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Finding Enough Insurance Coverage

When it comes to making sure that your home and family are safe and sound, few things are as important as choosing the right insurance plan. About six months ago, my home burned to the ground, and without the right insurance plan, we would have been toast financially. Fortunately, because we had prepared properly, we didn't have any problems when it came to making sure that we could rebuild our place. This website is here to help anyone who might be struggling with which insurance policy to choose. Check out this blog for great information on finding the perfect policy.


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Finding Enough Insurance Coverage

4 Ways to Control Your Restaurant Insurance Costs

by Jason Prescott

When it comes to running a restaurant, you want to ensure that you have enough insurance to protect your business from risk. At the same time, you want to make sure you keep your insurance costs under control.

#1: Pay Upfront

One of the easiest ways to save money on your insurance costs is to pay for your premiums for an entire year instead of paying monthly payments. Most insurance companies will offer you a sizeable discount for paying upfront. Paying upfront gets them your money faster and reduces the overhead of collecting money monthly and processing transactions. This does require you to have enough cash flow to pay your premium all at once, which can be difficult for a restaurant to achieve, but if you can work out your cash flow, this can help you save money.

#2: Improve Security

Improving your restaurant's security can help lower the risk of something going wrong and of you having to make an insurance claim. Taking steps to improve your business's overall security can help reduce your insurance costs when you inform your insurance company of the safety measures you have put in place.

For example, you can add a fire sprinkler alarm system to your business in addition to a traditional fire alarm system. You should have a security system in place to protect your business when it is closed. A video surveillance camera that is monitored 24-7 is also another smart business security measure. 

#3: Be Smart with Hiring

Third, you are going to want to be smart about who you hire. Make sure you hire employees who have the training and experience needed for the open position. For example, you want to have an experienced chef in your kitchen, not someone without experience who could cause a kitchen accident. Or you should hire bartenders who have a liquor license and knows when to cut off a customer. 

You also want to do background checks on your workers and make sure they have a good work history. Hiring workers who have experience can reduce the chance of needing to file a claim due to a worker's action.

#4: Follow Health Rules

Finally, be sure to follow all health rules when it comes to how you store and serve food. Storing and serving properly prepared food will reduce the chance of someone becoming injured due to the food you serve. Ensure all allergens are also listed on your menu and if someone has an allergy, take the preparation of their food seriously. 

These steps will help to lower your risk and lower your premium costs. Learn more by contacting a restaurant insurance company.