3 Risks You Must Cover Your Restaurant For

Posted on: 30 August 2019

You probably love running your restaurant. It's abuzz with activity every day, which can be an exhilarating experience. Plus, you get to be your own boss and run things your way. But as a business owner, you also run some risks that can end up putting you out of business if you're not properly protected. Here are some risks to make sure your restaurant is covered for.

Thefts And Robberies

As much as you don't want something like this to happen, the reality is that it still can. Thefts can occur when you least expect them, so it's important that you are insured, especially as you probably keep cash on your premises during your operational hours. Theft insurance will cover the loss of your stock and contents if anything is stolen or damaged during an attempted robbery from your restaurant. This will also cover the loss of any money that was stolen. If a thief damaged any furniture or a physical item, you need to make sure your insurance covers these losses too.

Food-Borne Illnesses Or On-Premise Injuries

Despite your best efforts to keep your food properly stocked, the smallest oversight can result in a mishap. And all it takes is just that one time to cost you thousands of dollars in damage — unless you're protected. Similarly, a slip or fall in your restaurant can result in physical injuries to customers and employees. You ultimately don't want food poisoning and falls to trigger lawsuits and bad publicity. While you must do everything to minimise the chance of any food-borne illnesses or injuries, make sure you have product and public liability insurance to avoid paying for these situations out of pocket.

Interruptions To Your Regular Business

Ever so often, something can happen that will result in interruptions to your regular operations. For example, sudden road works right in front of your restaurant can hurt your business because people may stop coming to the area for a temporary period. Similarly, a natural calamity like a flood, fire or earthquake can stop your business from running for a certain period. These are all issues beyond your control and may require you to close operations for a little while. In this case, you'll want to make sure that you have business interruption insurance so that you can cover your operating expenses and income until you're ready to open again.

Restaurant and cafe insurance is absolutely vital for your business because it helps to protect you and keep you going when things go wrong.