Once the right equipment is in place, you're happy with the decor, and the menu has been carefully thought out, it may seem like a restaurant is up and ready to go. But it's important to have the right business cover in place, as any firm will tell you, and a restaurant is no different. A simple problem with a freezer can lead to an eatery losing thousands of pounds, but a simple restaurant insurance policy can guard against these sorts of eventualities and more problems besides.
Loss and damage to equipment is a threat to any business, and a restaurant insurance policy will normally include protection should anything end up ruined. Fires, floods and other disasters not only mean you lose the contents of your business but also mean you will be out of action for a long time in some cases. Getting compensation for the goods you have lost is one thing, but what about the custom you would have got if you were still open?
Most policies will provide an extra which will provide cash handouts to help you get by while you are working towards getting back in business. This is known as business interruption and covers the loss of profits which arise from unforeseen events.
Public liability insurance is a common type of policy taken out by many businesses and protects your legal liability should a member of the public be accidentally injured or have their property or belongings damaged due to something which happened as part of your business. A simple thing like a waiter spilling a glass of water on someone's expensive PDA can result in a compensation claim, and a restaurant insurance policy will normally pay for representation and compensation.
Employer's liability is also a UK legal requirement for anyone who employs workers and covers someone for damages which arise as a result of an employee's illness or injury which may result from their employment at a restaurant.
Many insurance companies will also include things such as legal expenses. These cover some common lawyers and solicitor's fees and can often be referred to as Indemnity Insurance. This protects you against crippling legal bills should you be the subject of a legal claim following a mistake, error, or act of negligence.
Many insurance policies include glass cover, providing special protection and a speedy helping hand if glass doors, partitions or windows are smashed either as a result of an accident or vandalism. Computer breakdown is another potential add-on which insurers offer, providing pay outs for any loss which occurs as a result of an IT system failure.
Restaurant insurance can therefore provide protection for some other big legal risks a business may have to face. It can even pay out in the event the freezer fails, resulting in the loss of valuable goods. This means it protects against some everyday mishaps and big legal challenges, covering a firm for virtually any eventuality it may encounter. Optional extras also mean some of the more minor but nonetheless irritating problems, like broken doors and windows, are sorted quickly and do not impact on your business.
Liz Willder is from Tescocompare.com, the insurance comparison site where you can compare business insurance policy features and prices.
Article Source: http://EzineArticles.com/?expert=Liz_Willder
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