RESTAURANT INSURANCE
Whether your specialty is baked goods or fine dining, CSP has the depth of knowledge backed by over 80 years of experience to guide you towards the right coverage for your restaurant business. Curious about who we have helped over the past eight decades? Contact one of our insurance specialists to learn more.
BOP (Business Owner’s Policy)
A Business Owner’s Policy or BOP acts similarly to your homeowner’s policy. It combines a suite of necessary coverages into a single policy to give your restaurant the best protection.
-
Business Property - Whether you lease or own your building, it is important that both your premises and its contents are protected. Having property insurance in place prior to commencing operations is the best way to ensure that your restaurant is covered in case of physical damage to the structure or the fixtures and equipment inside.
-
Business Income provides support when you need it most. In the event of an unexpected closure, business income coverage will safeguard against lost income while the business is inoperable. It may also fund crucial expenses like payroll, employee benefits, and rent.
-
Business Liability steps in when mistakes happen. It will cover costs associated with your legal defense and settlement expense when an individual opts to pursue legal action related to injury to themselves or their property while dining at your facility.
Workers’ Compensation
Often nicknamed workers’ comp or workmans’ comp, this product protects both you and your employees. State regulations related to workers’ compensation differ based on location and size of a restaurant. Whether coverage is mandated or optional, it will only benefit your business to have a workers’ compensation policy in place.
When a job related accident occurs, workers’ compensation will cover expenses related to medical treatment, lost pay, disability, and in some cases: death benefits for the impacted employee. Owners should consider including themselves in their workers’ comp policy as many personal health policies exclude injuries of this nature.
Liquor Liability
Liquor Liability is now a mandatory coverage in South Carolina for businesses that sell alcohol for on-premises consumption after 5:00 PM.. It protects your operation from both bodily injury and liability claims perpetrated by individuals who consumed alcohol on your premises. These claims range from drunk driving to assault and battery. This line of coverage can be added to your general liability policy or purchased as a standalone policy.
Additional Coverages
Different types of restaurants may benefit from including one or more of the optional coverages listed below.
-
Business Income for Food Contamination
-
Spoilage
-
Business Auto
-
Data Breach
-
Employment Practices Liability
-
Business Income for Cloud Service Interruption
Your CSP Agent will be able to assist you in selecting the combination of additional coverages that best suit your needs. For more information, contact us by phone or email.