Texas is home to some of the nation's most dynamic restaurants, with dining options ranging from tiny mom and pop cafes to world-class gourmet cuisine. No matter the size, cuisine or price range, restaurants all need Commercial Restaurant Insurance in order to operate and protect their business. However, the Commercial Insurance purchased when the doors first open may not meet the unique needs of restaurant owners after the business has been established and flourishes over time. In today's Aegis post, we look at how restaurant owners can keep their Commercial Insurance coverage up to date in order to protect the future of their business.
Commercial Property Insurance
In order to get a restaurant off the ground, owners need a great deal of equipment, tools, appliances, furniture, raw materials, and electronics. However, as a restaurant expands and thrives over time, they may need to purchase larger or more efficient equipment, add more tables, or replace appliances and machinery that no longer function as well. It's essential that Commercial Property Insurance be updated to reflect these new additions or changes in inventory. Otherwise, if disaster strikes, the restaurant might not have enough coverage to replace everything lost or damaged needed to run daily operations.
Just as business equipment, machinery, and assets can accumulate over time, so can employee rosters, so it's vital that restaurants have Workers Compensation coverage that is updated to account for their current number of employees. Too often, restaurants fail to have enough Workers Compensation coverage, or they skip it altogether and then must face paying medical costs, lost wages, or legal expenses out of pocket when workers are hurt on the job.
Many restaurants owners secure General Liability coverage when they first open their doors to the public, but they may discover later that General Liability coverage isn't enough when a customer is seriously injured, or if their business causes damages to a nearby business. In these instances, the damages, court costs, and attorney fees might far exceed the coverage provided by General Liability, so Excess Liability Insurance may be beneficial to restaurant owners as well. In a future blog post, we will also cover other industry specific liability exposures and solutions, including: Liquor Liability Coverage, Business Income and Utility Interruption Coverage, and Umbrella Insurance.
Aegis Insurance & Financial Services is pleased to provide Houston restaurant owners with reliable, comprehensive Commercial Insurance specifically tailored to the restaurant industry, all at competitive rates. The Restaurant Insurance coverage offered by Aegis may include Business Owners Policy, Commercial Property, Commercial Auto, Workers Compensation, General Liability, and Excess Liability coverage. For more information about Restaurant Insurance coverage from Aegis, contact our office at 713-850-7622 or fill out our online form for a free quote!