Things You Need to Know About Buying Restaurant Insurance

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Last updated on: August 18, 2020

From creating menus to hiring chefs, choosing a lighting design and training servers, there are many factors to consider when successfully opening and running a restaurant. It can seem like a daunting task, so keep your focus clear when you begin your search. One aspect that is consistently at the top of the priority list is obtaining restaurant insurance for the business. Savvy restauranteurs want to protect all of the hard work and dedication that goes into building a profitable and popular eatery, whether it is one location or part of a chain. Luckily, Alchemy Insurance Agency is here to provide you with some helpful tips when it’s time to shop for the restaurant insurance that best fits your needs.

Consider the Competition

Compare different companies that offer restaurant insurance coverage when you’re shopping. See how their rates and coverage plans differ in order to procure your perfect match. At the end of the day, you’ll want to secure the coverage of a company that you feel comfortable with as far as their policies and prices are concerned. Be wary of agents that are less than forthcoming or withhold answers to your questions—this could be a concerning sign of things to come. Instead, opt for a company whose representatives are open and happy to get you the information you need. Remember—you are the client! You are paying for a service and deserve to know what you’re getting for your money.

Know Your Bottom Line

Another “must do” when looking for restaurant insurance is to know what non-negotiables you want to have in place, regardless of the company. Budgeting is always a part of the picture. Have a clear idea of how much you can spend on insurance in order to still run things the way you envision comfortably and without the added stress of worrying over making the monthly payment. Be conscious when calculating this amount, however, that unforeseeable circumstance can arise, and you want to have the appropriate coverage in your particular policy, should it be needed. If there’s one thing the global COVID-19 pandemic has taught us, it is to expect the unexpected—and that applies to all industries and areas of life.

Brush Up on Your Legal Liabilities

As a restaurant owner, you need to consider everything you can be held liable for as well when looking for coverage. Being informed in this area will help you to make the most informed decision. Some small businesses are not legally required to obtain insurance, and some requirements vary by state. Also check the guidelines set forth by the landlord of the property if you’re leasing the restaurant space—some require at least general liability insurance to protect them against potential third-party damage. Workers’ compensation insurance, commonly referred to as “workers’ comp,” is also required in some states. Be up to speed on your particular area’s specific regulations. If you’re looking for restaurant insurance coverage in Pennsylvania, reach out to one of the knowledgeable agents at Alchemy Insurance. They are efficient and well-versed in this area, and can get you all of the information you need quickly.

Think About Industry-Related Risks

The restaurant business has its own industry-specific issues that can be potentially problematic if not covered appropriately. Some of these include customers becoming ill or suffering from an allergic reaction after (allegedly) consuming food at your establishment, interactions between employees, and customer-employee interactions. These are, of course, in addition to potential damage or dangers that could occur—fires, burglaries or other forms of theft, and more. While it is definitely not comforting to think about these circumstances, it is better to be safe (and prepared) than sorry. Having a strong insurance policy in place can’t prevent accidents or misfortune from happening, but it can protect you from life’s unexpected events taking too much of a financial toll on your livelihood.

Take Trusted Advice

Alchemy Insurance Agency has been proudly and professionally serving customers in Pennsylvania, Texas, Maryland, and Oklahoma for over 30 years combined. In addition to commercial insurance that you can purchase for your restaurant to cover your business and your employees, this stellar agency also provides home, auto, life, and farm insurance coverage. In the commercial sector, they are well-versed at finding an affordable policy from one of the many trusted brands in their portfolio that’s just right for your business needs.

Their vast array of knowledge will be at your disposal once you become a client. You’ll be treated with the utmost respect and given open communication from your insurance agent as they work diligently to match you with the right provider for your unique needs. At Alchemy Insurance Agency, they’re in the business of taking stress off of your plate while saving you money—and that’s definitely a winning combination! To learn more about what Alchemy Insurance Agency has to offer, head over to and get a free quote today.

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