Insurance Advisor at Oliver L.E. Soden Agency, Inc

The Basics of Restaurant Insurance in NJ

Running a restaurant in New Jersey can have you running in circles, which may be a good thing if you’ve enjoyed one too many of your dishes for the evening. When it comes to insurance however, you don’t want to be running around, worrying about lawsuits, property damage or loss of income. By safeguarding your business with the proper restaurant insurance, you can focus on creating delicious food and happy customers.


What is a BOP?


A Business Owner's Policy, or BOP, is designed to protect your business from risks. Typically, a BOP includes worker’s compensation, general liability and property coverage. Let’s explore what these coverages mean.


  • General liability insurance: General liability provides protection if you were to cause bodily injury, property damage, personal injury or advertising injury. For example, if a customer were to fall and become injured while having dinner at your restaurant, you would be protected by your insurance.


  • Worker’s comp insurance: Worker’s comp protects you and your employees from financial hardships caused by accidents or illnesses that happen on the job. If one of your staff members burned their hand while cooking and could not work for several months, you would be protected.


  • Property coverage: Property coverage provides replacement cost coverage for buildings and possibly even your personal property. If your restaurant kitchen has a fire, your belongings would be covered.


Additional BOP Coverages


Other coverages that you may want to include in your BOP include:


  • Identity theft insurance

  • Valuable papers coverage

  • Loss of income insurance

  • Professional liability

  • Identify theft

  • Electronic data and equipment

  • Business income and extra expense

  • Employment practices liability


Why Custom Insurance Packages Matter


Your business is unique, which is why you should have a custom insurance package created just for you. When obtaining quotes from various insurance carriers, ask all the questions you need to ensure that your restaurant is covered from A to Z. An insurance agent that is happy and willing to give you a custom insurance package is ideal. They can also make sure that there are no gaps in your coverage. Businesses change, so when you do settle on an insurance provider, meet with your agent annually. Finally, ask about money you can save by bundling your policies. Many insurance agencies offer both commercial and personal insurance, so you can have all of your coverage coming from one place.


Hal Soden builds custom insurance packages for restaurant owners in NJ. Call today for your custom quote!