What is special about restaurant insurance? In Florida, large restaurant chains have emerged that were once modest local establishments. This is how the famous Pollo Tropical was born in 1988, Burger King in Jacksonville in 1953, and the celebrated Hooters opened its doors in Clearwater, a city west of Tampa, in 1983. Flavors brought from multiple corners of the world mix in the Sunshine State to develop new smells and tastes that make local gastronomy unique.
According to the National Restaurant Association, there are about 41,500 restaurants and food-serving establishments in Florida. Opening a gastronomic establishment in one of the most visited tourist destinations in the world is a very attractive idea. But in addition to finding the location, the venue, the type of menu, and before turning on the first stove, owners must understand the coverages that their business insurance needs to include to be protected from the various risks related to their commercial activity.
The owner, therefore, will need to procure a Business Owners Policy (BOP), which combines in one package the coverages for commercial property and liability insurance. This protects both the building where the restaurant is located, as well as equipment and furniture, and defends the business against claims from customers and workers.
The restaurant should also have Workers’ Compensation Insurance, which protects employees in case of workplace accidents and protects the business from potential lawsuits.
A key policy is a Coverage to Protect Business Income, which covers significant losses that the business may suffer if an essential supplier suddenly cannot provide the raw materials to keep the business running.
In addition, the Coverage for Alcohol Sales protects the establishment from any related lawsuits from the sale of liquor and is necessary for the restaurant to obtain authorization to sell these types of beverages. And if the restaurant uses a vehicle to transport goods, it requires Commercial Auto Insurance.
As you can see, it is not just a matter of turning on the stoves and opening a restaurant. Beforehand, it is necessary to ensure that the first link in this beautiful dream is not broken with a simple stumble. Call Univista Insurance and obtain commercial insurance tailored to the characteristics of your business. What is special about restaurant insurance?
Call us today for a full qualification! 305-728-2088. You can also quote for free here.
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