Hospitality Business Insurance
The hospitality industry in Nova Scotia is changing, with a wide range of business categories experiencing expansion and growth. Consider these key hospitality business insurance coverages.
Key Coverages for You and Your Business
Commercial Property Insurance
Protects your physical assets such as building, stock, equipment, and computers, including equipment removed from your premise. Examples of this could include your property being temporarily in transit or while at a client’s business
Business Interruption
Also known as Business Income Insurance, this is a type of insurance that covers the loss of income that a business suffers after a disaster.
Equipment Breakdown Insurance
Equipment Breakdown Insurance provides coverage for loss due to mechanical or electrical breakdown of nearly any type of equipment, including photocopiers and computers.
Commercial General Liability
Commercial General Liability
Protects your business if you’re found legally liable for injuries or property damage caused by your employees, completed work, or accidents on your premises involving visitors or customers, or at your customer’s location.
Hospitality Business Insurance Insights
If you operate one of these hospitality businesses, here are a few reasons to protect yourself with the right hospitality business insurance coverages.
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Why do Restaurants need insurance?
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Whether you operate fine dining, casual dining, or a food truck, as a restauranteur you will face a number of risks. These risks may include property damage to food contamination, all of which could force you to close your doors. Without insurance, owners could face significant costs such as business interruption and legal fees.
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Why do Breweries & Wineries need insurance?
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Brewers and winery operators face a range of risks, from damaged production equipment to contamination of stock causing a recall of your product. Protect your business against the potential of significant costs with the right mix of insurance coverages.
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Why do Bar/Pubs need insurance?
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Owner of bars and pubs face a variety of risks. Whether your property is damaged in a windstorm or a patron is overserved and is injured. Without insurance, owners could face significant costs that could hurt their business operations.
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The Bauld Process
When you engage the Bauld Team for your insurance needs, you will appreciate our Commercial Insurance Advisors’ depth of insurance knowledge and their hands-on personal approach.
1. Assess & Collect
Your Bauld Commercial Advisor will complete a needs assessment with you, understand your business risks, and collect answers to all required questions.
2. Quote / Advice
We gather quotes from a selection of insurance providers and share quote prices and options with you. Then we recommend the best policy for your unique business needs.
3. Select / Sign Off
Once a policy is selected, we will guide you through the application sign-off process, and arrange an appropriate payment plan.
4. Ongoing Support
If your circumstances change or if you need to make a claim, our team will help you through the process, looking out for your best interests.
Frequently Asked Questions
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Someone becomes ill from your product
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If you sell or manufacture any product as part of your business, property damage or personal injury that occurs to any third party from the use or consumption of that product is your responsibility. Costs to alleviate the situation could include; costs to recall your product satisfy the cost of injury to the third party and or repair your reputation in the community.
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Your credit / debit machine is hacked
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Your business will be held responsible for any theft of customer information that was entrusted to you by use of your debit/credit machines. If your equipment is compromised and customer information is stolen, fines and or legal fees to repair the situation could be enormous for a small business.
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Is Your Business Well Protected?
You work hard to make your business successful. Our Bauld Commerical Insurance Advisors can help you better protect your business.