| Webster’s dictionary defines insurance as | | | | may or may not get stopped, and the car really only |
| coverage by contract in which one party agrees to | | | | cost you a few hundred so you don’t feel the |
| indemnify or reimburse another for loss that occurs | | | | need to invest in insurance. You’ll take your |
| under the terms of the contract. Restaurant | | | | chances. Not with owning a restaurant. Here are a |
| insurance does just that; protects your dream. Now | | | | few examples of how important insurance can be: |
| that you’ve decided upon the sector or area of | | | | 1. A customer calls and complains of food poisoning |
| the business that interests you, namely fish and | | | | and threatens to sue. |
| chips, there are a few steps to keep in mind when | | | | 2. A customer had one too many drinks the night |
| purchasing insurance and where to buy it. Before | | | | before, crashed his brand new Navigator on the way |
| you’ve even scouted out a location, you need to | | | | home, and feels it’s your entire fault. |
| do your homework and shop around. Let’s begin. | | | | 3. You hear a ruckus in the restaurant and proceed |
| What Should My Fish and Chip Shop Insurance Entail? | | | | to find an elderly woman having a near stroke |
| Your investment may have emptied your life savings, | | | | because she’s just found a roach in her food. |
| or turned that 2nd mortgage into your 3rd, either | | | | 4. Plagiarism (the unauthorized use of your recipe, |
| way, you need to make sure your restaurant is fully | | | | restaurant name, special dish names, etc.) |
| protected. Here are just a few of the areas to | | | | 5. Your nephew, whom your sister begged you to |
| consider: property and liability, employees, auto | | | | hire to park cars, just wrecked one and the owner is |
| (company car/van/truck, etc.), crime , garage | | | | suing him. |
| keeper’s (valet parking), food contamination, | | | | Get it? Good. Let’s move on. |
| liquor, life insurance, specific perils (fire, flood, nature, | | | | Where do I Buy Fish and Chips Shop Insurance? |
| broken windows, etc.), business interruption (illness | | | | Shop around. The internet has placed the world at |
| disability/death of owner, failure to thrive) and | | | | our fingertips. A very good suggestion is to first find |
| multiple locations. You also need to know who your | | | | you an experienced insurance broker. He not only |
| clientele will be. Is if family oriented? Will there be | | | | knows the best places to look, but can help you |
| children running about? Is it near a ski resort or | | | | understand insurance jargon, terms, and where to |
| popular vacation area where clientele will be drinking? | | | | get the most for your money. Remember, cheaper is |
| And note this, if you took out a loan, banks usually | | | | not always better. You get what you pay for. You |
| require particular insurance and insurance amounts to | | | | can also ask other restaurant owners in your area, or |
| satisfy the loan agreement. | | | | in a similar sector as you. But do your homework so |
| Why Do I Need to Buy Restaurant Insurance? | | | | your dream can last a lifetime. |
| Running a restaurant is not like driving a beater. You | | | | |