Family Dining Insurance
Family dining restaurants seem to come and go from the spotlight, but there is certainly no shortage of customers who love to grab seats at a long table and dig in to huge skillets of delicious meats, scoops of heaping portions of sides, and pass pitchers around the table to family and friends. As an offshoot of the casual dining restaurant industry, family style restaurants share many of the same needs when it comes to being properly insured.
Carrying a general insurance policy is vital to family style restaurants, as it is to just about any type of business. This insurance coverage typically includes coverage of the physical location of the restaurant, as well as contents inside, such as kitchen equipment, furniture, electronics, and décor. Many restaurants that have a free-standing location also elect to include exterior coverage as well, which covers outdoor dining space, signage, landscaping, and parking lots. Owners must decide whether they wish to have this general insurance policy cover the replacement value of their family dining establishment, or the fair market value. While costs may be cheaper choosing the fair market replacement value, it often leads to restaurants having to foot a hefty bill in deductibles.
Liability insurance coverage is another vital type of insurance for all restaurants, especially in the busy atmosphere of a family dining environment. With this coverage, restaurants protect themselves from claims from customers who may have had an accident on the premises. Product liability insurance, a subset of liability insurance, is dedicated to claims brought on regarding products the restaurant sells, while premises liability insurance protects against claims such as slip and falls, fights, or other injuries sustained while at the restaurant.
Business interruption insurance is also a very beneficial insurance for restaurants to utilize, as it will help financially if the restaurant needs to close, whether it is caused by a fire, nature, or other circumstances. Lost incomes, as well as food spoilage, are also covered under this type of coverage. If your family restaurant is paying a fortune for insurance, it may be time to speak to a Restaurant Programs of America representative, who can discuss your expenses, and research ways that we can help you save, and possibly even increase your coverage to areas that may have been overlooked. To speak with an RPA representative, call us at 844-358-2296, or fill out a contact form here. We look forward to working with you to protect your family restaurant.