Restaurant owners have much to consider when designing their insurance portfolios. Here are just a few of the insurance options restaurateurs can pick from to help minimize their financial risk from lawsuits, failed equipment and property losses.

• Property insurance: Offers financial protection in the event that the restaurant’s property (either its building structure or contents) is ruined or damaged in an insurable event such as a fire or theft.
• Spoilage coverage: Provides payment if power is lost or equipment malfunctions and the perishable food on hand spoils.
• Employment practices liability: Protects against lawsuits for various employee complaints including discrimination, provided the treatment was not willful.
• Equipment breakdown: Covers the cost of repair for equipment that has broken down including cookers, refrigerators and air conditioning units. It’s worthwhile to note that if the breakdown occurs due to lack of proper maintenance, the claim may not be covered.
• Workers compensation insurance: This pays for medical expenses and some lost wages should an employee be injured on the job.
• Business continuation insurance: Provides ongoing income in the event that your business is forced to shut down. Alternatively, it could pay for some of the expenses of temporary relocation of your restaurant.
• Liquor legal liability insurance: This can help pay legal expenses and claims brought on by customers who may be injured by an individual who was drinking in your establishment.

Restaurants may also be able to secure all-in-one coverage, which is a comprehensive policy that is tailored to the many facets of risks that restaurant owners face.