to an independent insurance agent that provided risk management assessment and advice. He checked with several top insurance companies and gave Lisa a food service insurance policy which included all the risk factors Alan's Place needed to consider. In addition, the cost was very affordable.

The business prospered for several years and then one day disaster struck. A few patrons complained about becoming ill after eating at Alan's Place.

A large number of customers had become ill and a few of them were seriously ill and this triggered lawsuits and settlement requests. In fact, Alan's Place had to shut down for some time to make sure the source of the contamination was taken care of. This cost Alan and Lisa a great deal of money in lost income and tarnished reputation.

Lisa went to her insurance professional and he told her there was nothing to worry about. She had the right kind of insurance, including business interruption protection and within a month's time, Alan's Place was back in business and doing well. It turned out that the salad bar somehow became infected with salmonella, and the problem was corrected and preventative measures were taken to keep it from happening again. Without the right insurance in place, this episode could have spelled financial disaster.

What is Restaurant Insurance?

Restaurant coverage is designed to cover common risks that food service businesses face today. It includes several types of insurance.

Who Needs Restaurant or Bar Insurance?

Any business that serves food or drink needs to be fully protected. This includes:

  • Bars
  • Cafes
  • Inns
  • Hotels
  • B&B establishments
  • Motels that serve food
  • Resorts
  • Night clubs
  • Mobile lunch services
  • Casinos
  • Deli and sandwich shops
  • Fast food restaurants
  • Gas station/restaurant combos

Standard Food Service Insurance

To properly insure your business, you should consider these coverage items:

  • General liability
  • Building contents (includes equipment)
  • Product liability (when people become ill)
  • Commercial property coverage
  • Workman's compensation

Restaurant and Bar Insurance Options

An insurance professional can help you go over all your risk options, and you may need these things:

  • Liquor liability - if you serve alcohol
  • Fire liability - suppose your building catches fire and it spreads to other businesses. Fire liability is there to protect you.
  • Replacement cost coverage - normal insurance will pay for the market value of your property and business. Replace cost insurance pays to rebuild your business as it was. The difference can be many thousands of dollars.
  • Downtime insurance - pays for the losses you suffer if you are shut down for repairs or other covered instances.
  • Equipment breakdown coverage - can include food spoilage insurance
  • Flood insurance
  • Sewer backup coverage
  • Earthquake damage insurance

The Importance of an Independent Insurance Agency for Restaurant Insurance

Food establishment insurance is all about risk factors concerning your business. This is why it's best to choose an independent insurance professional who understands the risks you face each day. There is no need to scrimp when you want to save on insurance. Your independent agent from Charlotte Insurance does business with many top insurance companies and will comparison shop policies and coverage options for you. This can save you all kind of time and money on bar or restaurant coverage.

Charlotte Insurance has been in business since 1992 and we are here to help you cover all your business risks. We offer competitive rates so you can afford to have complete protection. Fill out our quote form for a no obligation quote request, or contact one of our agents about a food service insurance quote.