Oklahoma Restaurant Insurance

If you own a restaurant, you know that running a successful business involves much more than just serving delicious food. You also have to take care of your customers, employees and the physical assets of your restaurant.

That's why having the right insurance coverage is crucial to protect your business from unexpected events that can lead to financial loss or even shut down your operations.

What Is Restaurant Insurance and Why Do You Need It?

Restaurant insurance is really a commercial insurance policy or policies that cover a range of risks specific to the restaurant industry. It can help protect you from liability claims, property damage, employee injuries and other losses that can occur in a restaurant.

What Does Restaurant Insurance Typically Cover?

Restaurant insurance typically includes several types of coverage that can help protect your business from various risks. In general, restaurant owners will want to insure their:

• Finances: In the event of unexpected damage or loss to your restaurant, or disruption to your business operations, restaurant insurance can help you recover.
• Assets: From the building to the equipment to the inventory, insurance can help repair or replace damaged or lost property.
• People: If an employee or customer is injured at your restaurant, insurance can help cover the cost of their medical bills and related expenses.

Restaurant business insurance, then, is a combination of different types of insurance policies that help protect these things from risk.

Types of Insurance Coverage Oklahoma Restaurant Should Consider

Some of the most common types of coverage include:

• General liability insurance: Protection against claims and lawsuits from customers, including slips, falls, food poisoning and other accidents.
• Property insurance: Protection for physical assets of the restaurant, including buildings, equipment and inventory.
• Workers' compensation insurance: Often required coverage for restaurant owners to protect employees in case of workplace injuries or illnesses.
• Commercial auto insurance: Insurance coverage on vehicles used for business purposes, such as deliveries or catering events.

Other types of coverage may be necessary depending on the specific needs of your restaurant. That's why it's important to work with an experienced insurance agent who can help you customize a policy that meets your unique needs.

Oklahoma Restaurant Liability Insurance

Restaurant liability insurance is a crucial type of coverage for restaurant owners. This general liability policy provides protection against claims and lawsuits from customers who are injured or suffer damages while on your property. This can include slip and fall accidents, food poisoning, allergic reactions or other incidents that can occur in a restaurant setting.

Without liability insurance, you could be held personally liable for any damages or injuries suffered by your customers, which could result in costly legal fees and settlements.

Liquor Liability Insurance for OK Restaurants

If your restaurant serves alcohol, you may also need liquor liability insurance. This type of coverage provides specialized liability protection for restaurants that serve alcohol, including protection against alcohol-related accidents and incidents. Liquor liability insurance can also help cover legal fees and damages if a customer is injured or suffers property damage as a result of alcohol consumption in your restaurant.

Food Contamination Insurance for OK Restaurants

Food contamination insurance is another important type of coverage for restaurant owners. This coverage provides protection in case of a foodborne illness outbreak or contamination. It can help cover the costs of recall, cleanup and legal expenses, as well as lost income and damage to your restaurant's reputation.

Property Insurance for Oklahoma Restaurants

Property insurance for restaurants provides coverage for the physical assets of your restaurant, including buildings, equipment and inventory. This coverage can help protect you from financial loss if your property is damaged or destroyed by fire, theft or other covered events.

Oklahoma Restaurant Equipment Insurance

Restaurant equipment insurance is a specific type of property insurance that provides coverage for equipment and machinery used in the restaurant, often kitchen equipment and appliances like refrigerators, ovens and grills. This coverage can help pay for repairs or replacements if your equipment is damaged or destroyed.

Restaurant Business Owner's Policy in Oklahoma

A Business Owner's Policy (BOP) is a bundled insurance package that includes general liability and property insurance. This policy is specifically designed for small to medium-sized restaurants and provides protection for your business against risks such as theft, property damage and lawsuits. BOPs are often more cost-effective than purchasing liability and property insurance separately.

Oklahoma Restaurant Workers' Compensation Insurance

Carrying workers' compensation insurance is a requirement for most Oklahoma employers. Not having coverage can lead to a misdemeanor charge and fines.

The workers’ compensation system in Oklahoma has been in flux since it was revamped in 2013. So, we want to help you navigate the requirements for your small business. Here's what you need to know:

• If you have any employees, whether full-time or part-time, you are required to carry workers' compensation insurance in Oklahoma.
• Sole proprietors and partners have the option to exclude themselves from coverage, but it's still recommended to consider including yourself.
• If you have up to five employees and all are immediate family, you're exempt from providing workers’ compensation.

Independent contractors can waive coverage by completing an "Affidavit of Exempt Status." However, if you're hiring a contractor with employees, make sure they show proof of coverage, as both the independent contractor and principal employer can be held liable for an uninsured subcontractor’s employees.

Make sure you understand the difference between an independent contractor and an employee. And remember, having the right coverage can help protect your business and your employees.

Restaurant and food service is a mid- to high-risk industry. Service jobs often require physical activity and movement; as a result, employees may encounter various hazards. For example:

• Some jobs in this industry are physically demanding, with heavy lifting or repetitive movements putting workers at risk for injuries.
• Exposure to harsh chemicals in commercial-grade cleaning products can cause tissue or respiratory damage.
• Food service jobs, particularly back-of-house staff, also face sharp tools, heavy equipment, hot surfaces, spills and hurried work environments, making burns and slip-and-fall injuries more common in these workplaces.

Related Read: 6 Safety Tips for Restaurant Owners to Avoid Kitchen Staff Disasters

Cyber Insurance for Oklahoma Restaurants

As technology plays an increasingly important role in restaurant operations, it's crucial to protect your business from cyber threats. Cyber insurance for restaurants provides coverage for data breaches, cyber attacks, and other technology-related risks that can affect restaurant operations and customer privacy. For example, if a hacker steals customer credit card information from a restaurant’s point-of-sale (POS) system.

This coverage can help cover the cost of legal fees, notification expenses and other costs associated with a cyber attack.

Employment Practices Liability Insurance for OK Restaurants

Employment Practices Liability Insurance (EPLI) for restaurants provides coverage for claims related to employment practices, such as discrimination, wrongful termination and sexual harassment. This coverage can help protect your business from legal expenses if an employee sues you for employment-related claims.

EPLI doesn't cover intentional acts of discrimination, harassment or retaliation. Additionally, it's essential to have policies and procedures in place to prevent these types of incidents from occurring.

Commercial Auto Insurance for Oklahoma Restaurants

For restaurants, commercial auto insurance covers vehicles used for business purposes, such as deliveries or catering events. This coverage can help protect your business from financial losses due to accidents, theft or vandalism. If you or your employees use personal vehicles for business purposes, you may need to purchase additional insurance coverage.

Umbrella Insurance for Oklahoma Restaurants

Umbrella insurance is an additional type of liability insurance that provides coverage beyond the limits of your primary liability policies, such as general liability or auto liability insurance. This coverage can help protect your restaurant from financial losses due to catastrophic events or lawsuits that exceed the limits of your primary policies.

Umbrella insurance is an important coverage for restaurant owners as it can provide additional protection against large liability claims, which can otherwise lead to significant financial losses or even bankruptcy.