Restaurants, like other businesses, have various commercial insurance needs. However, the nature of the restaurant business means some forms of insurance are more important to restaurants than they might be to law firms or manufacturers, and others are unique to businesses that serve food and drink. If you own a restaurant in or around Farmville, VA, the Gantt Agency team can assist you with your restaurant and other commercial insurance needs.
Understanding Restaurant and Commercial Insurance
Restaurant insurance is a subset of commercial insurance that includes standard commercial elements and emphasizes others due to the nature of the restaurant business. Among the standard commercial insurance elements restaurants should carry are general liability, property, cyber, and umbrella insurance. Insurance coverage that is unique to or emphasized in the restaurant industry includes liquor liability, equipment breakdown, and employment practices liability.
If your restaurant serves alcohol, you need liquor liability insurance, which covers the legal and medical costs resulting from a customer purchasing alcohol from you and subsequently injuring themselves or others or causing damage.
Restaurants must also protect themselves against equipment breakdowns, which can result in lost revenue, unproductive labor, food spoilage, and other problems.
Because many restaurants have a high number of employees compared to their revenues, workers’ compensation, employment practices, and liability insurance are important for your business. While worker’s compensation primarily pays workers who suffer an injury on the job, employment practices liability covers wrongful discrimination, harassment, and other issues related to hiring and managing your restaurant employees.
Working with the Gantt Agency in Farmville
The Gantt Agency serves the Farmville, VA, community’s individual and small business insurance needs. Call us at (434) 392-7201 or stop in to create an insurance plan to protect your restaurant business fully.