In the early 1990s, a 79 year old woman purchased coffee at a fast food drive-thru in New Mexico. The coffee spilled in her lap, causing third degree burns. As a result, she sued the corporation in the now infamous case that led to warning labels on every cup, stating that the coffee is hot.
Could a situation like this happen to your business? If so, are you properly protected?
Let’s take a closer look at the risks facing your coffee shop – and how to deal with them.
Risks Facing Coffee Shops in Indiana (& Other States)
As a coffee shop owner, you face a number of potential risks, such as:
- Customers slipping and falling at your coffee shop
- Structural damage due to severe weather
- Equipment breakdowns
- Food spoilage
- Employees injured at work
- Spills, burns, and other customer injuries
If one or more of these occurred, do you have a plan? Would it put you out of business?
Wake Up and Smell the Reality
As an independent coffee shop owner, you wear many hats, and you’re often on your own when making important business decisions. For example, what happens when an employee doesn’t show up for his shift? You’re probably covering for him. Need a flyer designed for an upcoming event? Looks like it’s time to brush up on those Photoshop skills.
When it comes to risk management, your business is too valuable to simply “wing it.”
Sure, it may be tempting to skimp on insurance coverage, especially when your coffee shop is just starting out. But finding the appropriate coverage for protecting your business is not a decision you should face alone. That’s why it’s important to find an independent insurance agent who understands your coffee shop and coverage needs.
Protect Your Coffee Shop
General liability insurance is essential for coffee shop owners. This type of insurance protects your business in many instances, such as replacing lost items after a theft, covering medical bills for an injury that occurs on business property, and much more.
Property insurance covers damage to your building and equipment. Depending on your coffee shop set up, you may also want to consider specialized policies such as outdoor sign coverage. Employees should also be covered by a workers’ compensation policy (in fact, it’s the law in the State of Indiana).
Spoiled food and equipment breakdowns can result in a loss of income and a lot of stress. As a restaurant owner you’ll want to make sure that food spoilage and equipment breakdown coverage are included on your coffee shop’s insurance policy. This type of coverage can mean the difference between keeping your company running smoothly and facing financial devastation.
Find the Right Fit
The independent insurance agents at Kincaid Insurance can help you find the best business insurance policy for your coffee shop without breaking the budget. Kincaid Insurance is headquartered in Rockport, Indiana and regularly works with small business owners throughout the Indiana, Illinois, and Kentucky Tri-State area, including: Jasper, Newburgh, Mt. Vernon, Louisville, Owensboro, and Evansville.
Contact Kincaid Insurance today at 1-877-888-5506. We’ll help you assess your needs and provide you with a no-obligation free quote.Request a Free Quote