Restaurant Insurance in Vermont
What is Restaurant Insurance?
Running a restaurant can be both personally fulfilling and financially rewarding, but it’s not without potential risks. Dining establishments can lose property, be named in liability lawsuits and suffer any number of other devastating events. Restaurant insurance helps establishments in Vermont protect themselves from a range of covered risks.
Restaurant insurance policies are specialized commercial policies that have been specifically developed for restaurants and dining establishments. Most policies are crafted as package policies that come with multiple insurance coverages, which allows them to protect against lots of different perils.
What Vermont Dining Establishments Need a Restaurant Policy?
Most dining establishments in Vermont should consider a restaurant policy, for few establishments could recover from a major incident on their own and this is normally the most appropriate type of insurance for these businesses. Some specific types of restaurants that may need or want a policy include:
- Dine-in restaurants
- Carry-out restaurants
- Fast food restaurants
- Coffee shops and cafes
These establishments usually need a policy regardless of whether they’re in a free-standing structure, a food court or any other building.
As broadly useful as restaurant policies are, there are a few businesses that have similar insurance needs to dining establishments but are better suited with a slightly different commercial policy. Nightclubs, bars, food trucks and caterers, for instance, may find policies that share many commonalities with restaurant policies but are adjusted for these particular businesses.
What Protections Are Available Through Restaurant Policies?
As mentioned, restaurant policies typically come with multiple coverages that work together to provide robust protections. Many of these coverages can be separated into restaurant liability insurance coverages and restaurant property insurance protections.
Policies frequently make the following restaurant liability insurance protections available:
- General Liability Coverage, which normally covers common accidents occurring on company property
- Product Liability Coverage, which normally covers injuries and illnesses caused by sold products (often including foods and beverages)
- Liquor Liability Coverage, which normally covers accidents and incidents involving intoxicated customers
- Umbrella Liability Coverage, which normally covers large and expensive lawsuits that exceed primary policies’ limits
Policies also frequently offer the following property-focused protections as standard or available features:
- Commercial Property Coverage, which might cover owned facilities and equipment
- Tenants Betterment Coverage, which might cover changes made to a leased location
- Equipment Breakdown Coverage, which might cover equipment malfunctions
- Food Contamination Coverage, which might cover food loss following a disaster
For help selecting the coverages that make the most sense given their situation, restaurants should contact an insurance agent who specializes in restaurant liability insurance and related coverages.
Do Restaurants Need Liquor Liability Coverage?
Restaurants that want an alcohol beverages license in order to sell adult beverages generally need liquor liability coverage, as the coverage is a prerequisite to obtaining a license from the ABCC. Also, most general liability coverages exclude alcohol-related incidents, which makes this an important coverage to consider if selling or serving alcohol.
An agent who’s familiar with restaurant liability insurance requirements can help dining establishments find a policy that meets the state’s requirements and provides any additional protection that’s desired.
How Can Vermont Dining Establishments Get Restaurant Insurance?
For assistance insuring a dining establishment that’s located in Vermont, contact the independent insurance agents at T.S. Peck Insurance. Our agents have worked with many establishments in the state, and they’re ready to help you find restaurant insurance that meets your establishment’s unique needs. Because all of our agents are independent, they’re able to search multiple insurance companies’ policies and show you the most suitable ones.