You are an integral part of India’s hospitality sector. With your commitment and sheer passion you have built this business brick by brick. Shouldn’t you be thinking about protecting this baby of yours from various risks?
Restaurants, hotels, bars and cafes
Business Insurance for Restaurants
Your business is exposed to many risks. There is insurance to protect you from all of those. Listed below are some of the ways in which you could insure your business and its assets against various risks.
You can get insurance protection for the following assets of your business that you own:
- the building (s) in which your business operates
- contents of the building including furniture and furnishings
- any interior design work that you have done for your business
- electrical and electronic appliances like fan, AC, refrigerator, generator
- portable electronic equipments like laptops, printers
- any machinery that you use for your business
- plate glass
- neon signs
These assets can be protected against fire, flood, inundation, storm, tempest, terrorism and earthquake.
You can get insurance protection for valuables that you may have inside the building purchased for your business. These can include any antiques, curios, gold and other jewelery. You can protect these against theft, burglary and damage from other loss events.
You may be storing money inside the building or money might be in transit between bank and your business or between two locations of your business. Some of your employees may be handling money on your behalf. There is a risk of them defrauding you. You can protect the money against theft, burglary and fraud.
Your employees are a big asset of your business. You have spent a lot of time and possibly money to recruit them. You can protect your employees against injury, salary loss because of an injury or even the medical expenses.
You might have purchased vehicles to run your business. You can protect these vehicles against accidents, third party damage and liabilities.
Your employees or your customers might wage a legal battle against you or your business. This coverage protects you against those legal proceedings.
There may be situations when you might not be able to run your business for a finite period time. This may be due to fire or flood that might affect your operations. You can cover the profit loss that you incur from such a closure through a coverage called business interruption insurance. We have explained about this in detail in an article that you can find here.