Hospitality Insurance
For more info, contact
Bernie Robertson
Branch Manager, North Bay | Account ExecutiveKevin O’Donoghue
Account ExecutiveInsurance for the hospitality industry is no set menu.
Each business operation is unique. Running a restaurant business includes oversight on everything everything from your equipment in the kitchen and the tables and chairs on the floor to your food in the fridge and stock behind the bar and in the wine cellar. Protecting what matters most to you is our top priority. Put the right team in your corner. We are your local broker.
From chip trucks and pop up restaurants to hotel properties across Canada and tour operators, the hospitality industry is unique. Coverage provided by an insurance policy specifically prepared for hospitality can include property, crime, business interruption and liability, depending on the needs of your business.
We understand that restaurant and hotel operations, especially with the impacts of the covid-19 pandemic, go well beyond serving patrons on your property. From take out counters, and food trucks to catering and event services, and sport venues, restaurant and hospitality coverage can be designed around your business needs.
Hotels, motels and bed and breakfasts are made for fun and relaxation—but for the owner/operator it’s a 24/7 business. There are specific coverages available to help protect your business, so like you take care of your guests, we can take care of your insurance needs. Rest easy knowing you are working with a local broker who understands your business. So at the end of the day, you can put your feet up too.
Opening a private members club or sporting and event venue?
For businesses like golf courses, arenas, yacht and tennis clubs where your main operations are not primarily about Food & Beverage service, connect with your local broker.
Many times these types of businesses have more packaged coverage available to support your overall business operations. These packages would consider if you are providing food and beverage service to your members and guests as a part of your operations.
Consider your local broker as one of your back of house (BOH) teammates.
With the right insurance you can focus solely on building your business. Put your trust in us, we’ll have your worst-case scenario, covered. Protecting what matters, that’s what we’re here for.
Hospitality businesses we work with:
- Catering Services
- Coffee House, Roasters, and Bakeries
- Craft Breweries, Distilleries, and Wineries
- Food trucks
- Golf Courses and Clubhouse
- Resorts, Boutique Hotels & Motels
- Restaurants, Diners, and Bistros
- Sports and Event Venues with F&B outlets
- Yacht, Sailing Curling, and Tennis Clubs (including those with F&B and retail outlets!)
Hospitality Insurance Solutions
FAQ
What is Business Interruption coverage and how does it work?
In the event of a loss to your business location, if your income is impacted, business interruption can help cover off your core ongoing expenses as a business owner. These are the expenses that are still due even when not able to operate, plus your profit. What this coverage does not replace, is business revenue for regular operations.
This type of coverage is typically always tied to bricks and mortar business location. Pandemics, and similar outbreak events, typically do not fall into this coverage.
How much do I need to insure my contents for?
The question many business owners ask is “do you insure for what it costs to buy or what it costs to replace your contents”?
The answer, what it costs to replace your contents. Why? Because if you’re insured for one fifth of the cost to replace, then any loss that you have is going to be based on the one fifth. It’s the principal of co-insurance. Questions about co-insurance? Check out the next FAQ.
What is Co-Insurance?
This is where you, as the business owner, choose to under insurer to such an extent that you become a co-insurer on every loss.
What does that mean in real talk; without the right value of insurance for your content/business needs you become a co-insurer on the difference in coverage. If your content are worth $1 million and your insure for $500,000, you become co-insurer on that additional $500,000.
You don’t want to be underinsured and you don’t want to be over-insurered. Connect with your local broker to find the right balance for your business needs.
F&B is not my main operation but a part of my business, what coverage do I need?
Let’s talk about the main activities and operations for your business, running a members activity club? You may have options for coverage in packages tailored for golf, yacht, sailing or tennis clubs and the inherent exposure for your business operations, beyond the hospitality aspect.
Connect with your local broker to learn more!
Do I need special event coverage?
If you’re hosting large events like family reunions, retirement parties or weddings, you’ll want to consider adding Host Liquor Liability Insurance (or event liability). This isn’t for your average backyard BBQ. This coverage should be considered when a larger guest list makes it more difficult to monitor everyone’s alcohol intake, but it’s always best to connect with your broker first to confirm if it is needed for your event.
This one-off policy can be acquired for a specific period of time and can protect you (the host) from injury or property damage claims against where alcohol was the determining factor and you are found negligent. Although Host Liquor Liability Insurance policy isn’t required by law, it’s highly encouraged.
Learn more about the ins and outs of liquor liability coverage in our recent blog.
What is the difference between festival and special event coverage?
Festival and event insurance differ in a few ways; festival insurance is considered for any special event that is longer than one day in duration.
Because of the scope of the festival, cancellation coverage is typically included in festival coverage as festivals have a broader scope of offerings and multiple days making the reasons for cancellation coverage a risk to be covered.
