Restaurant Insurance & Risk Management

As you know, the restaurant business is nothing if not unpredictable. You need coverage that anticipates a wide range of possibilities.

We asked restaurant owners and managers what they want from their agent, coverage and insurance carrier – then we created The Five Star Program for Restaurants. It combines broad protection and excellent service for policyholders with an exclusive pricing methodology that is unique. The result is a program that is the most comprehensive in the industry – and is tailored to the needs of you and your business. Whether you are a seafood restaurant, a French bistro or a café, we can offer you protection for almost any loss or damage that happens to your business.

Here’s what Corcoran & Havlin’s Five Star Restaurant Program offers you:

  • Property Coverage
  • Spoilage of food and beverages caused by a mechanical breakdown or failure of your refrigeration equipment.
  • Money and Securities, including not only cash taken in, but stolen credit card receipts and traveler’s checks.
  • Building Ordinance coverage provides you with extra protection to enable you to rebuild in compliance with local, potentially expensive building codes in the event of a covered loss.
  • Employee Dishonesty, such as theft of cash from the register, theft of silver or linens and credit card fraud.
  • Business income will reimburse you for lost profits and continuing expenses of fire or property damage, for a period of time selected by you at the beginning of your coverage.
  • Business income lost from the forced closure of your restaurant due to alleged food poisoning.
  • Damage or theft of customers’ property in your care, such as coats, briefcases and hats.
  • Recharging fire extinguishing systems if they are discharged.
  • Sign, glass, awnings and antennas.
  • Machinery and Equipment Breakdown.

General Liability Coverage

The Five Star Program’s general liability coverage not only gives you what you would expect from any major carrier, but what you want – and what many restaurant owners have told us they need, to do business. We offer you:

  • Valet Parking Coverage, which includes your liability for damage to your customer’s cars.
  • Discrimination coverage for other than employment-related activities, such as when a customer claims they received poor service because of race, religion or gender.
  • Extended Medical Payments coverage for illness or injuries suffered by your customers on your premises, such as those resulting from contaminated meat, spoiled fish, salad with a splinter of wood in it, or food that induces allergic reaction.
  • Tenant Legal Liability Coverage for:
    • Damage to your rented or leased building
    • The building owners as an additional insured
  • Worldwide coverage for all kinds of business-related events, such as a wine-buying trip to France (should you accidentally destroy a case of fine wines) you’re automatically protected.

Liquor Liability Coverage

This protects you in the event of a claim involving an intoxicated patron; it automatically includes the building owner as an additional insured.

Commercial Automobile Coverage

Automobiles owned for business use are well protected, with up to $1 million in automobile liability. Several deductible options are also available to customize an insurance program to best suit your needs. Direct primary Valet Parking Coverage is available to protect your patron’s vehicles in your care, custody and control. Bodily injury and property damage caused by your valet parking staff while driving customers’ vehicles are covered as well.

Umbrella Liability Coverage

This provides your restaurant with higher limits of liability coverage with no deductible.

Our Unique Pricing System

Takes your restaurant and how you run it into account – so your premiums are priced fairly.

To give you a fair and reasonable rate, we evaluate your business according to a scale by which we judge all other restaurants, and price your insurance accordingly. Safety hazards, safety equipment and other procedures are all taken into account.

At Corcoran & Havlin, we see our job as more than just covering you in event of loss or damage. We also want to help you prevent every possible accident or mishap that is preventable. Ultimately, this saves both of us money. So we look at what type of restaurant you have – and how careful you and your employees are about safeguarding yourselves, your property, and your customers. Our pricing system is set up so that we can fairly and accurately evaluate risk potential, and give you a fair price in return.