Minneapolis Restaurant Owners

Restaurant owners need several different types of insurance. Most are mandated by either the state or by necessity (protecting a lender’s investment, for instance).

Minneapolis adds its own flavor to the mix. The city requires that businesses, including restaurants, maintain a Certificate of Liability Insurance. This certificate serves as proof that your establishment can cover potential damage or injuries that might occur on your premises. Basically, it shows your –

We talked briefly about liability insurance above because the city requires it. Let’s look at the high points here. Liability insurance protects you against claims of bodily injury or property damage resulting from your business operations. For instance, if one of your customers slips on a wet floor, this insurance can cover medical expenses and legal fees.

Property insurance is a must-have, whether you own the property or you’re leasing it. It protects your building and its contents, whether that’s the kitchen equipment or dining area furnishings from damages caused by events like fires or vandalism.

Here’s a better breakdown of what’s covered:

• Physical Building: Property insurance covers damage to the physical structure of the building that houses your restaurant.

If your restaurant serves alcohol, this policy is not negotiable. Any business that serves, sells, manufactures, or distributes alcohol is required to carry it. Liquor liability insurance addresses claims related to damages or injuries –

In the unfortunate event of food spoilage or contamination, this policy can cover the costs of replacing inventory and potential legal claims from affected customers. Note that it’s sometimes called food liability insurance, but it amounts to the same thing. And, for those who’re paying close –

Chances are good that if you don’t do catering, you probably don’t think you need commercial auto insurance. That’s not the truth. Your personal auto insurance policy won’t cover you if you’re involved in an accident while handling work-

In Minnesota, if you have any employees, you’re required by law to carry workers’ compensation insurance. If you’re a sole proprietor and no one else ever works for you, you don’t need to carry it. However, it’s still a good idea to have a policy so that you’re protected if you’re hurt on the job.