Restaurant Insurance is More Necessary Than Ever as Some Owners are Overlook Coverage Due to Complexities

There is no industry that is immune to surprises and shocks.
However, the restaurant industry has been facing its own unique
blend of challenges recently, forcing owners to question the
adequacy of their restaurant insurance coverage. For many,
insurance is perceived as a necessary yet complicated evil,
something begrudgingly purchased and then promptly forgotten,
only remembered when a crisis strikes. According to the National
Restaurant Association, the restaurant industry's estimated sales
for 2023 is $997 billion, but how many of those hard-earned
dollars are at risk due to inadequate insurance coverage?


So, what are the key insurance issues restaurant owners must
understand to protect their investment? And how can they navigate
the insurance landscape efficiently and effectively?


For an episode of "The Main Course” host Barbara Castiglia
invited John Cassetta, Sales Manager at CoverWallet — a
commercial business insurance company, to provide insights and
clarity on the critical topic of insurance for restaurant owners.


In this thought-provoking episode, Castiglia and Cassetta
explored:


The crucial elements of a Business Owner Policy (BOP) that
every restaurant owner must understand.

The impact of the pandemic on restaurant insurance and how
restaurants have had to adapt their coverage to changing
operations.

The often-overlooked importance of understanding lease
contracts and the division of responsibilities between landlords
and restaurant owners.



John Cassetta is the Sales Manager at CoverWallet. He went to The
University of Texas at Austin, and has over 20 years of
experience in the insurance industry, with a specific focus on
small businesses. In his role at CoverWallet, he leads the
digital insurance platform, which is designed to simplify the
process of buying and managing business insurance.