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  • Writer's pictureAmanda Bird

What You Should Know About Business Insurance for Food Businesses

If you are in the food business, whether in the manufacturing of ready meals or fast food delivery, you need business insurance for your company's safety, your equipment, your people, and your peace of mind.

Having a comprehensive insurance policy for your business means you know you're covered against anything that could unexpectedly happen, from fire or water damage to customer claims of food poisoning, among others.

In this article, we are going to give you a quick overview of what you need to know about business insurance for companies in the food industry:

What Types of Business Insurance Do I Need?

General Liability Insurance

General liability insurance is an absolute must since it covers your business in the event of an injury to another person or damage to their property. It also covers your business for a variety of claims, including:

  • Personal injury

  • Property damage

  • Medical expenses

  • Legal fees

  • Products liability

General liability policies typically offer a wide range of protection, including payment for damages, legal fees, and sometimes even damages for pain and suffering.

Workers Compensation Insurance

Workers' compensation insurance is required by law for your employees. This covers them in case of injury or illness, paying for their medical bills, and any lost wages if they can't work.

It also allows them to receive money if they cannot work and if they die in the workplace.

Workers' compensation covers you from accusations of wrongdoing during an employee's work hours.

Business Owner's Policy

Business owner's insurance offers general liability insurance, business property insurance, and additional coverage for your business.

This is an excellent option because it will provide you with many different types of coverage, and there are specific options available for every type of business.

Business Owner's insurance is designed to protect your business and your business assets, including furniture and fixtures, inventory, and valuable equipment.

Equipment Breakdown Insurance

If your business uses equipment or machinery and the source of its value is its ability to produce a product, then you should consider equipment breakdown insurance, otherwise known as Business Interruption insurance.

This covers you if your equipment breaks down or is destroyed and you cannot work, resulting in significant drops in your output and financial loss.

Product Recall Insurance

Product recall insurance pays for all costs associated with a business recalling a product and all losses when a customer refuses to return a product.

This can include the cost of repairing or replacing the defective product, any lost sales, and the cost of removing the product from shelves and returning it to the supplier.

With product recalls often hitting the headlines, this coverage is an absolute must and is one of the most important business insurance policies available.


You need to be properly insured no matter what type of business you have. You have to have the right business insurance to keep your business and your family safe.

Don't even think about taking the risk of going into a food business without the right insurance.

If you are in need of the right business insurance on Gold Coast, New Wave Insurance is here to help you. Contact us today so we can discuss your options!

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