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When Things Go Wrong, Having The Right Restaurant Insurance Will See You Through

February 15, 2022

Running a business can be stressful, running a successful restaurant can be more than stressful. But it can also be rewarding and fun and, if well-managed, profitable.

Managing a successful restaurant means staying on top of all the behind-the-scenes aspects of the business—keeping the equipment up-to-date and well maintained, looking after the employees, ensuring that everything aspect of the restaurant premises adheres to laws and codes federal and state, and more.

But no matter how tight a ship you run, no matter how much you minimize your risks, there will always be things that are, simply, outside of your control.

Any number of events can result in the temporary closure of your restaurant: extreme weather, a fire in the adjacent building, a political demonstration gone wrong…. There is nothing you can do to prevent such occurrences, but there are things you can do to reduce the upheaval they bring.

A temporary closure causes a loss of earnings. For a restaurant this loss will be felt immediately and thus, Business Income Insurance is a must for your restaurant. Essentially Business Income Insurance will minimize your losses at a time when you are getting no income but all your outgoings—payroll, rent, utilities, mortgage payments—are continuing.

And, of course, Business Income Insurance is just one type of insurance available to your New Jersey restaurant.

Whatever the size of your business, making sure it is adequately insured is always a smart move and you will quickly learn that there are myriad levels of coverage and a wide range of policy types. Chances are you won’t need all the available insurance policies, but you will almost certainly need more than one.

Not sure where to start? Trying to discern the difference between Food Spoilage and Food Contamination? Wondering if you need Parking Insurance or Garage Keepers Insurance? Don’t leave things to chance. Talk to an insurance agent and get expert advice. Then, when the tenants upstairs cause water damage to your ceiling, you will at least know that your insurance will have you covered.

For more information on insurance for your restaurant contact Vozza Agency.

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