By operating a deli business, you provide fresh snacks, drinks, and food items every day to your local community. You become one of the small businesses that helps your community thrive. While it can be a very profitable business, you need to always be aware of the potential risks. Since you serve food, some of your biggest risks are related to food spoilage and potential illness from contamination. Deli business insurance can help you cover this and other risks.
Types of Deli Business Insurance
Your deli business has multiple risks, so you need multiple types of deli business insurance policies. Here are some of the most important policies to have:
The most basic of insurance policies is the general liability policy, which includes three areas of coverage. You have coverage from accidents occurring in your deli shop, which is covered under the premises liability portion. If a customer becomes ill from spoiled mayo they ate on a sandwich they ordered, damages incurred are covered under the products liability. Completed operations is for any services you provided, such as catering an event.
If you are providing catering to a customer and you get into a vehicle accident on the way to the event, it could mean vehicle damage, or bodily injury. This is covered by a business auto insurance policy, along with other areas of coverage, like vandalism or theft.
Deli Business Owner’s Policy (BOP)
A business owner’s policy (BOP) is not one policy, but a package policy covering different risks. You have general liability, plus other areas of coverage to choose to have depending on what your risks are. This includes dishonest employee coverage, equipment breakdown, buildings and contents, and missing income. If there is a fire in your deli, you have coverage for damage to your refrigerators, repairs you need for your building, and lost income protection.
If there is an unexpected peril, such as an earthquake, fire, or flood, you are not only dealing with not conducting business during that time, but damage to your deli shop and the goods inside. If you need to make repairs or replace food and equipment, you can do so with the help of a business property insurance policy.
Deli Spoilage Insurance
Since you deal with foods, spoilage is one of your biggest risks. You might have a power outage that causes all refrigerators and freezers to stop running properly. Your food can spoil, and it all needs to be replaced. The spoilage insurance policy is a vital deli business insurance protection to help you to accomplish this.
Deli Business Interruption Insurance
Any unexpected event that interrupts your business, such as equipment breaking down, a power outage, or other events, you are losing income and possibly long-term business. Business interruption insurance helps you to cover these types of risks and losses.
Deli Equipment Breakdown Insurance
Your deli relies on your kitchen equipment to be working properly in order to conduct business each day. If your meat cutter breaks down, you won’t be able to slice deli meat, and suddenly you have to pause operations until it is repaired. This is a very expensive piece of equipment that might need to be completely replaced. To help mitigate these costs and replace it quickly, get an equipment breakdown insurance policy.
Deli Cyber Liability Insurance
Do you have a website where you advertise your deli shop and list the types of items you carry? If so, you need to protect yourself from cyber crimes with a cyber liability insurance policy. An experienced hacker can get past your security measures, steal your identity, and cause major destruction and loss of income. This requires a cyber liability insurance policy to get out of the ordeal.
Deli Employee Dishonesty Coverage
Even if you have gone through the right steps to ensure you have hired reputable, honest and hardworking individuals, you still have the risk of employee-related crimes. An employee might steal cash from the register, or food from the kitchen. The losses or damages they cause are covered by your employee dishonesty policy.
Your workers’ compensation insurance policy covers your employees and your own company. If an employee is working in the kitchen, and they slip from a spill on the floor and break their ankle, the medical costs will be covered by workers’ compensation. It also protects you from paying for these costs, or from being sued by the employee for damages or lost wages.
Deli Crime Insurance
Theft, robbery of goods, and vandalism are all covered by a crime insurance policy. From late-night break-ins, to employees stealing cash, you need to have protection from losses and potential damage to your business as a result of crimes.
Now that you know what deli business insurance policies are available for your deli shop, you can have adequate protection and focus more on increasing the profits of your business.