How Does Commercial Insurance Protect – Restaurants
May 15, 2019
As an extension of our previous blog, What is Liability Insurance, this is how commercial liability insurance protects our Erie Mutual members. More specifically, our members owning a restaurant business.
Our commercial insurance packages cater to your needs. All you need to do is speak with one of our qualified insurance advisors to find the right policy for you. Erie Mutual Insurance offers Contractor, Residential & Commercial Realty, Office, Bed & Breakfast, Church, and Home Based Business Packages. Each package contains a specific list of extensions and limits that are catered to the needs of that particular business operation. The limits can be increased if those already included are inadequate for your business requirements. Erie Mutual understands that each business we insure is different and we want your insurance policy to be unique to you.
Commercial general liability insurance protects you against third party claims for bodily injury or property damage, but we understand that restaurants have very specific needs. Here are a few specific areas of coverage that restaurants need and that Erie Mutual provides:
Loss of Income Coverage
If you suffer a loss, we want to ensure that you do not lose out on income. Business Interruption coverage is there for you when you experience lost sales or production.
Stock and Equipment
Protecting your expensive commercial equipment and all of your dining furniture is vital to your business. Equipment is usually covered under Replacement Cost form while stock is covered under Actual Cash Value. We work with our restaurant owning Erie members to ensure property limits are determined and in place.
Technology and Cyberone Coverage
If you rely on technology to run any portion of your business, we understand electronic security. Cyberone coverage is recommended with all commercial policies and includes computer attack and network security liability.
Defence and Settlement Coverage
These costs are included in Cyberone coverage. We highly recommend this coverage for every business that relies on a computer for daily activity.
Whether you are a long-time restauranteur or looking to open a new restaurant, work with Erie Mutual Insurance to protect your business.
Free Professional Insurance Advice
Stay updated on industry or company changes that may affect your insurance coverage or buying decisions.
As a mutual insurance provider of both farm and auto insurance (in addition to business and home), we often get questions related to farm vehicles including when and why to register a vehicle with a farm plate.
Individually we all have different questions as we begin to emerge from lockdown:
• How can I stay safe?
• Are my clothes still in style?
• How do I lose the pandemic 15?
• Will there be a second wave?
• What month is it?
• What is that glowing hot ball in the sky?
If 2020 has taught us anything so far, it is that most of us need to work on being better prepared in the event of a supply chain disruption. Power and communication are certainly high up there in terms of priorities but there is nothing more important for our survival than reliable food supply.