Providing food for large crowds that is tasty, made with quality ingredients, and utilizing fresh produce can be a money-spinning business. Catering will let entrepreneurs indulge their love for food as well as give services to people.
A catering business can give you a high revenue, just keep in mind that the pricing, customer service, sanitary, and deliciousness are should be simply thrown together. In fact, it is proven that the average profits of a catering business can be up to $80,000. For starting caterers, the expected earning is about $30,000 which is not bad for beginners.
This line of business may surge ahead of the restaurant industry by 50%, but there are still risks to think of. Like protecting the business from false advertising, libel claims, damages caused by employees, or drink and food-borne illnesses. To prevent these risks from happening, caterer insurance can help.
Caterer insurance can protect the business against financial loss, accidents, and other legal problems that may cause financial strain to your catering business. And if you want caterer insurance that’s all-in, the statement below is what a good catering business insurance policy should have.
- General Liability Insurance: Also known as Business Liability Insurance, this will protect a business from any risk of accidents, bodily injury, and property damages that may happen. If you don’t have this, clients can put a lawsuit against you whether you did or did not do something wrong. And in just a matter of time, can put you out of business.
- Professional Liability Insurance Cover: This insurance can protect you from actual or alleged negligence against the clients. It will also prevent business financial loss in case you provide or failed to provide professional services. If so, a professional liability insurance cover also helps to cover the costs of valid claims.
- Commercial Auto: An insurance coverage that will cover the damages on your company vehicle. And as long as it’s being used for business purposes – whether it’s a personal vehicle or not, commercial auto insurance coverage is essential for a catering business.
If you are looking for the best caterer insurance that includes all three policies, Foxquilt Insurance Firm is perfect for you. Foxquilt is an Insurance Technology Company that is focused on helping small businesses to recover against uncertainties. Their aim is to make a manageable accidental loss in case of any damaging event that may happen to your catering business.
As an entrepreneur, Foxquilt can help you cover the costs that are associated with property damage and liability claims from the third party. By getting insured, the opportunity of your business to grow in the future is exceedingly possible. Remember, insurance is fool-proof protection just like how body armor protects a soldier during the most frightening situations.
