Can I do anything to lower my insurance premiums?

Absolutely! Here are some ways you can lower the cost of your restaurant insurance:

  • Limit liability whenever possible. Revisit the contracts you have with vendors, clients, and your landlord. All of your contracts can contain clauses limiting liability. The more you limit your liability, the lower your risk of getting sued, which might reduce your insurance rates.
  • Have written training and management procedures. What are your employee training and oversight policies? How thorough are your sanitation and cleanliness practices? Having written procedures in place can reduce accidents, lawsuits, and other risks.
  • Apply for insurance bundles. For example, bundling your food service insurance policies together in a Business Owner's Policy can noticeably reduce your costs.
  • Check your limits and deductibles. The lower your limits, the lower your rates. And the higher the deductible you take on, the lower your premium will be. In both cases, be careful not to leave your business financially vulnerable should you need to make a claim on your policy.

Still have questions? Fill out the Q&A form. We'll get back to you with an in-depth answer.

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