If you want to open up a restaurant, before you open up the doors, make sure that you have all the right types of insurance in place. Here are a few extra types of insurance outside of general liability insurance that you should look into.
#1 Workers Compensation
Most states require you to carry a workers compensation insurance policy. Some polices are regulated and run by the state, and all you need to do is opt into them. Other states require you to secure your own policy. The amount you pay for workers compensation policy is based on the number and type of employees that you have on your payroll. If an employee ever gets hurt on the job, workers compensation insurance will ensure that they get the medical and financial assistant they need while they are healing.
#2 Unemployment Insurance
If you fire an employee, they have the option of applying through the state for unemployment insurance. If it is found that they have cause to quality for unemployment insurance, you are technically obligated to pay for this benefit for them for a set-period of time or until they find a new job. This is another requirement by the state that have to meet before opening for business.
#3 Liquor Insurance
If you are selling liquor, beer or wine at your establishment, you are to need get special liquor insurance. This will help protect you should something happen because of the consumption of liquor in your establishment. For example, if a customer were to get into a fight and be drunk because of what they consumed at your restaurant, your liquor insurance would kick in and provide you with the legal and financial assistant that you need to deal with the situation.
#4 Food Contamination Insurance
Since you own a restaurant, all of your cash flow is generally invested in some very valuable product, your food. If something were to happen and your restaurant where to lose power and the food were to go bad, or if a piece of equipment were to stop working like your refrigerator and the food inside of it were to go bad, that could be a huge financial loss and hit for your new restaurant to take. Food contamination insurance is designed for situations like this. If your food is contaminated for any reason, this type of insurance will provide you with the cash you need to purchase food and get your restaurant going again.
For more information, visit a site like http://www.blondininsuranceagency.com.