New York Restaurant Insurance
We provide impressive coverage options to address the specific risks faced by food service establishments, including bars, pubs, taverns, and other hospitality establishments.
Get a full-course menu of insurance coverage for your restaurant 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 for whatever comes your way.
What is restaurant insurance?
The right insurance in place can mean the difference between keeping your restaurant up and running or being forced to close its doors. Each day, your 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.
What are basic types of insurance for restaurants?
Before exploring more insurance protection for restaurants, 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
Choose HCP Insurance to protect your restaurant
You have many choices when buying insurance for your restaurant — 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.
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 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 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 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.
Safeguard your restaurant now
Give your business every advantage it needs to thrive in a competitive industry. Reach out to us today so we can protect your restaurant tomorrow.