Irrespective of the size of your restaurant or takeaway shop, you or your business are open to various risks which can arise while discharging the professional duties. Here, restaurant insurance policy can help you, which has been specifically designed keeping in mind the divergent needs of your business.
So, if you are looking for a restaurant insurance policy, keep the following points into consideration while buying restaurant insurance –
- As per your needs, you can get restaurant insurance quotes from an individual agent or a corporate advisor. Further, you can compare restaurant insurance quotes to find the best policy as per your needs
- You can also purchase the restaurant insurance directly from the insurance company via online mode. In fact, corporate insurance advisors also let you get restaurant insurance quotes online, which you easily can compare and pick the best policy
- Whatever channel you pick, make sure you are dealing with the authorised channel. It is always good to ask questions to extract information and get clarity on your doubts
- Both agent and broker must hold an IRDAI license. It is the first thing that you must check before moving forward
- Make sure to ask and get complete details on the restaurant insurance policy, its benefits, and what the policy includes or excludes along with the claim process
Before you ask for restaurant insurance quotes, it is essential to know the following important points about the business –
- What types of establishments are covered?
A restaurant insurance policy covers all types of hospitality business, which can include bars, nightclubs, caterers, food trucks, and much more.
- What factors can affect the premium of restaurant insurance quotes?
It is important to note that restaurant insurance quotes are underwritten on the basis of the specific requirements of the particular restaurant. It means, insurance companies carefully scrutinize every application before deciding the premium for you.
That being said, here are some of the parameters which can be considered by restaurant insurance company in deciding the premium rates=
- Location
- Type of property
- Years in business
- Hours of operation
- Activities, like delivery, off-premise catering, entertainment, etc.
- Loss history
- Level of coverage
For instance, a bar which opens till 3 a.m. and 75% of its sale comes from alcohol, will usually pay higher insurance premiums than a restaurant whose closing time is 10 p.m. with no alcohol sale. Moreover, if your restaurant is taking space on the lease, you might be obligated to buy the insurance policy as per the contract.
- How much should be the coverage?
Before asking for restaurant insurance quotes, it is essential to know how much coverage you should opt for. If you buy more than what is required, you are wasting money on insurance premiums which you otherwise can invest in your business. Similarly, if you buy less than your requirement, you would have to pay a substantial amount from your pocket at the time of claim. So, stay away from both over-insurance and under-insurance situations and choose the policy coverage accordingly.
Take the help of SecureNow to Get Restaurant Insurance Quotes
As restaurant insurance policy offers a safety net to protect you against various risks and damages, it is important to make sure that you choose the best insurance policy. Here, SecureNow, a leading corporate insurance advisor, can help you.
To get restaurant insurance quotes, you would only need to enter some basic details about your requirements, and you will be given deeply researched insurance options in less than 24 hours. Further, all the available restaurant insurance quotes would be explained to you so that you can choose the right policy as per your needs. Moreover, risk held letter would be issued in 48 hours.
For all your insurance queries, experts at SecureNow are only one call away! These experts have a specialty in restaurant insurance and thus, can help you in finding the right insurance policy.
Remember, your restaurant business is the outcome of your sheer hard work, so don’t let any unfortunate event affect its success. And for choosing the restaurant insurance policy, just contact SecureNow, who would take care of all your worries both at the time of purchasing and claim.
