Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

People Have to Eat | Restaurant Insurance Product Highlight

Published on January 15, 2018

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From the dawn of America, people have been asking one question over and over:

Where do you want to eat tonight?

Have you ever stopped to think about how big a part Restaurants play in our society? They are a part of many people’s everyday lives at home, and they are always a factor for when we travel. One third of every guide book is dedicated to “Where to eat in ____,” so if you’re not insuring many restaurants yet, it may be time to ask yourself, “Why not?”

After all, look at these quick facts from the National Restaurant Association:

  • $799 billion: Restaurant industry sales. (Source: 2017 State of the Industry)
  • 1 million+: Restaurant locations in the United States.
  • 14.7 million: Restaurant industry employees.
  • 1.6 million: New restaurant jobs created by the year 2027.
  • 10%: Restaurant workforce as part of the overall U.S. workforce.
  • 9 in 10: Restaurant managers who started at entry level. 
  • 8 in 10: Restaurant owners who started their industry careers in entry-level positions.
  • 9 in 10: Restaurants with fewer than 50 employees.
  • 7 in 10: Restaurants that are single-unit operations.

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Know someone who’s interested in starting a restaurant? Refer them to these helpful FAQs about starting a restaurant from the money section of About.com.   Then get them the restaurant insurance coverage they need to get started. We have the wholesale restaurant and bar insurance markets you need to do just that.

Restaurant & Bar Insurance

Underwriting Summary

  • Commercial Property, Commercial GL & Liquor Liability on one policy
  • No seasonal operations.
  • Low minimum premiums
  • Up to $5M annual sales at each location.
  • Accounts with dancing and entertainment are eligible
  • Hoods, ducts, grease filters, and surface cooking equipment, including deep fat fryers, must be protected by a UL listed automatic fire extinguishing system.

Optional Coverages

  • Business income and extra expense.
  • Building owners endorsement
  • Spoilage coverage automatically provided for $5,000.
  • Power PAC Endorsement.
  • Eating establishment endorsement is available as an option (mutually exclusive with Power Pac Endorsement)
  • Restaurant Equipment that is permanently installed is included in the building limit. For tenant occupancy, it should be separately listed as restaurant equipment.

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Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for personal lines insurance and commercial lines insurance in California and surrounding areas.

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