Why we’re passionate about Restaurant Insurance!
Are you paying Lobster Premiums for Fish Stick coverage?
Prior to earning 10 years of insurance experience, Heritage Insurance Agency’s managing partner, Nate Bunty, Certified Insurance Counselor, gained 5 years of experience in Hospitality Services, including franchise and chain restaurant management positions, as well as server, bartender, cook, and dishwasher work.
He has grilled burgers and ho tdogs outside a Lowe’s Home Improvement superstore, as well as served dinner and drinks at private, black tie fundraiser located in a lavish mansion.
With this wealth of experience in the hospitality industry, Nate especially understands the challenges facing restaurants and can provide a thorough evaluation of your risks of loss along with the insurance solutions to those perils.
Key Elements to a PA Restaurant Insurance Program
- Correct property insurance – a lot of your investment, even in a leased space, will be considered building coverage. Most, if not all of your kitchen equipment will be permanently installed, and qualifies for the lower rated building insurance coverage.
- Business Income Coverage – if your restaurant has a drastic fire, and you are closed for weeks or months, how would that affect your income? How would that affect your employees? We can provide loss of income coverage for your business. There are a variety of formulas to calculate the correct business income coverage amount.
- Utility Service Coverage – what happens if the electricity goes out, but your business isn’t damaged? If you don’t have a generator, you are going to lose all of your food stock and you’re going to be out of business until the lights come back on. If you have Fish Stick coverage – you won’t get anything from your insurance company because your business wasn’t directly damaged.
- Employment Practices Liability Insurance – as mentioned above, Nate has worked in a lot of kitchens, and tended bar in a variety of environments. One constant, despite the level of sophistication of the situation, is that hospitality employees like to have fun. Some think this fun creates a great, family atmosphere (especially given the amount of time they spend together) others may think the “fun” is a hostile work environment. We can protect you from sexual harassment or discrimination lawsuits with EPLI insurance!
There are many more options and considerations to think about.
Schedule a review with Nate Bunty, CIC today or complete the fields below to get the process started!