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5 Common Restaurant Insurance Claims

5 Common Restaurant Insurance Claims

When it comes to property claims made by restaurants, it isn’t a matter of if a claim will be filed, it’s a matter of when.

Research has shown that around 40% of small business owners in America will file a claim within the first decade of operating. And restaurants make up a huge chunk of this, owing largely to a higher risk of occupational hazards and damages.

Anyone working within the restaurant industry needs to be fully aware of the most common restaurant insurance claims, so you can make sure you’re adequately protected.
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How Long Does a Roof Last? (The Age of Your Roof and Insurance)

How Long Does a Roof Last?: Age of Roof and Insurance

Your home does a lot for you: it keeps you warm and dry, it keeps you safe, and it keeps all your things in one place. Aside from the odd repair or two, it’s holding up and doing its job well.

That’s why it comes as such as shock when your insurance company informs you that your roof age is too old and they are going to drop your homeowners insurance coverage if you don’t get a new one.

Huh?
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actual cash value vs. replacement value

Actual Cash Value vs. Replacement Cost

If you’re like most people, you don’t examine your insurance documents until you need to make a claim.

And that’s when you’ll notice it.

Your insurance company isn’t paying you enough to replace your totaled car, stating that your policy only reimburses you for “actual cash value.”

It’s a confusing distinction, understanding actual cash value vs. replacement cost is an important part of creating the coverage level you need.
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Local independent insurance agents

5 Reasons to Use Local Independent Insurance Agents

Maybe you’re starting a new business. Or perhaps you’re just curious about whether you’re overspending on your premiums. Getting an insurance rate comparison is a great way to research your options and get a policy that’s right for you.

But you have a choice: use up next week’s lunch breaks calling every insurance company you can or getting an insurance rate comparison from an independent insurance agent.

Aside from the fact that they’re completely free (yep!), here are five reasons why local independent insurance agents are better than buying your policies directly from the corporate office.

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Does Homeowners Insurance Cover Theft Outside the Home?

Just like a Business Owner’s Policy (BOP) combines multiple categories of protection into a single policy, typical homeowners insurance covers three major categories:

  • Structure – Protects your home’s roof, walls, foundation, etc.;
  • Liability – Protects you from lawsuits in the event a third party experiences injury, damage, or loss (i.e. your dog bites someone or your neighbor slips and falls on your stairs);
  • Personal property – Protects your belongings (i.e. anything you would take with you when you move) against damage and/or theft.

It is this last category—theft—that often raises questions, even among veteran homeowners.

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Here's why general liability insurance coverage isn't enough to protect your business.

Why General Liability Insurance Coverage Isn’t Enough

Most business owners hear the phrase “general liability insurance” and assume that they are covered against “general” liabilities.

This assumption could not be further from the truth.

The fact is, as a business owner, your general liability insurance coverage isn’t enough to protect your business from every foreseeable risk.

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Do I Need Rental Car Insurance?

Planning a trip should be fun—deciding where to stay, what to do, and where to eat. You definitely don’t want to worry about dealing with the aftermath of a car accident while you’re away.

Purchasing rental car insurance from the car rental company is a tempting option: you pay a few extra bucks a day and you don’t have to worry about a thing. But is it really necessary?

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9 types of restaurant insurance you needed yesterday

9 Types of Restaurant Insurance You Needed Yesterday

Owning a restaurant is a dream you’ve held for years and now it’s coming true! You’ve thought about your menu, seating options, even your logo, but have you thought about restaurant insurance?

Between your inventory, customers, and the business itself, restaurants carry a large amount of risk. But your pizza parlor, bakery, or cafe is also your livelihood. Is that a risk you’re willing to take? Having the right restaurant insurance policy can prevent you from having to kiss your dream goodbye.

So let’s take a look at 9 essential types of restaurant insurance that will keep you in business for years to come.

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Local independent insurance agents

5 Reasons to Use an Independent Insurance Agent

Put down the phone! You can save hours, stress, and money by getting an insurance rate comparison from an independent insurance agent.

Maybe you’re starting a new business. Or perhaps you’re just curious about whether you’re overspending on your premiums. Getting an insurance rate comparison is a great way to research your options and get a policy that’s right for you.

But you have a choice: use up next week’s lunch breaks calling every insurance company you can or getting an insurance rate comparison from an independent insurance agent.

Aside from the fact that they’re completely free (yep!), here are five reasons why you should work with an independent insurance agent rather than buying your policies directly from the corporate office.

Read more →