Bagel shops are small shops selling not just bagels, but an assortment of delicious baked goods. Many bagel shops sell a medley of bagels and cream cheeses, along with sandwiches, pastries, soups, salads, snacks, and other deli-style foods and drinks. Bagel shops typically have tables and chairs inside and outside the shop for customers who prefer eating at the shop. As the owner of a bagel shop, you can enjoy running this fun business as long as you pay attention to your potential risks. You are at risk for a variety of liabilities, such as food items that cause illness to a customer, spoiled goods, or spills inside the shop. Protect your risks by obtaining the right kinds of bagel shop insurance.
Types of Bagel Shop Insurance
There are several types of insurance policies suitable for bagel shops with the most important types of bagel shop insurance listed below.
The most basic business insurance policy available to bagel shops is general liability insurance. General liability includes completed operations, products liability, and premises liability. Premises liability will cover accidents occurring on your premises, such as from spilled beverages that cause a customer to slip and hurt themselves. Completed operations and products liability are especially important because they protect you from lawsuits resulting from products that caused an illness or injury, such as a customer burning her mouth from a drink that was too hot.
You undoubtedly use a company vehicle for business errands, such as making deliveries for catered services, or picking up much needed supplies and equipment. If you get into a motor vehicle accident during a business errand, it helps to have a business auto insurance policy. This insurance policy covers bodily injury and property damage along with protection from theft or vandalism while your car is parked.
Bagel Shop Spoilage Coverage
Unfortunately, ingredients you use can spoil quickly and you may not always notice it. Spoilage coverage will protect your business from loss or damage to spoiled foods as well as replacing the spoiled foods for new food items.
Bagel Shop Crime Insurance
You may not think your small bagel shop would experience crime, but it doesn’t matter what you sell, this is still a significant risk. You are at risk for items out in the open being stolen from customers or a passersby, vandalism to your shop, and theft of cash from your employees. It can be hard to fathom this kind of risk, but it is best you have coverage with crime insurance rather than the alternative.
Unexpected events like fire, natural disasters, and extreme weather conditions are just that; unexpected. You can’t prevent or avoid them, but you can protect your business from them. You should have property insurance to offer benefits in case something like this occurs and causes damage to your building, bagel making equipment, or products.
In your bagel shop, the baking and cooking equipment is vital to running your business. If any of this equipment was to break down, you would not only be liable for repairing or replacing the equipment but you would lose income as well. Equipment breakdown coverage is essential in your line of work as it helps pay for repairs or replacements along with income loss benefits.
Worker’s compensation is required by most states, but even if it isn’t required where you live, it is an important policy to have. Worker’s comp will protect your employees if they get a work-related injury or illness, such as an employee who burns their hand while baking bagels or pastries. The medical costs are covered by the worker’s comp insurance policy as well as lost income while the employee is recuperating.
By choosing these business insurance policies, you can protect your assets and bagel shop business that you’ve built with hard work and love. Bagel shop insurance takes care of the unexpected events that might occur while you concentrate on running a successful business.