What is the Best Coffee Shop Business Insurance 2018?

You may be tempted to ask whether you need to get in touch with one of the best coffee shop business insurance providers before you start or open a coffee shop. Setting up and running a coffee shop requires lots of expertise – in-depth knowledge about diverse types of coffee, knowledge of different types of coffee making equipment, an understanding of laws and local regulations, pricing, taxes, hiring, and marketing.

However, one crucial thing that most people forget is business insurance– though it actually might be required by others involved in your business venture such banks, investors, property managers, etc. Why a coffee shop need to be insured is a common question, especially for start-ups. The truth is that having the best coffee shop business insurance offers invaluable business protection as well as peace of mind.

Importance of Business Insurance

Getting coffee business insurance is an absolute necessity that you must not overlook. It doesn’t matter whether it’s for that morning caffeine hit on their way to the office, a comfy place to relax after work, or for a chat with friends, your coffee shop has an important role in the daily lives of your customers.

That is why you need the best coffee shop business insurance cover for your enterprise and your customers.  Whether your establishment is a quick one-stop coffee stall that serves the basic cup of joe or a sophisticated and chic coffee bar stocked with a broad range of gourmet espressos, you need to be covered by insurance. The best coffee shop business insurance company fully understands that your coverage needs may be as diverse as the types of coffee you sell.

For example, what would happen if one of your valued customers got burned by hot coffee in your shop and proceeds to sue you for costly damages? What if a heavy storm damaged your bespoke street sign? Would your savings help in settling with the injured customer or making speedy equipment/inventory repairs?  When lawsuits or property damage threaten your coffee shop business, that is when you realize the value of having one of the best coffee shop business insurance providers covering your back.

1. AllState Insurance

Allstate has one of the best coffee shop business insurance packages as it not only protects your livelihood and customers but also gives you the much-needed peace of mind. Whether it's an impromptu stop or the destination, your shop offers something for everyone. Keeping the coffee shop stocked with your customer’s favorite blends helps in keeping your venture bustling.

Running a successful coffee shop business, however, takes energy, time and comes with multiple risks. You need solid insurance cover from a reputable company like Allstate. Some of the insurance products you get from this insurer include:

  • General Liability Protection – The Allstate Food & Beverage Stores business insurance covers you for injuries to third parties at your premises. It is meant to give you protection from lawsuits against your business. This is rated by reviewers as the best coffee shop business insurance coverage as it is based on an annual limit and per-loss limit.
  • Comprehensive Solution - This type of business cover pays for repairs arising from occurrences like storm hail. You will have peace of mind knowing that subject to deductibles, Allstate has you covered for potential hail damage repairs.
  • Building/Personal Property - This covers your property up to the agreed limits. The coverage is accessible on a replacement cost basis.
  • Business Income & Extra Expense - This covers your business for income loss and fixed expenses while your coffee shop business is closed because of a covered loss. The Extra Expense cover helps in setting you up at a temporary site or location as the repairs are being carried out.
  • Employee Causes Accident – In the performance of work, your employee can get into an accident that causes damage or injury to which you could be held liable. This cover gives you protection over such incidences.
  • Employee Dishonesty – Your coffee shop, just like any other type of business, is not immune from dishonest employees. For such, you need to get one of the best coffee shop business insurance covers that will respond fast when a member of your staff steals from your business. This is typically an optional coverage, but the Allstate Retail Shield includes it.

2. Nationwide

Operating a coffee shop business can be a greatly rewarding experience but you also need to get solid cover from one of the best coffee shop business insurance providers. Nothing can be as pleasing as watching your valued customers enjoy a steaming cappuccino in your coffee shop knowing that all possible eventualities are well-taken care of by a good insurance company.

If an aggrieved customer were to file a lawsuit against your coffee shop or if your coffee making machines failed due to an accident, you could easily go out of business and possibly get ruined. For all these business risks, you need the best coffee shop business insurance cover. Nationwide has acquired extensive experience in business protection as they have given coverage to over 500,000 small businesses.

A business owner’s policy from Nationwide is certainly one of the best coffee shop business insurance packages. It combines various components like property and liability insurance as well as other common insurance coverages into a single convenient package.

Liability Insurance This gives your business protection when your products, services or employees cause harm to others. If your customer gets burned by hot coffee at your shop, you are covered by Nationwide when you have liability insurance.

Equipment Breakdown Coverage – This keeps your equipment protected in case of mechanical breakdown, power surges, operator error or burn out.

Commercial Property – Covers your commercial property and its contents against losses arising from a burst water pipe, fire or other accidental events.

Business Income Insurance - Cover potential losses when work at your business gets interrupted or closed temporarily due to specified events.

With over half a million members, Nationwide protects small businesses in nearly every industry. This extensive experience has helped the insurer to design business-type BOPs tailored to cover the most common business risks. It is currently one of the best coffee shop business insurance providers in the market today.

3. AIG Insurance

The catering and hospitality industry is facing a huge increase in the volume of compensation claims thus the need to have one of the best coffee shop business insurance companies backing up your business. The AIG service platform has over a quarter of a century’s experience in terms of litigation management services, loss prevention, underwriting, and claims, all tailored for your specific sector or industry.

The hospitality business world is changing extremely fast and you need the best coffee shop business insurance you can get if you are to survive the stiff business environment. What was not an issue yesterday could put you out of business today. But with the risk expertise at AIG, your business will face the future with more confidence, with less fear and uncertainty.  Rated as one of the best coffee shop business insurance providers, AIG offers a versatile range of insurance services and products.

The product range includes traditional catering and hospitality insurance, as well as highly specialized solutions to help your businesses reduce the emerging risks.

Management Liability Insurance – This is an insurance solution designed to offer protection from a broad variety of business board-level exposures. With coverage extending from company assets to personal assets, AIG helps you remain focused on achieving business success and no wonder reviewers have rated AIG as among the best coffee shop business insurance providers.

Middle Market Property Insurance This is an advanced business interruption product that is designed to cover you for midsize risks. It provides broad coverage yet in a very concise form. It is designed to ensure that your claims process becomes as smooth as possible, helping in minimizing business operation interruption. Featuring fewer warranties and conditions, the broad all risk coverage is all about maximizing the continuity of your business.

AIG Insurance offers some of the best coffee shop business insurance products. Theirs is a complete package that has been specially designed with your business insurance needs in mind.

4. State Farm Insurance

Whether you are an established beverages business guru or just getting started, make sure your coffee business has the best coffee shop business insurance protection.  State Farm appreciates that your coffee shop business means a lot to you and understands the kind of challenges you face daily. The Insurance Company is recognized for providing a variety of business insurance products and solutions.

Business Owners PoliciesThe process of buying business owners policies on offer at State Farm has been designed to be easy and fast. The insurer offers the kind of business protection your coffee shop needs at cost-effective rates.  The agents used by State Farm are themselves business owners like you and they understand that you need the best coffee shop business insurance coverage.

The BOP insurance specifics are customizable to suit your individual needs, all you need to do is to discuss with any of the State Farm agents. For a coffee shop, the Restaurant Business Insurance Policy is one of the best. The many distinctive features of the AIG Restaurant Business Insurance Policy include:

Liability Cover – Offers protection against potentially costly lawsuits and claims arising from bodily injury, property damage, and advertising injury.

Property Insurance – This covers your building and its contents such as inventory/equipment, from an accidental direct physical loss.

Equipment BreakdownCovers damage caused by equipment mechanical breakdown, for example, steam boilers explosion or loss of your hot water boilers.

Loss of Income - Food Contamination – You get coverage for loss of business income if your coffee shop or any other type of food and beverages business is ordered to be closed by the health authorities due to food contamination.

Other coverages that contribute towards making State Farm one of the best coffee shop business insurance companies include:

  • Loss of Income
  • Spoilage
  • Employee Dishonesty
  • Backup of Sewer or Drain.

It comes as no major surprise that many reviewers have rated State Farm as one of the best coffee shop business insurers today.

5. Foremost Insurance

Foremost fully understand the special insurance needs of a beverages business and has taken extra effort to design the best coffee shop business insurance coverage for you. Running a business successfully is already a tough job and the last thing any owner wants to be concerned about is lawsuits, compensation and business losses. Luckily, Foremost has some of the most flexible business policies designed to ensure you succeed in your coffee selling venture.

Foremost Insurance began its insurance operations in 1952, expanding its products to business and other specialty insurance products becoming one of the best coffee shop business insurance providers in the US.  Foremost forms part of the Farmers Insurance Group, known for specializing in the provision of insurance solutions for Commercial Auto, Workers' Compensation, property, liability and Umbrella coverage.

Workers’ Compensation – This is an important coverage suited for small business owners. The Workers’ Compensation program package from Foremost comes with specific product expertise that aims to help control losses and facilitate an early return to business operations.

Umbrella Coverage – This can give you added financial security for your small to medium size coffee shop business. Under this coverage, Foremost has you covered with some of the best coffee shop business insurance options.

Employment Practice Liability – This is automatically provided by Foremost on the majority of Business Owners Policies. It protects you from a broad variety of employment practices which you could be held liable.

Other features covered by the Foremost business insurance include:

  • Buildings and other structures.
  • Newly constructed or acquired buildings.
  • Business income loss and associated extra expense.
  • Backup of drains and sewer.
  • Outdoor business-related property.

Foremost Insurance has been operating for over 6-decades, providing specialty insurance products in 50 states. Financial stability and strength have kept this insurance company going strong when many others have folded up. Foremost has top financial ratings making it one of the best coffee shop business insurance companies today.