Friday, June 17, 2016

Restaurant Insurance FAQs

Owning a restaurant comes with some added risks that many other business owners don't have to deal with. When it comes to insuring your restaurant, you probably have a lot of unanswered questions. As your Lake of the Ozarks insurance agent, I'm here to answer all your questions in regards to Missouri restaurant insurance. At Insure the Lake, we're here to help you make sure you and your business are covered! Here are the answers to some commonly asked questions about restaurant insurance:

1. My business doesn't sell very much alcohol. Do I need liquor liability coverage? 

Even though you may sell only small amounts of liquor, you could still be pulled into a lawsuit. For instance, after a football game a group of people go to a few bars for drinks. Later in the night they end up at your establishment for food and an employee serves a drink to someone that is already impaired. An accident could result in your business being sued. Without liquor liability, you would likely be without coverage.

2. What types of payment plans are available?

You could potentially save hundreds of dollars in finance charges from your current brokered policy. Several of our carriers have monthly payment options with low monthly billing fees of around $5. Some carriers have automatic bank draft with $2 fees. We also have companies that offer credit card billing.

3. Do I need security cameras to have theft coverage? 

Most companies will require you have a central station monitored alarm system to include coverage for theft. Some of our carriers automatically offer theft and will give a discount to you for installing anti theft security devices.

4. Am I required to have a service contract for my Ansul system cleaning? 

Almost every carrier will require you have a contract for cleaning in place. Some are very diligent in following and obtaining these certificates. These companies typically offer more competitive pricing because of your loss control diligence.

5. I have several claims. Can I still get coverage?

Our agency works with multiple carriers, so if you are not eligible with one company we can look at others. We work with our customers to see how we can help lower claim frequency and severity so your losses look better at future renewals, which allows better pricing and more company options.

For any other restaurant insurance questions, give Insure the Lake a call at 573-348-2794. In addition to restaurant insurance, our Lake of the Ozarks insurance company can help with all aspects of both business and personal insurance.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral