Power outages can strike anyone at any time, and they can be devastating for restaurants. While many homeowner/renter’s policies pay for spoiled food for residential losses, basic restaurant insurance doesn’t always cover the cost of replacing so much lost product. Gantt Agency wants you to be prepared if you’re planning to open a restaurant in Farmville, VA, and that includes double-checking if you have food spoilage coverage.
Covering Equipment Doesn’t Mean Covering Actual Food
One thing you’ll notice when looking for restaurant insurance is that the coverage can vary quite a bit between insurance companies. That means you can’t count on a policy at one company covering the same things that another company covers with its policies.
Restaurants can spend upwards of five figures per week on food. While not all that food is perishable, a good portion of it is. If a power outage hits and prevents refrigerators and freezers from working for a few days, even the toughest commercial equipment isn’t going to be able to preserve everything. And before you say that most power outages don’t last that long, think back to the historic 2002 winter storms that took out power for several days in the Carolinas and southern Virginia. That’s the reason you have insurance: to cover those unexpected problems.
Food spoilage insurance is one of those things that doesn’t always appear on insurance policies unless you specifically sign up for it. Always ask your agent if the policy they offer has this coverage built in, or if you need a rider to add it to the main policy. You don’t want to find out the hard way that the policy you bought has no food spoilage protection. Contact Gantt Agency in Farmville, VA, to find out more about ensuring your restaurant is fully insured.
