How can restaurants protect themselves with silver service insurance policies?

October 20th, 2018
Restaurant Insurance

Being in the restaurant business can be profitable and gratifying – and there is a lot of room for growth. However, it also carries with it significant risk, from a range of factors, such as dealing with members of the public, food service and managing staff. A silver service insurance policy will ensure that your business has adequate cover to protect its reputation and operations should anything happen.

The key protections under our Silver Service Restaurant insurance policies

Problems with employees

 A restaurant can be a hazardous place for employees, from the knives in the kitchen to the potential for spills and trips that can occur at any time. If employees are hurt while carrying out their role then they may be entitled to seek compensation from the business. This could escalate to a fairly sizeable claim, depending on the injury involved. Insurance protects the business in a situation like this with options to cover the cost of legal fees, as well as any payout under a claim.

Contaminated food

Food that has spoiled or become contaminated is probably any restaurant’s worst nightmare. If that food is accidentally served to customers it can be disastrous for the reputation of the business and could trigger a high volume of claims against it if it results in injury or illness. With a silver service insurance policy in place there is protection if something like this should accidentally occur and need to be dealt with.

Issues with members of the public

Public liability insurance is an essential for any business that has interactions with members of the public on a daily basis. This could be a customer whose property is damaged while they are at the restaurant or it could be a visitor to the premises – such as a supplier – who is injured by a trip hazard or something falling. Insurance is key to handling issues like this quickly and effectively, providing options for defending claims and covering costs.

Destruction of property

 For any restaurant the premises are absolutely crucial to business continuity. Should something happen to those premises most businesses would cease to trade until the issue has been fixed. With silver service insurance, it’s possible to protect income to enable the business to continue until premises are returned to a habitable and usable state.

Equipment and contents

From ovens to tables and chairs, most restaurants have a high volume of equipment and contents that is vulnerable to everything, from theft to fire. Insurance protection ensures that these can be replaced to enable the business to continue functioning, no matter what occurs.

Personal protection

 For any business owner, it’s important to stay at the helm and to be involved in key decisions. If something happens to prevent that then the business may start to sink. With insurance in place there is a safety net if something does happen to a business owner so that continuity can be preserved and staff will have a good idea of how to go forward.

If you’d like to find out more about insurance solutions for your restaurant, please get in touch with Morgan Richardson today.