As restaurant insurance agents who have been working with business owners across Texas for years, one of the most common questions we get asked is simply, “Do I need insurance for my restaurant in Texas?” As a business owner, your eyes are always on the bottom line, looking for ways you can increase profits and reduce expenses. So if you can get away without spending on extra insurance for your restaurant every month, it would only make sense to save that money. However, that’s not the case. Restaurant insurance is absolutely essential for all dining establishments.
Restaurant Insurance is an Investment, Not an Expense
While it’s tempting to skimp on restaurant insurance so you can save a few bucks each month, the truth is you shouldn’t view your insurance as another expense. It’s an investment, and in fact, it’s one of the most important business investments you can make in your restaurant.
Texas restaurant insurance protects your business in a number of different ways, depending on the level of coverage you choose. If you have a comprehensive restaurant insurance policy, you’ll be covered in all different types of events, such as:
A) Physical damage is done to your restaurant
B) Restaurant equipment gets damaged or stolen
C) Food contamination occurs as a result of a power outage or other strange circumstance
D) An employee or customer slips and falls in your restaurant
E) A customer gets sick after eating in your restaurant
F) An employee gets hurt on the job
G) An intoxicated patron of your restaurant causes harm to himself or someone else
In every one of these cases, the proper restaurant insurance will cover your business and protect you against the huge expenses these events can cause. For example, if you have liquor liability coverage and a customer who has been drinking gets behind the wheel and wrecks his car on the way home, your insurance will protect you against the huge costs of a lawsuit. Without insurance, you could face a costly lawsuit that may bankrupt your business.
Restaurant Insurance Mitigates Risk
If you own a restaurant, you have to learn how to deal with risk. There are certain risks that are inherent with running a dining establishment. Restaurant insurance is an essential tool for controlling these risks, and the right combination of coverage can help protect and preserve your business interests.