Detroit Restaurant Insurance
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The Right Combination to Protect Your Restaurant. Discover: Detroit Restaurant Insurance.
Running a Restaurant in Detroit, MI
Thinking about starting a restaurant in The Motor City? Detroit’s renaissance means it’s a smart time for restauranteurs looking to make their dream a reality. Whether you’re planning a pizzeria serving up Detroit-style pizza, an Americana restaurant with burgers and coney dogs, or a local bakery serving up fresh-made double-baked rye bread and other baked goods, the city’s a –
great place to call home.
The challenge is that finding the right combination of Detroit restaurant insurance policies isn’t as easy as it sounds. You have city requirements, state requirements, and smart-to-have policies. In this guide, we’ll touch on what policies you need.
What Insurance Do Detroit Restaurants Need?
What Insurance Do Detroit Restaurants Need?Detroit has its own requirements and risks, so making sure you’re properly covered is essential. Here’s what you’ll need:
General Liability Insurance
Accidents happen. If a customer slips on a wet floor or gets food poisoning, general liability insurance protects you from lawsuits, medical expenses, and legal fees.
Liquor Liability Insurance
If you serve alcohol, you need this coverage. Michigan holds establishments accountable for alcohol-related incidents, so liquor liability insurance can protect you from costly claims.
Equipment Breakdown Insurance
Kitchen appliances are the heart of your restaurant. If your walk-in cooler or stove suddenly stops working, this policy covers repairs and replacements.
There you have some of the most important Detroit insurance types, but there’s more to think about here.
Workers’ Compensation Insurance
Michigan law requires any business with employees to carry workers’ comp. If one of your cooks or servers gets hurt on the job, this coverage helps with medical bills and lost wages.
Commercial Property Insurance
Detroit’s harsh winters, fires, and theft risks make this a must. Property insurance helps repair or replace your building, equipment, and inventory if disaster strikes.
Other Essential Insurance for Restaurants
Other Essential Insurance for RestaurantsSome insurance policies aren’t required but can help protect your business from financial ruin:
- Business Interruption Insurance – If a fire, power outage, or other disaster forces you to close, this insurance replaces lost income while you get back on your feet. This also applies to shutdowns related to things like virus outbreaks that force you to close your doors.
- Food Spoilage and Contamination Insurance – If a power outage spoils your ingredients or a health inspection shuts you down due to contamination, this coverage helps cover losses.
As you can see, there’s a lot to think about when it comes to buying Detroit restaurant insurance. A helping hand can go a long way toward making an informed decision. If you need a little guidance, turn to the team at Farmer Brown.
- Cyber Liability Insurance – Credit card fraud and data breaches can happen to any business and small businesses are being targeted much more frequently today. This policy protects you from financial and legal fallout if customer data is stolen.
- Employment Practices Liability Insurance (EPLI) – If an employee sues for wrongful termination, discrimination, or harassment, this coverage helps with legal fees and settlements.
Why Farmer Brown?
Getting the right insurance isn’t just about following the law; it’s about protecting your restaurant, employees, and customers. With the right policies in place, you can focus on what you do best: serving great food to the people of Detroit.
The problem is that even if you know about the various types of –
restaurant insurance available, there’s no one-size-fits-all solution. The team at Farmer Brown can help you find the right combination of policies to protect your business. Contact us today to get a free quote and learn more about which policies you’ll need.
Frequently Asked Questions
Yes, Michigan law mandates liquor liability coverage for any establishment (bar, restaurant, brewery, etc.) serving alcohol. It helps protect you from alcohol-related incidents and lawsuits.
Failing to provide workers’ comp can lead to hefty fines and legal penalties. If an employee gets injured, you could be personally liable for medical costs and lost wages.
Yes, most policies cover theft, but it’s important to review your coverage limits and any exclusions in your policy. We can help make sure you get the right coverage for these kinds of risks.
If you process credit card payments, you’re still at risk of data breaches. Cyber liability insurance protects you from fraud and potential lawsuits.
Costs vary based on location, restaurant size, and coverage needs. On average, expect to pay between $3,500 and $10,000 per year for comprehensive coverage.
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