Insurance for Your Prince George Fast Food Restaurant

December 12, 2024 / 5 mins read

Fast food restaurant owners face constant risks, from grease fires to claims of food poisoning. Having adequate business insurance is a smart way to financially protect your Prince George fast food outlet.

Did you know? You can customize your business insurance to meet the needs of your Prince George fast food restaurant.

Your Western Financial Group business insurance broker will get you commercial coverage that uniquely protects your Prince George fast food outlet and the risks it faces.

Western is a trusted, national insurance brokerage that has partnered with Canada’s top insurance companies to provide commercial insurance. We work with our insurance partners to find the best business coverage for your needs.

We make the process easy by getting insurance quotes for you and giving you policy coverage options that you can choose for your Prince George fast food restaurant.

What types of fast food restaurants need an insurance package?

You need an insurance package if you operate a fast food restaurant that sells:

  • Burgers and fries
  • Pizza
  • Fish and Chips
  • Pitas
  • Tacos
  • Fries
  • Fried chicken
  • Hot dogs
  • Ice cream
  • Ice cream

How will a fast food insurance package protect my business?

You need to protect your Prince George fast food restaurant from the potential risks associated with its daily operations.

Without business insurance, you would have to cover these costs out of your own pocket. Can you take on that kind of risk?

A restaurant insurance package can help protect you from these 3 common claims:

  1. A customer slips and falls in your sandwich shop due to a wet floor, breaks an ankle and sues you.
  2. An employee steals cash from your Prince George fast food restaurant.
  3. A customer says your takeout food made them sick.

Here’s an insurance checklist for Prince George fast food restaurant owners:

  • Do you have the best business insurance rate for your fast food business?
  • Do you have the right amount for your deductible and regularly review it to make sure it’s the right amount for your business?
  • Is your number of employees up to date?
  • Do you know the value of your equipment and is it properly insured?
  • Have you thought about the consequences of a kitchen fire that shuts down your fast food business temporarily?

What’s in a fast food restaurant insurance package?

Commercial general liability (CGL) insurance

This type of insurance helps protect your Prince George restaurant from a loss if you’re found legally liable for bodily injuries either on or off your restaurant’s premises.

CGL can help pay legal and medical costs if a customer is injured at your restaurant; for example, they slip on wet floor or on an icy patch on your restaurant’s sidewalk.

It’s important to note that without commercial liability insurance, you would be responsible for paying any liability costs out of your own pocket.

Your CGL policy also can help protect you from libel, slander, copyright infringement, and false advertising allegations.

How much CGL insurance do I need?

It’s not uncommon that a fast food restaurant would carry $2 million in CGL coverage, depending on the size of your operation.

The size of your Prince George fast food restaurant, number of employees, and claims history will be factors in how much commercial general liability insurance you need.

Commercial property insurance

Whether you own or rent your Prince George fast food restaurant location, commercial property insurance protects your business and its contents from insured risks that can happen, such as fire, theft, flood, or vandalism.

If vandals smash a store window, commercial property damage could cover the costs of replacing the window and cover any damage or vandalism inside your business.

Commercial property insurance typically includes flood insurance, but what if there’s heavy rain and the sewers back up and your business is flooded?

You should consider adding sewer backup or overland flood coverage extensions, which standard business insurance policies typically do not cover.

Equipment breakdown insurance

Your business likely has expensive electrical and mechanical equipment to keep your products either frozen or refrigerated.

Equipment breakdown insurance provides coverage for property damage from the sudden and accidental breakdown of insured equipment not automatically covered by a standard commercial property policy.

You’ll need to have a list of your bakery equipment and how much it’s worth.

Product liability Insurance

If a customer gets sick after eating your food, product liability insurance may cover the cost of the customer’s medical expenses and your legal and court-related costs to defend yourself.

Crime insurance

It should be part of your fast food insurance package.

Crime insurance can protect you against theft, credit card fraud, forgery, counterfeit, and other types of fraud that employees sometimes commit.

Cyber insurance

If you process debit and credit card transactions, online or in person, you need cyber insurance. Your system could be vulnerable to cyberthieves.

Without cyber insurance, you will have to pay out of your pocket for the cost of restoring your computer system if it’s hacked.

You may also be liable for damages to third parties whose information has been stolen and you may have to pay for notification expenses to inform customers affected by a breach.

Commercial auto insurance

If you have a business car, van, or truck that you use for your Prince George fast food outlet, it won’t be covered by your personal car insurance policy. You will need commercial auto coverage as part of your insurance package.

What if my fast food restaurant delivers food via a third-party app and I get sued?

As the business owner, the liability falls back on you for any products sold through any platform. Read through the agreement you have with the third-party delivery provider to see if there could be any terms and agreements that remove your liability once your fast food restaurant’s food enters the delivery car.

Business interruption insurance

Business interruption insurance helps support you when your Prince George restaurant can’t operate due to a covered loss. Bills like repairs, inventory, rent, and payroll keep rolling in even if your business is forced to close.

Some examples of losses that can force your Prince George business to shut down:

  • Your restaurant is damaged by fire or vandalism
  • A disruption in your supply chain
  • Damage to a neighboring business prevents your business from operating

Business interruption insurance can help with these expenses:

  • Payroll
  • Rent
  • Utilities
  • Property taxes
  • Alarm monitoring
  • Relocation of your fast food business
  • Contact your broker immediately after any business-related mishap. Waiting to file a claim can confuse insurers about the severity of the damages to your business.
  • Know your policy so that when you contact your broker you are familiar with what will be covered or not.
  • Document the damage. Take photos right away and write down what happened.
  • Do not throw away damaged goods after taking photos. Keep the physical evidence so that your adjustor can see it.
  • Do not invite lawsuits. Don’t say anything that could be used against you, especially if you aren’t sure what happened.
  • Be honest about what your damaged property is worth. Damaged commercial property is generally valued according to its actual cash value or replacement value.

What do I do if my fast food business has an insurance claim?

Western Financial Group has licensed BUSINESS INSURANCE EXPERTS to get your Prince George fast food restaurant the right insurance package. Our experts are available now to help you navigate the business insurance journey to protect your fast food business.

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