Healthy Fast Food Restaurants Insurance – Cost and Coverage

Whenever you budget the expenses of your business, healthy fast food restaurants insurance must be high on the list because you can’t always know exactly what could happen in the future.

With the protection provided by insurance against accidents and all the other types of insurance we will tell you about, you can protect your business and yourself in case something unwanted happens.

Like any business owner, for your healthy fast food restaurants enterprise, you must consider how much financial risk you are taking on.

If your healthy fast food restaurants business runs without proper insurance, you are taking a tremendous chance not just of losing some money but of a complete wipe-out.

This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions. 

In this article, we are giving very general guidelines for growing businesses to outline what the main kinds of insurance that you need are, and where available, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your healthy fast food restaurants business?

What this means, for any healthy fast food restaurants business owner, is that if some person claims that your business caused them some physical or economic damage, a court can award damages far beyond the total size of your business.

Your healthy fast food restaurants business is not protected by laws in the same way as states are, where laws can place a “cap” on the maximum level of liability.

In some states, like Montana, there are specific monetary levels that limit the amount a judge can award in any case against the state.

In a court case, it’s purely the privilege of the jury to award whatever amount they deem appropriate, even sometimes giving a plaintiff more than they have sort.

When you are running your healthy fast food restaurants operations, you can’t deny responsibility for the outcomes of your actions.

Even more importantly, unless you have spent beforehand the money necessary to have your business running as a limited liability company, all of that liability belongs to you as a person.

What does healthy fast food restaurants insurance protect you from?

For your healthy fast food restaurants business, the most important kinds of insurance are designed to cover the risks to your business from accidents, from unexpected events, and from mistakes.

As well there are some official kinds of insurance that various states require.

In the next few paragraphs, we will describe the most important points any healthy fast food restaurants business owner should consider when negotiating the insurance needed.

The main types of insurance for your healthy fast food restaurants businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any healthy fast food restaurants business is dealing directly with customers, and that means you generally have the danger that some accident can happen to them themselves or else something of theirs can be damaged.

In such a case, they can demand compensation.

General liability insurance policy for your healthy fast food restaurants business insures you against claims coming from injury to clients or damage to their property.

It protects your healthy fast food restaurants business from the claims themselves and in addition to any associated court costs and legal fees of the lawsuits.

In many cases, it can also help you to qualify for extra business from city and state organizations, where contracts insist on proper liability insurance.

The average level of general liability insurance for your healthy fast food restaurants business would be with a upper limit of $1 million for a single claim and a total of $2 million for the whole year.

See the table in the costing section below for average prices of general liability insurance for your healthy fast food restaurants insurance operations.

Professional liability insurance for your healthy fast food restaurants business

In the event where a customer alleges some negligence, errors, or omissions in how you conducted your healthy fast food restaurants business for them, you can quickly face a court case.

Even if the lawsuit against you is ruled in your favor, the cost of defense can be large, and the impact on your reputation can be damaging.

Almost all small healthy fast food restaurants business should have enough professional liability insurance to cover a single claim of $25,000, with annual cover of $50,000.

See the table in the cost of healthy fast food restaurants insurance section below for average prices of professional liability insurance for your healthy fast food restaurants operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that clients may claim that what they received didn’t meet your description of function, or that your guidance was basically incorrect.

You need to know the specific laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held liable for damages caused by products claimed to be defective.

To cover yourself against any likely lawsuit, you need Product liability insurance for healthy fast food restaurants

Only you can know exactly how much insurance you need.

Best advice is to talk to experienced insurance agents, brokers or company representatives for help.

Commercial insurance

Commercial vehicle insurance for your healthy fast food restaurants business

Take care! – almost all policies for private vehicle insurance do not cover any event like theft or accidental damage when the vehicle is being used for business purposes.

The best way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a proper commercial vehicle insurance package.

Commercial van policies guarantee the value of any vehicle in case of accident, malicious damage, fire, or theft.

Also, in case of any accident, the van itself, the content and any legal bills, medical expenses, and property damage is covered if your van is involved in a collision.

Most states, other than Virginia and New Hampshire, require this type of insurance.

The wanted value of the insurance is calculated on the depreciated value of the vehicle, and your declared level of cover of contents. 

Tools and Equipment insurance

Since your healthy fast food restaurants business needs unique and expensive equipment, you know how much it can cost to replace it in case of any damage, loss, or theft.

The tools may be subject to malicious damage, deliberate fire, theft, other such unforeseen acts.

As well, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can wipe-out your whole business in one stroke.

Unless you can afford to immediately replace such specific gear quickly out of your own pocket, you must have full-level equipment insurance so that you can immediately buy any equipment needed to keep your healthy fast food restaurants business running.

It is impossible to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your healthy fast food restaurants business’ equipment.

Commercial Property insurance

Any healthy fast food restaurants business that owns or rents space in a building needs a commercial property insurance policy.

If you own the property, you may already have a substantial capital investment, along with a big liability if there’s a mortgage.

Your physical building location should carry insurance coverage for the value of the premises and contents against unexpected occurrences like fire and storms, and against man-made damages like theft and vandalism.

If your healthy fast food restaurants business operates in areas of high risk, like Florida or South Carolina, extra coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where extreme cold snaps can cause damage to outer coverings of healthy fast food restaurants business premises, there is a need for more extra cover than in warmer climes.

Whereas the level of cover depends entirely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of healthy fast food restaurants insurance section below to give some estimate of the average prices per million dollars of property insurance for your healthy fast food restaurants business.

Temporary insurance by month, week or day for your healthy fast food restaurants business

Is your healthy fast food restaurants business working part-time or casually, or is the level of business fluctuating?

Using short-term insurance makes perfect sense. Business insurance by the month, day, or week – temporary insurance for healthy fast food restaurants – are special policies where you can cover a specific period when you want to be covered.

By only paying for that period of cover, you will save by having reduced premiums but still having adequate risk cover.

The essential feature of short-term insurance is that you purchase the cover for a defined period – a designated date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.

When you are expecting periods of higher business activity, get the existing cover improved.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your healthy fast food restaurants business

You have the choice to combine most of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP merges commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.

BOP insurance will cover you if any claims of injury or property damage are made.

It is often the right choice for small and medium-sized healthy fast food restaurants businesses, such as yours.

There are two limits that will rule whether BOP is suitable for your own business.

BOPs do not cover your professional liability or commercial vehicle policies.

Also, the size of your business will dictate whether you are permitted to take out BOP cover.

The usual business that is eligible for a BOP policy must have less than one hundred employees, and not more than five million dollars in annual revenue.

In addition, you must separately take out the required worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your healthy fast food restaurants business employees

In most states, it is mandatory to have workers compensation insurance when your healthy fast food restaurants business has one or more employees.

Workers compensation insurance covers the business against any costs that arise if a worker experiences an injury or becomes sick as a result of work.

The benefits include medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s requirements in this regard can leave you as the employer obliged to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only permit coverage from the government-run monopoly state funds.

In these states, you may not obtain your workers compensation obligations from private insurance companies.

Workers compensation premiums are worked out based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must see the relevant authorities in your state.

Average costs of these types of insurance

Although every healthy fast food restaurants insurance need is unique, there are enough examples of usual quotes from insurance companies for us to give rough guidelines, including what are the cheapest rates offered.

Of course, you should always check with an insurance representative what’s relevant for your business.

The list below is of annual premiums we have collected for the main types of insurance your healthy fast food restaurants businesses needs.

Cost of insurance for your healthy fast food restaurants operations depends on many different factors.

We have calculated these figures for small independent healthy fast food restaurants businesses.

In larger states like New York, premiums are generally about 20%-30% higher than national averages, but in smaller states like New Mexico, they usually are about 20%-30% cheaper.

The location and size and type of your healthy fast food restaurants business can have a big effect on the cost of different policies.

You should consult with professional insurance agents and brokers, or insurance company representatives.

In addition you can let the internet do the work for you by searching for insurance companies near where your business is located.

Another useful source of information is the local Better Business Bureau in your city.

FAQ

What is small business insurance for healthy fast food restaurants operations?

This is a general term used to describe common insurance policies designed to protect healthy fast food restaurants business owners from risks like bodily injury, property damage, claims of negligence.

Does my healthy fast food restaurants business have to have insurance?

Some of the kinds of insurance are not mandatory for you to run your business, but they can protect you from risks in your business operations.

Several other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small healthy fast food restaurants business insurance policy cover?

Liability insurance provides protection against lawsuits or claims filed by a customer for bodily injury, property damage, or negligence.

The specific cover will vary based on your own operations.

See the table in the costing section above for average prices of the most common policies for healthy fast food restaurants insurance.

How much will healthy fast food restaurants business insurance cost?

On top of the size of the business, some other factors, such as location and claims history, are used to determine your policy’s cost.

You should consult with professional insurance agents and brokers, or insurance company representatives.

You can search for more information insurance for healthy fast food restaurants, in the search box below, and follow the relevant links.

Related Industries:

Fast Food Restaraunts Insurance – Cost and Coverage Fast Food Manager Insurance – What Kind and at What Cost Fine Dining Restaurants Insurance – Cost and Coverage Buffet Restaurants Insurance – Cost and Types Of Policies Carryout Restaurants Insurance – What Kind and at What Cost Family Style Restaurants Insurance – Cost and Types Of Policies Fusion Restaurants Insurance – What Kind and at What Cost Pizza By The Slice Restaurants Insurance – What Kind and at What Cost Sushi Restaurants Insurance – Cost and Types Of Policies Food Service Specialist insurance – cost and coverage Food Service Supervisor insurance – cost and coverage International Food Stores Insurance – Cost and Coverage