Gilbert’s Guide to Restaurant Insurance

You’ve invested your livelihood into your restaurant business and the last thing you want is for the doors to close due to unexpected circumstances. Here at Gilbert Insurance, that’s the last thing we want too. We have worked with many restaurant owners on the North Shore and in Greater Boston to help them prepare for the unique risks restaurants may face.

As a restaurant owner, we recommend you have a business owner’s policy in place. A business owner’s policy is a convenient insurance package that includes many important coverages:

• Property Insurance — This may cover the building itself and business personal property, which can include things like equipment and inventory.
• Liability Insurance — If someone is injured inside your restaurant, this coverage helps cover medical or legal costs that may arise.
• Business Interruption Insurance — This is sometimes known as Business Income Insurance, and replaces lost revenue in the event that your restaurant needs to close down due to a covered loss like a fire.

However, a business owner’s policy is a standard small business coverage form offered to many business owners. Here at Gilbert Insurance, we understand that restaurants require additional coverages because of their different needs. We work with restaurant owners to assess risks and determine what additional coverages work best for their unique circumstances. Some additional coverages for restaurant insurance include:

• Food Spoilage — If food spoils or is contaminated because of a power outage that shuts off your cooling or heating systems, this coverage may help to replace the perishable items.
• Hired and non-owned vehicles liability — Does your restaurant offer delivery? Do your employees use their own vehicles? This coverage can help protect against potential lawsuits if they are involved in an accident while making deliveries.
• Liquor Liability — If your restaurant serves alcohol, you will need this added coverage. This helps protect your business against damages incurred as a result of a patron becoming intoxicated and injuring himself or others.
• Employee Theft Coverage — Also known as Employee Dishonesty Coverage, this coverage helps protect your business against thefts made by employees.
• Equipment Breakdown Coverage — In the event that restaurant equipment fails due to a covered loss, such as power surges or mechanical failure, this coverage can help cover costs to repair or replace equipment.

You know what it takes to run a successful restaurant, and we have the expertise to make sure it’s properly insured. Gilbert Insurance agents have been acting as trusted advisors to restaurant owners for more than 65 years. Let us evaluate your needs and find the coverage that works best for you. To find out how we can tailor a business owner’s policy for your restaurant, you can visit our website or call our office at 781-942-2225.