Insurance for Restaurants – Protecting Your Restaurant
Proper restaurant insurance is as important to the future of your business as a mouth-watering menu and good customer reviews. Running the day-to-day operations of a restaurant gives you plenty to worry about. You don’t need to add restaurant insurance coverage concerns to the list. That’s where the Lambert Agency® can help. We’ll take all the questions out of insurance for a restaurant business, so you can focus on what you do best.
Here are some common concerns most restaurants should think about, along with some ways we can partner with you and protect your business with a solid restaurant insurance policy.
Common Questions About Working With the Lambert Agency®
You probably have questions about the best ways to protect your restaurant. Here are a few of the most commonly asked questions related to business insurance for the food service industry. Contact the Lambert Agency to help answer your additional questions.
Q: What specific coverages do restaurants need?
A: Here are some of the coverages you should consider:
- Food Spoilage Coverage
- Food Contamination Coverage
- Equipment Breakdown Coverage
- Employment Related Practices Coverage
- Business Interruption Coverage, to reimburse you for lost income when your business is temporarily shut down
- Coverage for risks related to customers’ credit cards and information
- Recharge and clean-up expenses as well as lost income replacement when your automatic extinguishing system discharges
- Liquor Liability Coverage
Q: What can I expect from the Lambert Agency?
A: Our agents will deal with you directly making insurance a stress-free experience:
- We have specialized coverages unique to restaurants.
- We understand that you work long hours, leaving little time to shop for insurance. That’s why we will come to you when it is convenient for you.
- We make sure you receive all qualifying discounts.
- We offer free loss control service with professionals who can do on-site reviews of your restaurant.
- Plus loss control resources you can use on your own.
- Our business Care ReviewSM program makes sure your insurance is keeping pace with your business.
- Our professionals handle claims 24/7.
Q: Can the Lambert Agency meet both my insurance and financial needs?
A: Not only can we protect your restaurant, but we also offer a full range of personal insurance products, as well as financial services and mortgage and banking expertise. So we can cover your home, cars, mortgage, investments, business property, business vehicles, as well as special issues like workers compensation, life insurance and umbrella coverage.
Q: If I have several locations, do I need to have several policies?
A: No, the Lambert Agency can insure all of your locations on one policy, saving you money and paperwork.
Q: Is it cheaper to buy multiple policies from the same insurance company?
A: Yes
Q: What can the Lambert Agency do to help me as my business changes?
A: We offer free, periodic insurance reviews, called Nationwide Care ReviewsSM, to make sure your insurance is keeping up with your business. Plus, we always stay in tune with new trends affecting your industry, so we can adapt our coverages to provide the best protection for your business.
Q: What type of coverage is often overlooked in my industry?
A: Debris Removal – Hauling away steel and concrete after a disaster can add up quickly. Most property insurance policies include a limited amount of debris removal coverage. Higher limits are available through Debris Removal Coverage.
Flood Insurance – the Lambert Agency does not offer flood insurance, but your agent can connect you to the National Flood Insurance Program, government-sponsored insurance that offers up to $500,000 in coverage.
Ordinance or Law – This insurance can protect you if your building is ordered to be torn down and rebuilt to code after a loss. Many times, extra expenses are involved that cannot be accounted for when your building is valued. This coverage will not only pay for the damage to your existing building, but also for the undamaged portion that is to be torn down, the demolition costs, and the removal of the debris.
Q: What is umbrella insurance?
A: It’s a way to add higher limits to your existing insurance. For example, if your current liability policy covers a $1 million lawsuit and you are successfully sued for $2 million, umbrella insurance can cover the difference. Best of all, we can provide this excess liability coverage over your business vehicles as well as your business liability.
Q: How do I pay my premiums?
A: Various options are available, including monthly and quarterly. Contact an agent to work out the best plan for your business.
Q: How is the Lambert Agency rated, and what does the rating mean?
A: Nationwide is rated A+ (Superior) by A.M. Best, an independent insurance benchmarking group. Only companies that have a superior ability to meet their ongoing obligations to policyholders earn this high rating.
Q: What do I do if I have a claim?
- Call us at (205) 879-7283
- Visit our claims center