What Insurance Do Alberta Restaurants Need?
A customer injury, an equipment breakdown, or a kitchen fire could impact your livelihood as an Alberta restaurant owner.
Restaurant insurance protects your Alberta eatery against the risks that are associated with serving food and drink.
What is insurance for Alberta restaurants?
Insurance for Alberta restaurants is a customized insurance package that protects you from the specific risks that come with owing your restaurant.
Did you know about Western Financial Group’s restaurant insurance program?
Western’s restaurant program Juno covers restaurant’s insurance needs. Your Alberta restaurant, big or small, will be protected against fire, flood, theft, property damage and third-party liability.
With Western’s Juno program, you’re covered for lost revenues while you’re closed, plus the time it takes to build your business back once you reopen – even if it takes 12 months, with additional options for 24 and 36 months.
Here’s the recommended insurance for your Alberta restaurant:
Equipment breakdown insurance: Your Alberta restaurant business likely has expensive electrical and mechanical equipment to keep your products either frozen or refrigerated.
This type of insurance provides coverage for property damage from the sudden and accidental breakdown of insured equipment not automatically covered by a standard commercial property policy.
Equipment breakdown insurance under the Juno program offers equipment breakdown coverage to repair cooking and office equipment when it stops working for sudden reasons. Starting around $5 a month, it’s an affordable add-on.
Liquor liability
For Alberta restaurants that serve alcohol, liquor liability coverage under the Juno program protects your establishment from losses, damages, or other expenses arising from the injury or death caused by an intoxicated customer.
Commercial general liability (CGL) insurance
This type of insurance coverage protects against claims of bodily injury, property damage, and personal injury for your customers and your suppliers.
For example: A customer slips and falls on your premises or if a staff member accidentally damages a customer's property. General liability insurance can cover the associated costs.
It’s not uncommon that your Alberta restaurant would carry at least $2 million in CGL coverage, and more depending on the size of your eatery.
Commercial property insurance
Commercial property insurance covers the physical assets of your restaurant, including the building, equipment, furniture, and inventory. This insurance protects against events like fire, theft, vandalism, and sever weather. Given the expensive equipment and unique decor often found in restaurants, this coverage is necessary to ensure your eatery can recover quickly from an unexpected incident.
Business interruption insurance
Under Western’s Juno restaurant program, business interruption insurance covers you if you need to close your Alberta restaurant for an incident like a fire, flood or break-in. You’ll get paid while you’re rebuilding, even if that takes up to 12 months. We also have additional options to extend to 24 or 36 months for added security.
Product liability insurance
As a restaurant, you're responsible for the food and beverages you serve. Product liability insurance protects you if a customer becomes ill or injured due to food contamination or improper preparation. This coverage helps cover legal costs and compensation claims, helping to ensure that your Alberta restaurant's reputation remains intact.
Cyber liability insurance
In the digital age, restaurants often rely on technology for reservations, payment processing, and customer communication. Cyber liability insurance helps financially protect your business from data breaches, cyberattacks, and other technology-related risks. This coverage can cover the costs of notifying customers, recovering compromised data, and defending against legal claims.
Commercial auto insurance: If you have a business car, van, or truck that you use for your Alberta eatery, it won’t be covered by your personal car insurance policy. You will need commercial coverage as part of your insurance package.
With the right protection in place, you can focus on providing excellent food and service, knowing that your Alberta restaurant is secure.
