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You’ve always wanted to open your own restaurant, and now that dream is about to become reality. The right insurance policy can increase your chances of success by keeping small setbacks from turning into major problems.
Read on to find out what all the ways insurance can protect your business, your employees, and your customers.
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Opening a restaurant can be a highly rewarding experience, but it’s not without its challenges. It pays to be aware of the risks so that you can take the proper precautions. Here are some of the risks you might face.
Need a business loan? Compare options for restaurants
Because restaurants and other hospitality businesses have many moving parts, there is no one-size-fits-all insurance policy. In fact, there are dozens of overlapping policy inclusions to choose from.
It is important that you familiarise yourself with all of your options to ensure a small setback doesn’t turn into a serious threat. However, there is no need to be overwhelmed; most insurers will work with you to customize a policy that meets your exact business needs. Just make sure they explain any exclusions and limitations that apply to your policy.
To get you started in your search, here is a list of the policy types you are likely to encounter in your search results. They can be categorized into those that are required by law, and those that are optional.
Note: If you are after an insurance quote for professional indemnity insurance, you'll need to either speak to a broker or use our online engine.
Picture: Luca Bravo - Unsplash
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