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One Mistake Restaurant Owners Make With Business Insurance
We'll tell you what change you can make to save big right now.
How You End Up Paying Too Much
It all starts with your restaurant's small business policy. Policies can be based on three different factors. If your restaurant's small business policy is either based on total sales or square footage, you may have the wrong insurance policy.
Paying Too Much Because You're Successful
Some insurance companies use sales as the basis for the liability charge. The problem with this approach is the more successful your restaurant is, the more you pay for insurance.
Paying Too Much Because of Your Size
The second way a liability rate is charged is based on square footage. The larger the footprint of your restaurant, the more you pay.
How You Can Save Now
The third way your liability rate can be charged is by a flat rate on your business owner's policy (BOP). The premium basis on a BOP policy is for the inventory & equipment amount you need to protect, then the flat liability charge is added to that.
This is the way almost all restaurants should be insured and why many of the restaurant insurance companies we represent insure restaurants on BOP policies.
For you that means saving money by switching your liability coverage is easy and accessible. That's why almost all our restaurants are rated this way.
How We Protect Our Clients
Customer claimed their tooth was chipped by biting into a chicken wing.
$5,051 PAIDPower failure off premises on a Friday night led to lost receipts at two separate locations.
$12,261 PAIDIntoxicated patron mistook basement entrance for ladies room door and fell down the stairs.
$25,000 RESERVEDAre You Ready To Start Saving?
Now that you know how you could start saving on your business insurance the next step is finding out how much.