EPLI coverage can protect employers from legal fees resulting from a variety of allegations, including workplace discrimination, failure to promote, wrongful termination, and harassment.
New York Restaurant Insurance
We provide impressive coverage options to address the specific risks faced by New York food service establishments, including bars, pubs, taverns, and other hospitality establishments.
Get a full-course menu of insurance coverage for your NYC restaurant or coffee shop with HCP Insurance.
Protect your business with NY restaurant insurance
Protecting your business with restaurant insurance in New York is essential, whether it’s a family-run diner or you’re a new restaurant owner. HCP’s restaurant insurance serves up a comprehensive blend of coverage options to protect NY restaurant owners from whatever may comes their way.
What is restaurant insurance?
Having the right insurance in place can mean the difference between keeping your restaurant, bar, or bakery up and running or being forced to close your doors. Each day, your NYC restaurant is vulnerable to risks like fire, theft, natural disasters, liability claims, equipment breakdowns, and employee injuries.
These are just some of the things many restaurant owners think will never happen to them, yet can and do occur.
This coverage can include:
- general liability coverage
- liquor liability coverage
- workers’ compensation insurance
- property insurance
What are basic types of insurance for restaurants?
Before exploring more insurance protection for NYC restaurants and caterers, let’s talk more about basic coverage, including:
- general liability coverage for coverage for costs from claims relating to bodily injury and property damage
- liquor liability coverage for financial protection against claims relating to alcohol that was served at your establishment
- workers’ compensation insurance is mandatory for businesses in New York and provides benefits to employees who experience work-related injuries or illnesses
What additional protections should restaurants be aware of?
Once you meet your basic insurance needs, it’s time to consider extra protection that might suit your restaurant business. This includes EPLI (Employment Practices Liability Insurance) and food spoilage insurance.
Many restaurant owners do everything they can to prevent food spoilage. Still, unexpected events like power outages can cause your refrigerated foods to go bad. Food spoilage insurance coverage reimburses you for any food loss resulting from an unforeseen event.
Finally, property insurance helps protect restaurant owners against unexpected events. Often, these events are things like storms, fires, and other acts of nature. This coverage also extends to refrigerated food products and inventory stored onsite. In a power outage or other catastrophic event, this coverage can help you recover losses.
How much does restaurant insurance cost?
Unfortunately, we can’t give you a specific answer until we get to know you and your business — which we look forward to doing!
Every restaurant is unique — and so are its insurance needs and associated costs.
Policy pricing is informed by factors like:
- its location
- the size of the restaurant
- number of employees
- previous claims history
- if your establishment serves alcohol
its location
the size of the restaurant
number of employees
previous claims history
if your establishment serves alcoholChoose HCP Insurance to protect your restaurant
You have many choices when buying insurance for your New York restaurant or food services business — that’s not lost on us. But, when you choose HCP insurance, you get more than just coverage. You will also get our commitment to managing your risks and navigating the unique challenges of running a restaurant in New York.
We offer personalized solutions for restaurants of all sizes — from mom-and-pop establishments to chains with many locations, and we work hard to get policies at prices that work for our clients. Whether you run a bakery, a bar, a coffee shop, or you are caterers, restaurant insurance is a crucial part of the recipe that will make your NYC food service establishment successful.
We understand the idea of investing in restaurant insurance may seem daunting — you already have enough on your plate! But trust us when we say it’s essential to running a successful business in New York. Plus, any money spent now could save you thousands (or more) down the road.
Frequently asked questions about restaurant insurance
Still curious about insuring your restaurant? Learn more about NY restaurant insurance and get your burning questions answered.
The answer to this question depends on the needs of your NY restaurant. Generally, most restaurants benefit from:
- general liability insurance
- liquor liability insurance
- property insurance
- workers’ compensation (a legal necessity for most New York businesses)
Beyond those, consider extra coverage depending on your risk profile. This includes EPLI and food spoilage insurance.
Food spoilage insurance can help compensate for the cost of replacing spoiled food and any resulting business interruption. Food spoilage insurance is particularly important for restaurants that rely on fresh ingredients and have a significant inventory of perishable goods.
Yes, you’ll usually need a separate policy for each location. This gives you adequate protection for yourself and your employees. Not to mention, each site will have a unique risk profile and coverage needs.
One of the most effective ways to save money is by bundling different types of policies with the same insurer and getting a discount for doing so. (Ask us about our bundling discounts!)
Maintaining a good safety record and implementing risk management practices all help.
Liquor liability insurance is crucial for NY restaurants that serve alcohol. It provides coverage for claims arising from incidents related to the sale or service of alcoholic beverages. This coverage is important because restaurants can be held liable for damages caused by an intoxicated customer.
Property insurance helps protect your New York restaurant’s physical assets (like the building, equipment, furniture, and inventory) against covered perils like fire, theft, vandalism, and natural disasters. It can apply to the cost of repairing or replacing damaged property.
If you own any type of NYC business in the food service industry, you need restaurant insurance! It could be a bakery, a coffee shop, or a bar; even caterers need to cover their liabilities. Without the right coverage, you could experience significant financial losses from spoiled food, from the actions of an intoxicated customer, or from injuries that occur on your property. Don’t let a lawsuit or power outage cost you thousands of dollars. With the right insurance policies in place, you can have a safety net that allows you to continue running your business even when unexpected expenses come up.
