Hurricane season is a reality that Gulf Coast business owners have to face every year. Because of their strong winds and heavy rains, hurricanes can cause significant damage to restaurants, leading to lost revenue and expensive repairs.
This is why it's essential to have the right types of commercial insurance policies in place before hurricane season begins. In today's blog post, learn about the different types of commercial insurance policies that all restaurants should have in place before hurricane season, and how Aegis Insurance & Financial Services can help you secure the coverage you need.
Commercial Property Insurance
One of the most important types of insurance policies that restaurants should have in place is Commercial Property Insurance. This type of insurance covers damage to your restaurant's physical property, including the building structure, inventory, equipment, furniture, electronics, and other assets.
Rather than having to pay out of pocket for repairs or replacing damaged property, Commercial Property Insurance covers these losses so you can focus your financial resources on other areas of your restaurant recovery.
Hurricanes often bring heavy rainfall that can lead to widespread street and property flooding. Many standard Commercial Property Insurance policies exclude flood damage, so it's important to have a separate Flood Insurance policy in place to protect your restaurant from these types of losses.
Even a single inch of floodwater can cause your restaurant thousands of dollars in damages and losses, and paying for these losses out of pocket could make it nearly impossible for your business to fully recover. Flood Insurance can help cover the costs of repairs and replacements for damaged property caused by floodwaters, giving your business the chance to reopen and thrive again.
Business Interruption Insurance
Your restaurant will also benefit by having Business Interruption Insurance in place before the start of hurricane season. This type of commercial insurance provides coverage for lost income and other expenses that result from your restaurant temporarily closing due to hurricanes or other natural disasters.
If your restaurant is forced to close for a covered weather event, the policy can help your business cover payroll, taxes, rent, utilities, and other expenses that will still be due during your closure. This policy is a lifesaver for impacted businesses because it allows you to stay current on rent and taxes, and gives you the opportunity to still pay and retain employees, rather than having to recruit and train all new employees when you're ready to reopen.
Aegis Leads the Way in Protecting Gulf Coast Restaurants
Having the right types of business insurance policies in place is essential for Texas restaurant owners to protect themselves during hurricane season. Commercial Property Insurance, Flood Insurance, and Business Interruption Insurance are just a few of the types of insurance policies that your restaurant or cafe should consider.
Aegis Insurance & Financial Services specializes in providing restaurant owners with commercial insurance solutions that offer peace of mind, with financial protection in the event of a hurricane or other natural disaster. If you're interested in learning more about commercial insurance policies for your restaurant, or a comprehensive Restaurant Insurance bundle, contact Aegis today at 713-850-7622 or fill out our online form to request a free quote.