Catering businesses are often required to carry liability insurance. It is also recommended to carry general liability insurance.
General liability insurance covers the costs associated with injuries caused by the catering business. Liability insurance covers the costs associated with someone getting injured at a catering event.
If you own catering business, you should consider purchasing both types of insurance. This will ensure that your business has adequate coverage in case something goes wrong.
What does it cover?
Insurance for catering business can be purchased as an endorsement on your current auto policy or through another insurer like Insuranks Insurance Company. The cost depends upon how much coverage you need and what type of vehicle you drive.
The most typical type of liability insurance is called “commercial” which protects against claims made by third parties who have been harmed while using your services. If you provide food service, this could include customers, vendors, employees, contractors, etc.
The second kind of liability insurance is known as “personal injury” insurance. Personal injury insurance protects people from being hurt when they come into contact with your products or services.
How to get started?
Contact your local agent today! We offer free quotes online so there’s no reason not to start shopping around now. You’ll find our agents easy to work with and we’re here to help answer any questions you may have about insuring your catering business.
Business owners know that having good customer relations is important to their success. But many don’t realize just how difficult it can be to maintain those relationships once they’ve established them.
In fact, according American Customer Satisfaction Index, only two out of every 10 companies actually achieve high levels of satisfaction among their clients. That means 90 percent of all small-businesses fail miserably when it comes to keeping happy customers. And yet, these same businesses spend millions each year trying to improve their client retention rates. So why aren’t more businesses succeeding?
How much is liability insurance for food?
It really doesn’t matter whether you serve hot dogs or filet mignon; the bottom line is that you must insure yourself against potential liabilities. In other words, you want to ensure that if anything were to happen to your guests, you’d still be able to pay off the damages.
This is where liability insurance comes in handy. When you purchase commercial liability insurance, you’re essentially buying peace of mind. The insurance company will take care of paying off any lawsuits filed against you.
Catering insurance for a day
Catering insurance covers everything from lost profits due to theft or damage to equipment to employee injuries. It also includes medical expenses incurred during accidents involving your staff members.
You might think that since you already carry general liability insurance, you won’t need additional coverage. However, even though you are covered under your homeowner’s policy. You need to add extra liability insurance.
Reasons for getting extra liability insurance
1) Liability insurance isn’t always enough. Even if you have a full auto insurance, you should consider adding umbrella policies to cover things like property damage caused by an accident.
2) The cost of liability insurance varies depending on what type of business you run. Some types of businesses require higher premiums than others. This is especially true if you own multiple locations or employ large numbers of workers.
3) Most states require certain minimum amounts of liability insurance. If you fail to meet this requirement, you could face fines.
4) Many homeowners’ policies exclude some forms of liability coverage. Make sure yours does, too, before purchasing another policy.
5) A lot goes into running a successful restaurant. From hiring employees to maintaining inventory, there are plenty of ways that something can go wrong. You’ll never catch everything, but you can minimize risks as best you can with proper planning and preparation.
6) There are different kinds of liability insurance available. For example, you may choose between “occurrence” versus “claims made” policies. An occurrence policy pays claims regardless of when they occur. On the other hand, a claim-made policy requires that a lawsuit be filed within a specified period after the incident occurs.
7) Finally, don’t forget about deductibles! They vary based on how many people work at your establishment and how big your budget is. But no matter what kind of deductible you decide upon, you shouldn’t skimp on your liability insurance.