Commercial Insurance

How do you determine how much restaurant and liquor insurance coverage your establishment needs?

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Opening your own restaurant offers an exciting opportunity, but you need the right insurance just as much as you need the right sous chef. Few chefs realize it with their first restaurant, but commercial insurance provides one of the most critical business tools at their disposal.

Your restaurant’s insurance protects your financial investment from most losses. Suppose your food doesn’t taste good, so no one eats there. In that case, that’s on you, but if a tornado damages your café or hurricane winds tear apart your restaurant’s patio and roof, commercial property insurance from Martin Insurance Team covers it. Business interruption insurance helps you pay yourself and your staff while you’re closed for repairs.

Most restaurants, cafes, coffee houses, and bars carry more than one insurance policy. What policies do you need, though, and in what amount of coverage? The amount in question varies by eatery. We’ll help you determine how much based on your building cost, operating costs, sales volume, number of employees, etc.

Most establishments start with a business owners policy (BOP), then add to it. The BOP contains four policies that every business needs – general liability, business property, business liability, and business interruption insurance.

If you serve alcohol of any kind – beer, wine, mixed drinks, etc., you need to carry liquor liability to cover damages by an intoxicated individual or group. If you’re a dry establishment, you can skip this policy.

Without Exception, Buy This Coverage for Your Eatery

  • Spoilage: If the power goes out and your food spoils in the refrigerator or freezer, this insurance covers your loss.
  • Equipment Breakdown: This policy covers damage, repairs, and replacement of freezers, refrigerators, steamers, boilers, ovens, ice makers, and food warmers.
  • Employment Practices Liability: This policy protects you if an employee sues your eatery for harassment, discrimination, or another workplace tort.
  • Umbrella: Commercial umbrella insurance extends your general liability and commercial auto liability coverage policies.
  • Sewer Backup: Yes, there’s a specific policy for sewage. Most property damage policies exclude sewer backup as a peril, and sewage happens.
  • Utility Interruption: This policy covers interruptions to any utility needed to operate your restaurant – electric, gas, water, Internet, telephone, etc.
  • Electronic Data Processing: The electronic data processing insurance policy has only existed as long as computers and modern cash registers, but it does qualify as a must-have. It covers your computers, registers, and electronic table ordering systems.
  • Extra Expense: When a named peril like fire damages your Ft Myers, FL eatery, you may need to rent a new location temporarily to continue operation while your main location undergoes repairs. This policy pays for that.

Contact Us

In Ft Myers, FL, call Martin Insurance Team for the restaurant insurance you need to protect your business investment. We’ll help you build a policy that covers exactly what you need.

What types of injuries are covered by workers compensation?

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Workers’ compensation provides various benefits for employees who become injured on the job. It’s designed to provide medical coverage and wage replacement for injured employees/workers. Many different on-the-job injuries are covered under a workman’s compensation policy. Our Martin Insurance Team is dedicated to helping our Ft Myers, FL clients understand how workers’ compensation works.

What is Worker’s Compensation?

Workers’ compensation is an insurance policy designed to protect and support employees who become injured while working. This type of insurance usually provides medical coverage and wage replacement for injured employees. Other benefits that may also be included are disability and death benefits.

What Types of Injuries are Covered By Worker’s Compensation?

Typical injuries often covered by workers’ compensation insurance include fractures, eye injuries, burns, sprains, torn ligaments, and more. Sometimes a worker’s compensation policy will cover an old injury that’s been worsened by a work environment if it can be proven. However, any injury sustained at work or while working may qualify an employee for workman’s compensation benefits. The most common type of on-the-job injury is muscle strain. In fact, strains make up over thirty percent of all workman’s compensation claims. However, workman compensation claims can run the gamut from mild injuries to severe or deadly. Often, injured employees are required to take a drug test to ensure that drug use didn’t play a part in an on-the-job injury.

If you’re a business owner or employer and have questions about workman’s compensation, give us a call. Our Martin Insurance Team is committed to helping our Ft Myers, FL employers understand the benefits of workman’s compensation. Give us a call. We’re standing by.

What is general liability insurance and what does it cover?

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General liability insurance protects businesses from property and bodily injury claims caused by/from using a business’s products, services, and operations. General liability insurance is broad in that it covers a wide range of areas designed to provide liability protection from general business risks. Our Martin Insurance Team in Ft Myers, FL is committed to helping business owners understand the benefits of general liability insurance.

How Does General Liability Insurance Work?

General liability insurance is designed to provide liability protection for businesses in two main areas, including protection for your business location and operations and your products and completed operations. These two areas are considered significant areas of risk for most businesses. This type of insurance also protects your business if you’re sued for advertising injury. Coverage for damage to your landlord’s property is included as well.

What Does General Liability Insurance Cover?

Most businesses need liability protection from personal injury, libel, slander claims, property damage, and bodily injury. These are all areas that many companies couldn’t afford to handle without the help of an insurance policy. Claims against a company for property damage or bodily injury that may occur during normal business operations can quickly become too expensive to handle, not to mention other claims that might be brought against a business. General liability insurance provides liability protection to cover typical risks that many businesses may deal with.

Other Considerations…

How much your company pays for general liability insurance is based on the size and condition of your workplace. For example, larger spaces usually create more opportunities for bodily injuries, and property damage can occur. This is especially true if your business location is open to the public. These factors can affect how much you pay for general liability coverage. If you’re a business owner with questions regarding general liability insurance, call us. We’d be happy to answer your questions.

How Tax-free retirement Services in Florida Can Help you Prepare

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Planning for your financial future is essential. For those in the Ft Myers, FL area, taking advantage of any tax advantages available is a good option. Various benefits can come when you utilize the tax-free retirement services investment professionals provide.

Reduce Future Tax Liability

One of the advantages of using tax-free retirement services is that they can help you save money on taxes now and in the future. As you are planning for the future, reducing taxes is very important. This will help make your income more predictable and reduce your risks. The use of tax-free retirement services will help you generate tax-free income in retirement and help save a lot of money.

Investment Alternatives

The use of tax-free retirement services is also a good idea as it can help you find investment alternatives. When you are preparing for your future, it is crucial that you diversify your investments. This can help you reduce your risk that one or two investments will go down in value. With a tax-free investment plan, you can help to diversify your investments into different funds and alternatives, which will further help you manage risk. Investment professionals will help you create a personalized plan based on your personal situation and risk tolerance.

When planning for your financial future, taking advantage of tax-free income and savings accounts is essential. As there are a lot of complexities that come with this investment strategy, those in the Ft Myers, FL area should call the professionals with the Martin Insurance Team. The insurance professionals with the Martin Insurance Team can offer a lot of support when it comes to helping you prepare for your retirement and the tax advantage of these benefits.

Required Commercial Insurance in Florida

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In Florida, there are two commercial insurance types that are required for many businesses in the state. These two commercial insurance policies can help to protect your business, but they aren’t the only insurance policies that could be useful to your business. There are many other insurance types, including cyber insurance and general liability insurance, that you should look into before you get your commercial insurance. To get started, call us at Martin Insurance Team in Ft Meyers, FL.

Workers’ Compensation Insurance

This type of commercial insurance is required in Florida for businesses that have at least four employees. If you have four or more, it doesn’t matter if they are part-time or full-time- workers’ comp insurance is required. If your business is in the construction industry, however, there is a different standard. All construction companies must have workers’ compensation insurance if they have even just one employee. This insurance pays the expenses due when an employee has an accident and becomes injured at work. This includes paying their medical bills and any lost wages due to the accident. 

Commercial Auto Insurance

If your Florida business owns a vehicle, that vehicle has to have a commercial auto insurance policy. This coverage must include at least the minimum required amount for personal injury protection and for property damage liability. In Florida, personal injury protection coverage pays for your own medical bills. This lessens the incentive to sue someone for medical bills after an accident. If you want better coverage than the bare minimum, there are other coverage types that you can add to your policy. This includes collision insurance to cover your vehicle if you cause an accident and comprehensive insurance that covers off-road problems. 

Get Your Commercial Insurance Coverage

If you own a Florida business, make sure you know which commercial policies you need. Give us a call at Martin Insurance Team in Ft Meyers, FL to find out more. 

Types of Liabilities to Cover With Illinois Restaurant and Liquor Insurance

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Restaurant and liquor liabilities are a serious concern for restaurant owners in Illinois. One wrong thing could turn into a significant legal crisis. Where food and drink are concerned, establishments today need to be proactive when it comes to safety and protection for both customers and employees.

At Martin Insurance Team, we want Evergreen Park, IL restaurants and bars to be protected from any legal and financial crisis. There are a number of potential liabilities to consider when you are buying Illinois restaurant and liquor insurance.

Food Liabilities

There is always going to be a concern that a food problem could arise in your establishment, no matter how careful you are. You may have the best health inspection record in town, you still need to be covered for every possible scenario. This can be covered through general liabilities. 

Labor Liabilities

Labor liabilities are sometimes more expensive than customer liabilities. If an employee injures themselves on the job, or someone else, the problem becomes a crisis.  Safety training is a great place to start and may help with insurance costs. 

Be sure that all of your employees are certified to handle liquor service responsible. Workers’ compensation insurance is important, but so is commercial general liability insurance.

Liquor Liabilities

The number of potential liquor liabilities in an Illinois restaurant is infinite. Anything can happen. Insure yourself as much as possible with liquor liability insurance.

The law does stipulate that in most cases, intoxicated patrons are responsible for their own actions, however there are situations that may be excluded where you could be held liable. Insure yourself, and lay down the law when you need to so that you can avoid the claim in the end.

Get a Quote

When you are serving alcohol and food, the stress of potential liabilities could be crippling. Martin Insurance Team wants the restaurant owners of Evergreen Park, IL to eliminate this stress. Call us for a quote for liability insurance today.

How Cyber Insurance Protects Your Business

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Cyber insurance is a type of liability coverage that can come in handy for most businesses. Virtually every business has an online component these days, and cyber problems can cause serious damage. If your business doesn’t have cyber insurance, contact us at Martin Insurance Team in Evergreen Park, IL.

Data Problems

One of the main problems that encourage people to get cyber insurance is data breaches. These happen to businesses of all sizes. You don’t have to be a large, well-known business for this to happen. When a data breach happens, your company information, banking records, passwords, and other important information can be put out there for all to see. What is especially damaging is that the data you have on your customers, and employees, can be posted online after one of these breaches. That means credit card numbers, personal information, etc. 

Your Liability

The problems really start to mount when your customers have their data stolen. Even if it isn’t used right away, it can be posted online so that it can be used at any time. Many people have to cancel credit cards, put a hold on their credit, etc. And if the data is used right away, it can end up costing them a lot of money. This is why so many companies have had to make payouts to their customers for data breaches. If this happens to your business when you have cyber insurance, they handle much of the aftermath so that your business doesn’t go bankrupt. It’s important to have this coverage if your business has a website, but it is even necessary if you simply use a computer system for storing customer data. 

Get Your Cyber Insurance

To protect your business against catastrophic fines and lawsuits filed against you. Get cyber insurance to keep your business protected. Call us today at Martin Insurance Team in Evergreen Park, IL to find out more. 

What every business owner in Evergreen Park, IL needs to know about general liability insurance

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As a business owner in Evergreen Park, IL, knowing what works for your business is the most significant step you can take to achieve your targets. One of these steps is having general liability or business liability insurance. According to the Martin Insurance Team, it’s a critical policy that every business owner must-have. So what makes it so unique, and how does it help a business achieve goals? Read on to find out!

It’s all about lawsuits

As a business owner, you are legally responsible for anything that happens in your business. If another party gets hurt or their property gets damaged while at your business, you may be held liable and policy helps pay medical expenses and legal costs in case you are sued. It also covers you for property damage and injuries that could result from your employees, products, operations or services.

Liability claims can be costly

Lawsuits in Illinois are not cheap. They can quickly sweep your bank accounts clean if you are not well-prepared. If you don’t have general liability insurance, you might have to cover these costs from your pocket. If someone sues your business for slander or libel because of something you or your employees wrote, said or did, general liability can help cover legal costs. Similarly, if your business gets sued for copyright infringement, like using other people’s photos in your advertisement without permission, the policy can cover the costs.

General liability fits in all types of business

It doesn’t matter whether you run a small, mid-sized or large company. It also doesn’t matter whether you provide services or deliver goods; every business in Evergreen Park, IL, needs general liability insurance. You can be sued by a client, another company or even an employee. If you don’t have enough liability, your business can easily crumble down due to a lack of funds.

For more information about general liability insurance, contact Martin Insurance Team today!

What Is Workers’ Comp Insurance, And Why Do I Need It?

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What would your Evergreen Park, IL business be without the employees? Naught. Nada. Zero. Your employees are the most valuable assets in your business. In light of this, you need workers’ comp insurance from Martin Insurance Team to protect your most prized investment. 

Why you need workers’ comp insurance

Whether you are a startup or seasoned business in Illinois, the state requires you to carry workers’ comp insurance. Failure to have this insurance will expose you to civil and criminal lawsuits. However, besides compliance, carrying workers’ comp insurance offers the below benefits.

Protects your business

Can you imagine the actual costs of accident-related medical expenses? It can be massive, and not many businesses can survive the blunt of work-related injury expenses. Thankfully, when you carry workers’ comp insurance, you don’t have to pay for employees’ medical expenses, saving you substantial finances and loss of productivity.

Businesses may view workers’ insurance comp as an unnecessary expense, but the premium is far less compared to the medical treatment of an injured employee. As a matter of fact, one significant work-related injury claim can cause unspeakable financial damage to your business. Would you want that for your business? 

Protects your employees

Regardless of how safety-conscious your work environment is, accidents can still happen. According to the Bureau of Labor Statistics, over 6 million Americans suffer from work-related injuries every year! Given the inescapable fact that injuries are never far off from the workplace, workers’ compensation insurance becomes no-miss insurance. This insurance protects your employees by covering their medical expenses and paying wage replacement benefits where applicable. 

Having proper workers’ comp insurance is a smart move to protect employees and your business. If you need workers’ comp insurance for your Evergreen Park, IL business, you can trust Martin Insurance Team to ensure your business is well-covered. Contact us today to partner with us.  

What Is Included in a Cyber Insurance Policy?

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In Evergreen Park, IL, the agents of Martin Insurance Team are available to discuss the benefits of cyber insurance and how it can protect both individuals and business owners who rely heavily on the internet for their day to day activities and operations. 

Covers the Loss of Confidential Information Caused by Data Breaches

Data breaches can affect everyone. While many people believe that businesses are the primary target, individuals are sometimes targeted as well. Confidential information like social security numbers, birthdates, and other identifying information is compromised which can lead to stolen identities and other suspicious activities. Cyber insurance can minimize your risk if this type of breach occurs.

Restores Financial and Personal Information

Cyber insurance also can assist you in recovering your personal information and restoring your financial accounts. This includes credit cards, bank accounts, and any investments you may have. Restoring your personal information may require the services of an attorney. Most cyber policies include payments to attorneys and other recovery professionals.

Recovers Damages to Computers and Other Devices

Hackers and other cybercriminals often use malicious software and viruses that can damage your computers and other electronic devices. Cyber insurance offers compensation that covers any repairs that may need to be made. It will also cover the cost to replace any equipment that cannot be prepared.

The agents of Martin Insurance Team are experts when it comes to dealing with cyber insurance and the many issues involved in hacking and cybercrime. If you live in the Evergreen Park, IL area and want answers, all you have to do is call and schedule an appointment with one of their agents. Don’t risk your financial security. Schedule your appointment today!