Restaurant Insurance in Vermont
For diners, going to a restaurant involves enticing sights and aromas culminating in a delicious meal. For restaurant owners, it’s a lot more complicated. From carefully managing menus, inventory, and employees to paying the rent and utilities, running a restaurant is a big responsibility. You must also take steps to protect your customers, employees, and business from injuries, damages, and other events. Vermont restaurant insurance provides comprehensive financial protections against many situations.
Basic Vermont Business Insurance Coverage
All businesses face risks, and restaurants are no exception. Sharp knives, liquid spills, and open flames make restaurants especially likely to face workplace and customer injuries, fires, and property damage.
All restaurants share certain risk factors with other businesses that should be protected against. When assembling a restaurant policy package, your agent will start with these basic coverage options to insure your business against common risks areas.
Property Damage Insurance
To help cover the restaurant structure and contents against fire, theft, vandalism, storm damage, and other losses.
To help cover the costs of lawsuits and medical costs if a customer or other person is injured or becomes ill or their property is damaged.
- This is required in VT for all businesses to help cover the costs associated with workplace injuries.
Business Interruption Coverage
- To help pay the expenses if your business has to temporarily close due to a covered event.
Other Vermont Restaurant Insurance Options
Restaurants face risks that other businesses may not. By incorporating these industry-specific coverages into your insurance package, you can have more comprehensive coverage for the situations you may face.
Liquor Liability Insurance
This is important if you have a liquor license. This helps cover the costs of lawsuits associated with damages caused by an inebriated patron.
- This coverage is essential for restaurants that deliver food and cater events.
Food Contamination Insurance
These policies can help cover the costs of lost inventory if your food is contaminated due to a power loss or other covered event.
Loss of Business Insurance
- This coverage can help cover lost income due to certain covered situations.
Insurance is important but it can also be expensive if not bought with careful help. By working closely with your agent, you can develop a package policy that’s right for you. You may be able to start with a Business Owner’s Policy, which offers affordable coverage that can then be customized to your specific needs. This is a convenient option for many small restaurant owners.
Many insurance carriers offer discounts for safe workplaces. Completing training in safety, developing a protocol for serving alcohol, using commercially-licensed drivers are just some of the ways you may be able to save money on your insurance premiums.
Running a restaurant can be a satisfying and enjoyable experience, but it is not without risks and responsibilities. If a loss occurs, restaurant insurance can help your business quickly recover so you can continue bringing culinary joy to the visitors and residents of Vermont.
Founded in 1869, T.S. Peck Insurance has the expert advice you need. As one of the largest insurance agencies in Northern Vermont, we have worked extensively with restaurants and understand their unique needs. Our trained agents can help you find the coverage options you need, while adhering to state regulations and staying within your budget.