Insurance & Employee Benefits
Insuring Pizzerias & Trattorias
Many Italian and Greek cafés are family owned and passed down from generation to generation. Although recently there has been a surge in franchising across the nation. As the traditional neighborhood pizzerias transitions to corporate restaurant giants, the insurance requirements change significantly. However for those not looking to trade their family stock on the exchange, there are still a few programs that address the smaller businesses.
In order to evaluate the insurance requirements, it is important to determine the risks of operating a pizza parlor. The obvious liability exposures are trip and falls, food and airborne illness, liquor, and the auto exposure for deliveries. Other concerns are the fire legal liability and personal & advertising injury.
Insuring the contents and equipment should be calculated based on the current replacement cost.
Generally the rating is determined based on the amount, the area, the construction of the building, and any fire protection safety equipment. A way to keep the cost low is to raise the deductible or place a coinsurance requirement on the policy.
Loss of business income would provide coverage for claims of income lost due to the suspension of business operation due to a covered cause of loss. Many BOP’s or business owners policies provide loss of income on an actual loss sustained basis for up to one year so it is generally not necessary to provide a dollar amount of coverage or a specific time period.
Workers’ compensation and statutory disability or DBL insurance may be required by law. Building coverage and limits for monies & securities, as well as plate glass insurance are additional options that may be important to consider.
LIABILITY & UMBRELLA INSURANCE
BUSINESS VEHICLE INSURANCE
WORKERS COMPENSATION INSURANCE Read more >>
STATUTORY DISABILITY INSURANCE (DBL)
By William F. Schaake, CIC, CRM © 2011 All rights reserved
Learn about GUARD’s Restaurant Program, Extended Coverage on BOP’s at Competitive Rates
What types of coverage are important to consider?
Restaurants, Bars & Taverns
Food & Airborne Illness
Assault & Battery
Food Retailers, Distributors, Wholesalers and Manufacturers