Brooklyn Restaurant Insurance

New York requires that all businesses who obtain a liquor license also obtain a liquor bond. A liquor bond is a specialized surety bond, which is different from a standard insurance policy. A liquor bond is more like a line of credit that guarantees the state will receive payment should a retailer fail to submit all required sales tax payments. This is separate from bar insurance or restaurant liability insurance, so you will need coverage even if you have already paid your liquor bond. The team at Lincoln Brokerage can help you obtain tavern insurance for your establishment in Brooklyn.

Every type of Brooklyn restaurant needs commercial property insurance, whether the building it operates out of is owned or leased. This type of coverage protects the building, its contents, and exterior fixtures such as signs or decorative items. The cost of commercial property insurance is based on the location of your building, its construction grade, occupancy, and current protective measures.

Unfortunately, an employee is more likely to steal from their employer than not. Whether it’s money, supplies, food, or equipment, anything an employee takes from your business hurts its bottom line. Having employee dishonesty coverage can help you recover revenue and inventory as a result of employee theft. While not necessary, employee dishonesty coverage can be a great asset to your restaurant business.

Many restaurants are under the false impression that product liability coverage is solely for manufacturers, but any business that is part of a product supply chain, including a restaurant, needs this type of coverage. A product liability policy covers litigation resulting from manufacturing defects, design defects, and marketing defects. Should a sourced ingredient be the cause of illness or injury, such as an allergic reaction, product liability coverage will protect your New York business. We can help you design a restaurant insurance policy that includes product liability coverage.

Imagine coming to work and finding your refrigerator has malfunctioned. All the restaurant’s perishable food for the week has spoiled. You’re unable to open for the day and the discarded food needs to be replaced. With food contamination insurance, your losses are covered (up to your policy’s limit). Food contamination insurance also covers medical expenses incurred by employees and customers, should they come into contact with contaminated food. Your Bushwick, NY restaurant insurance coverage may not include this type of protection, so get in touch with our agents to find out for sure.

If your business manufactures, sells, or serves alcohol or alcoholic beverages, you’ll need liquor liability insurance. Should intoxicated customers cause property damage or bodily injury to themselves or others, this type of policy will cover the associated costs. It’s important to add this type of coverage to your insurance package as alcohol-related incidents are excluded from general liability policies. Do you carry liquor liability coverage in your New York bar insurance policy? If not, Lincoln Brokerage can help you ensure you are protected.

It’s mandatory in New York state to carry workers’ compensation insurance (if you have employees). Not doing so can result in a hefty fine. The restaurant industry isn’t the safest. Heavy lifting, wet floors, and hot stovetops can all be the cause of employee injuries. Workers’ compensation insurance helps with the costs related to an injured employee’s recovery and lost income.