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hospitality

Restaurant Insurance

Central Florida has a tremendous amount of different restaurant concepts to offer tourists, locals, and foodies. With its world class attractions and unique tourist destinations, the City of Orlando and surrounding areas attract a fantastic food culture and exceptional Restaurateurs. Offering a dynamic cuisine and impressive atmosphere to customers is only one part of operating a successful restaurant. Managing risk in this high paced environment is critical to maintaining a profitable, high performing restaurant. Erb and Young can help identify what these risks are including but not limited to the following:

  • Managing a restaurants Workers Compensation MOD to ensure improper reporting is not taking place which can lead to higher Workers Compensation insurance premiums
  • Unintentional Employee overtime abuse
  • Improper fire hazard controls
  • Improper liquor controls
  • High traffic slip and fall areas
  • Spoilage of perishable goods
  • Equipment failure of important machinery

Formal risk management practices, processes, and procedures are always the best and most effective way to manage risk as they mitigate and/or eliminate the risk(s) all together. Having an experienced agent who specializes in the restaurant and dining industry is extremely beneficial to a Restaurateur and/or General Manager as they focus on reducing risk first rather than simply offering the option to purchase more insurance. Once all steps have been taken to greatly reduce the likelihood of a loss occurring, an operator can choose to transfer the remaining risk to an insurance company through the purchase of insurance products such as:

  • General Liability
  • Commercial Property
  • Hired and Non Owned Auto Liability
  • Commercial Auto (delivery or non delivery)
  • Commercial Umbrella
  • Spoilage
  • Employment Practices Liability Insurance (EPLI)
  • Workers Compensation
  • Employers Liability
  • Equipment Breakdown
  • Sign coverage
  • Business Income and/or Business Interruption coverage
  • Electronica Data Processing
  • Employee Theft
  • Cyber Liability
  • Legal Services Plan

Some factors can be very important to the placement of these types of insurance products. They can impact eligibility and pricing. Some examples are:

  • Hours of operation
  • Food Delivery
  • Amusements and Live Entertainment
  • Catering
  • Percentage of alcohol sales compared to food sales

Speaking with an experienced Erb and Young insurance agent can greatly increase a restaurants ability to manage its risk. An on-site, front and back of the house walk through is a service that we offer for free. We can help you identify the risks that are present and prioritize them based on your personal risk tolerance. Here at Erb and Young we are foodies and insurance nerds! We would love the opportunity to be a part of your success.