The business of selling great food, meeting customer’s expectation levels of service, and still finding a way to make a profit has proven to be a very difficult task. Studies have shown that 4 out of 5 restaurants end up closing their doors. Part of the reason is that they might not have set up the proper specialized insurance program to protect their assets and profits. Whether you run a fine dining restaurant, tavern, fast food franchise, pizzeria, or any other food or liquor establishment, Hanson & Ryan has the right program for you.
Our agency understands your business and your insurance needs. We also know how to help you set up a budget to pay for your insurance program. We’ll help keep money in your pocket while making sure you have not sacrificed coverage to the extent that a significant claim could lead you to bankruptcy.
Hanson & Ryan has aligned itself to represent over a dozen programs through reputable carriers such as Selective, Travelers, Peerless Liberty Mutual, and Hartford among others to make sure that your specific coverage needs are addressed. This goes beyond the typical liability for the food if someone becomes ill and protecting your business property. It includes special coverage such as spoilage, money, liquor liability, and valet coverage. Maybe you have a need for assault and battery coverage if you provide entertainment. Or are you concerned that you can lose everything if your delivery driver gets into an accident?
Probably the single most important specialized coverage for the industry is loss of income coverage or business interruption. Most restaurants are not adequately insured to protect their income and provide a profit if they are shut down from a fire, water damage, or significant power outage claim. We can help you design a program to protect and restore what is yours should an unfortunate incident happen.
The reason we utilize multiple carriers for similar programs is to make sure we have found you the best premium within the marketplace. For example, some carriers base their rates on overall gross sales while other carriers develop the premium using the square footage of the establishment. Therefore, a very small sized location with a high sales volume will utilize the program based upon square footage of the business while a larger establishment could be better off using gross sales.
We will also help you set up a weekly budget to cover your property, liability, and worker’s compensation premiums so that the insurance program is not a strain on your profit. The bottom line is that Hanson & Ryan can give you the options you need so that your business has the best possible opportunity to succeed!
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