4 Tips in Purchasing Insurance for Your Hotel or Restaurant

​Restaurant insurance is a very complex topic, with different risks at every corner. These days, it’s challenging to purchase restaurant insurance solely on the internet for any establishment type. Although you can fill out quote forms online, it’s still not reliable. To provide the best protection for your business, follow these tips below.

Focus on Different Niches in the Restaurant Industry
One factor that may be complicated is that there is not a single insurance company that can all or most types of restaurants at an affordable price. What reality shows is that several companies provide insurance to restaurants, and most of them concentrate on niches related to the hotel and restaurant industry.

Invest in Multiple Policies to Ensure Protection
Most of the time, restaurant businesses purchase several policies at once to cover the four practical insurance coverages from various insurance companies. Although a single bill and policy might be of more convenience, it is merely not possible or would either provide inadequate coverage or be more expensive.

Captive Agent Vs. Independent Agent
In arranging your restaurant’s insurance coverage, you can visit a captive agent; however, these agents usually only represent a single company. They will try to provide the best coverage choice for you, but it’s highly unlikely since they only represent one market. One alternative is to have an independent agent that represents several companies to arrange your insurance.

However, remember to keep in mind that every independent agent represents various rosters of insurance companies. They also rarely specialize in restaurants and the other needs of the industry of hospitality, which means they may lack the expertise in advising you about your potential risks and the best way to ensure them. Find an independent agent active in providing restaurant insurance.

How to Make Sure Your Agent Specializes in Restaurant Insurance
You can ask specific questions to your agent, such as the number of restaurants they insure. Allow them to provide a list of at least five establishments that are the same type as yours. Once you obtain this information, you now have the peace of mind in knowing that you have a knowledgeable agent at your hands with access to various insurance companies focusing on this complex sector of the industry.

Purchasing restaurant insurance can be a complicated and confusing topic to dive in, which is why it’s always best to find the best insurance agent for the job to provide you with the best advice. Make sure your establishment gets the best protection now!

At Desmond Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (859) 491-5100. You can also request a free quote by CLICKING HERE.