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A catering business can be fun and rewarding, but it can also be overwhelming as you attempt to wear several hats – a necessity when you own a business. Whether you run your catering business as an extension of a restaurant or from your home, you will likely cater functions off premises. You will need catering insurance to protect you against some of the risks unique to catering.
There are several coverage options available. An insurance provider can help you decide which coverage options you will need to meet the challenges and needs of your catering business.
Liabilities
There are three types of liability insurance – general liability, product liability, liquor liability. General liability protects you in the event a customer files a suit against you. When you take your business into the home or onto the property of a customer, accidents can happen. For example, an employee might spill food or beverage onto your customer’s expensive sofa. General liability insurance covers damages caused by you, your equipment, or the actions of an employee.
If you sell prepackaged foods to your customers, you may need product liability insurance. Product liability insurance covers damages caused by using one of your products. One example might be a customer having an allergic reaction because one of your products is mislabeled.
Your customers may hire you to cater for celebrations such as a wedding, birthday party, or anniversary dinner. These celebrations usually include serving alcohol. When you serve alcohol, you will need liquor liability insurance to cover claims resulting from intoxicated customers and their guests.
On the Job Injuries
One of the inherent risks for all businesses is employee accidents. Most states require companies to carry worker’s compensation insurance. Employees are hurt on the job every day. Worker’s compensation insurance covers medical expenses incurred for employees injured at work.
Property Insurance
Your catering business and its assets need protection too. You might lose the building, equipment, and inventory in a fire. An insurance provider can customize this coverage to include losses caused by power failure or equipment breakdown.
Catering Off-Premises
Catering is typically done off-premises. Off-premises coverage follows your equipment protecting it while moving it and once it is on location.
Customization
An insurance provider can customize catering insurance that includes coverage options that are best suited for your catering business and its individual needs. Catering insurance with the right coverage will adequately protect you. You have devoted countless hours to building your business. Insurance coverage it is an essential step in ensuring it is successful and will give you the peace of mind you need.
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