High Operational Risks, Narrow Margins Mean High Stakes for Uncovered Restaurants
Restaurants are known for having razor-thin profit margins and high operational risks, ranking them among the riskiest types of businesses. Operational risks include open flame, hot oil, wet floors, and food-borne illnesses, to name a few.
What’s At Stake Without Coverage
Not having insurance coverage —or the right amount— is a recipe for out-of-pocket losses that can financially devastate a restaurant. In fact, because restaurants operate with tight cash flow, an unexpected, uncovered claim is a leading reason why many have to close down. This makes protecting restaurants with the right amount of coverage all the more important. At Utica First, we specialize in writing a wide variety of restaurant businesses—from fast food/take-out to family-style, diners, and more.
Coverage is essential for all restaurant business owners to invest in for peace of mind so they can focus on operating and growing their businesses.
At Utica First, we understand the unique nature of the restaurant business, including the risks restaurant owners face. A Utica First Restaurant Business Owner Policy (BOP) can protect these business owners from financial loss should an unexpected event occur.
Restaurants We Cover
We protect most types of restaurants—whether well-established or new ventures—from risks inherent in the industry. Risks must be “year-round” and meet all requirements for hoods, ducts, and fire suppression systems (contracts for servicing and cleaning must be in place).
Standard Coverage
Our Restaurant BOP is a conveniently bundled package with protection for:
- General liability (bodily injury, property damage, personal and advertising injury)
- Property (physical location—owned or leased, fixtures, equipment, inventory)
- Business income (lost income due to disruptions in operations)
Optional Coverages
For added protection, we offer a variety of optional coverages that include:
- Appetizer coverage
- Liquor liability
- Cyber liability
- Equipment breakdown
Why Utica First
At Utica First, our policy is putting you first. We believe in the power of teamwork and the strength of our dedicated agent and broker partners. The Utica First team prides itself on our character and integrity, and is known for going above and beyond to help make your life easier by supporting your customers and your overall success.
If you have restaurant customers in the states of New York, New Jersey, Connecticut, Pennsylvania, Ohio, Maryland, Virginia, or Massachusetts, ensure your staff quotes Utica First on all qualifying restaurant prospects! More information about our Restaurant BOPs and the full list of what we write can be found here. #PuttingYouFirst
