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The Complete Guide to Catering Insurance

The Complete Guide to Catering Insurance

A catering business can be an excellent way to gain financial freedom and a flexible schedule, allowing you to take jobs on your own terms and work the days and hours you prefer.  In order to protect yourself and your business from all of the potential risks of running a catering business, you will need to obtain catering insurance.  Just like the insurance that is required for any type of business, catering insurance is designed to provide coverage for all of the aspects of running your catering company.

One of the biggest things you will need to look for in a catering insurance policy is a good amount of liability coverage.  In any business, liability coverage is a huge part of your insurance policy, but it is especially important in a business where you are entering homes and businesses owned by others.  Any potential damage that could be done as a result of your work on someone else’s premises could result in a major lawsuit.  Your liability coverage is there to protect you from this sort of lawsuit, paying out for a wide variety of damages when you are found to be negligent.  You should consider carrying liability coverage on your catering insurance policy of at least $1 million dollars, possibly more depending on the scope of the jobs you do.

There is more to catering insurance than just liability, however.  You will need coverage for all of the equipment that is required to run a catering business.  This includes everything from appliances to serving dishes.  A good catering insurance policy will provide a comprehensive plan for covering all of the equipment you have purchased to run your business.  If you also have vehicles you use for your catering business, this is another aspect of catering insurance you will have to look into.  Vehicles used for business purposes require a special type of insurance policy.

If your catering business has employees, you will need to make sure they are also covered under your policy.  Worker’s compensation insurance is required by law, and all employers must carry a policy.  Make sure that you won’t find yourself in trouble should something happen to one of your employees by keeping all of your coverage up to date.  You will also need to ensure that any employee who is driving a company vehicle is listed on the policy to make sure they will be covered in the event of an accident.

Catering insurance is designed to protect you from a wide variety of potential risks, including theft, damage to your catering equipment in a variety of possible ways, and of course the possibility that you could be found liable for damage to someone else’s property or for injuries that might be incurred as a result of your activities.  You should always ensure that you catering insurance policy is up to date and active before you consider taking on catering jobs.

You may need to shop around for catering insurance, as not all insurance companies provide this sort of policy.  Your best bet is a company that provides a lot of restaurant insurance policies.

Photo courtesy of ralph and jenny.

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