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  • Writer's pictureAmanda Bird

Restaurant Insurance: Here Is Why It’s So Important

The restaurants in Australia are considered some of the finest in the world. Since Australians love to eat, this shouldn't come as a surprise. This ranges from award-winning fine dining to beloved local burger joints.

As the owner of a new restaurant, you know that running a food establishment requires a lot of hard work. A single mishap could cause everything to crumble. It's prudent to protect your restaurant and your customers!

This doesn't just mean taking out an insurance policy or two. It means having the right ones which can offer the best protection and coverage!

The Importance of Restaurant Insurance

There's plenty to take in when looking into policies for your restaurant. Aside from fire coverage, property insurance and workers' compensation insurance, consider:

  • Business expense coverage

  • Speciality insurance coverage

It doesn't start or stop there, since other factors can bring other risks too. Does your location have valet parking? Are deliveries a part of the way you serve food? Is there liquor on your menu? All of those things will play a key role in what you ultimately decide on. Even the property itself will go a long way in these considerations: is the space or building the restaurant is in being rented? Or are you the owner of the space where your business is?

Here are key factors to consider:

Bankruptcy - There is often a lot of financing involved when restaurateurs launch a business. This includes loans, among other things. Will you be able to rebuild should anything major happen out of pocket with no issues? If the answer is no, then you absolutely need insurance.

Equipment and buildings - Sometimes, accidents cause notable kitchen damage that's incredibly expensive. Not having insurance will make replacing key components very expensive fairly quickly.

Lawsuits - Unfortunately, things can happen which involve customers taking out legal action. Claims could range from alleged food poisoning or having gotten hurt while in your restaurant (slips, falls, etc).

Protection of your Reputation - When there's a claim against your damages, the legal costs can be partially or fully covered by insurance. It will also help things move forward amicably and get resolved in a timely manner. That way, there won't be a long court case that will do a number on the publicity of your business.

Vital Restaurant Insurance

The top insurance types that restaurant owners should select from are business insurance and public liability insurance. Both play a major role in protecting you and your establishment.

  • Business Insurance - This covers fire damage, equipment failures and unavoidable needs to shut down temporarily.

  • Public Liability Insurance - As the term suggests, this is deals with liabilities should there be injuries in your restaurant or space. (This is not the same as taking on a workers' compensation policy!)


Taking out insurance for a restaurant business is crucial. Aside from the usual policies involving workers' compensation and fire damage, two key insurance types have to be considered. The main ones are public liability insurance and business insurance.

Looking to get business insurance on the Gold Coast for your restaurant? New Wave Insurance is here for you! We can’t wait to help in finding proper insurance for vehicles, assets and businesses. Contact us today!

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