Restaurant Insurance
Protect your restaurant’s building, kitchen and inventory with tailored Restaurant Insurance.
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Why Restaurants Need Commercial Property Coverage
Restaurant Insurance is a tailored package of policies designed to protect businesses in the hospitality industry.
At its core, Commercial Property Insurance can protect your restaurant’s physical assets, such as your building, kitchen equipment and inventory.
It can help ensure that the things that keep your restaurant running are protected against damage, theft or loss from events (e.g., fires, storms or vandalism).
Why Does It Matter to Restaurants?
Restaurants rely heavily on kitchen equipment, dining furniture and stock of ingredients. Damage to these can halt operations, costing you revenue and customers.
Here’s why Restaurant Insurance is critical:
01
High-Value Assets: Commercial kitchens are packed with expensive equipment like ovens, fridges and grills. A single fire or flood could result in thousands of dollars in losses.
02
Frequent Risks: Restaurants deal with fire hazards, water damage from plumbing issues and theft, all of which can disrupt your business.
03
Revenue Protection: If your restaurant can’t operate due to property damage, you could lose income. Insurance can help cover these losses, keeping your business afloat.
03
Compliance: Some leases or local regulations may require you to have Commercial Property Insurance to operate legally.
What Does Restaurant Insurance Cover?
Here’s what Restaurant Insurance can cover:
01
Fire Damage: A kitchen fire can destroy equipment, furniture and even the building itself. Insurance covers repair or replacement costs.
02
Storm and Water Damage: Heavy storms or burst pipes can flood your restaurant, damaging inventory and interiors.
03
Theft and Vandalism: From stolen stock to vandalised storefronts, insurance helps cover losses from criminal activity.
04
Equipment Breakdown: If a critical piece of equipment (e.g., a deep fryer or fridge) fails due to a covered event, insurance can cover repair or replacement.
04
Business Interruption: If damage forces you to close temporarily, this coverage can help replace lost income and cover ongoing expenses like rent.
Who Must Secure Restaurant Insurance?
If you own or operate a hospitality business, Restaurant Insurance is likely a necessity:
01
Restaurant Owners: From fine dining to casual eateries, your building and contents are at risk from daily operations.
02
Takeaway Shops: Even small setups with minimal equipment face risks like theft or fire.
03
Bars and Pubs: High-traffic venues with valuable fixtures and fittings need robust coverage.
04
Caterers: If you operate out of a commercial kitchen, your equipment and inventory are just as vulnerable.
Frequently asked questions
How much does it cost to insure a restaurant?
Costs can vary based on different factors, including your location, the value of your assets and the size of your restaurant. On average, small to medium-sized restaurants in Australia pay between $3,000 and $5,000 annually for comprehensive coverage, but depending on the size of the restaurant premiums can be higher than this. As an insurance broker, our team at Tank Insurance can help you look for competitive rates.
Does the Commercial Property Coverage extend to renovations or fit-outs?
Yes, if you’ve made improvements to your restaurant, such as installing a new bar or upgrading the kitchen, these can be included. Make sure to inform your insurance broker about any renovations to ensure they’re covered.
Can I get coverage for outdoor areas like patios or beer gardens?
Yes, many Restaurant Insurance policies can extend Commercial Property Coverage to outdoor areas, including furniture, awnings or equipment. Be sure to specify these areas when discussing your policy with your insurer or insurance broker.