The COVID-19 pandemic has taught business owners to expect the unexpected – including having to shut down your business with little or no notice. In particular, restaurant owners probably spent many nights worried about their restaurants' future and working to ensure they would still have doors to open again once they were allowed to do so.

If you own a restaurant, many things might keep you up at night, including:

• What if the fryers aren't turned off, and there is a grease fire?
• What if I forgot to lock up, and the restaurant is broken into and vandalized?
• What if I hired the wrong person for the job?
• What if my delivery staff get into an auto accident?

If you own a restaurant, you need to make sure you are covered against the unexpected.

Commercial General Liability

Commercial general liability (CGL) is a type of insurance policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by its operations, products, or injuries that occur on the business's premises. Commercial general liability is considered comprehensive business insurance, though it does not cover all business risks.

Business interruption insurance

Business interruption insurance covers ongoing expenses, staff wages, the profit you would have lost, and it pays to get you up and running again. Some of the applicable situations would be if

• Your business is severely damaged by a fire
• A natural disaster levels your office
• An explosion is caused by pressure vessels or gas lines.

Specialty Insurance Products – Crime Coverage

If you serve high-end liquor and wine at your restaurant, you should consider obtaining Crime Coverage Insurance. Thieves (including employees) do not need direct access to cash to steal from you; merchandise, supplies and securities are all fair game. You may also be susceptible to losses if finished products or even raw materials are stolen from you. Essentially, any product can be a target for thieves if there is an opportunity to make a resale profit.

Employment Practices Liability Insurance

From the moment that you start the pre-hiring process until the exit interview, you are vulnerable to a lawsuit. As a result, your business should consider whether it can afford to defend itself against alleged wrongful employment practices accusations. If not, there is an insurance solution called Employment Practices Liability that protects against wrongful termination, discrimination (age, sex, race, disability, etc.) or sexual harassment suits from your current, prospective or former employees. This coverage applies to directors, officers and employees, and can sometimes extend to third party liabilities.

Non-owned auto policy

As a restaurant owner, you may rely on your employees to use their vehicles to make deliveries and/or run business-related errands. Like your personal auto policy, commercial vehicle insurance provides similar coverages such as liability, collision, comprehensive, medical payments (or personal injury protection) and uninsured motorist coverage.

Disruptions of one’s business, such as a fire, burglary, an accident or a pandemic, can have catastrophic consequences on a business’s ability to recover. Protect your business, your employees, and your clients. OTC Insurance Brokers is ready to meet all of your business insurance needs, including commercial auto, umbrella, liability, terrorism, property insurance and more. Get started with a free quote.