Fire annihilates your restaurant: One of your junior cooks accidentally starts a kitchen fire while frying up some dishes. The fire spreads rapidly. Even though you called the SCDF, it’s too little, too late. The fire engulfs your entire restaurant and destroys it. All the money you invested into your eatery now hangs in the balance.
If you have Commercial Property Insurance, the insurer would pay to restore your restaurant to its original condition. The insurer would cover the costs of removing the debris in your restaurant, so that rebuilding work can begin. Expenses related to hiring architects or surveyors to help with the restoration process would also be covered. The insurer would cover your renovation costs. This includes various expenses like bringing in furnishings, carpentry, furniture, electrical wiring, and more. You would also have coverage for replacing equipment and food/beverage stocks destroyed by the fire.
Diner slips and falls, sues you: One of your cleaners doesn’t dry the floor after mopping it, and fails to warn customers that the floor is wet. Eventually, an elderly diner walks in, and promptly slips and falls on the slippery floor. The diner hits his head hard, and suffers brain trauma. The injured customer launches a personal injury lawsuit against you. They demand you pay for their medical expenses, and compensatory damages. Public Liability Insurance would cover your legal expenses like lawyer’s fees, and the cost of damages.
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Public Liability Insurance would cover your legal fees, and the settlement that you might have to pay out.
Your cook suffers fall in kitchen, breaks arm: Your cook was in the kitchen. The floor was wet. As he was moving between stations, he slips. He suffers a fracture on his arm from the fall. His arm gets placed in a cast. His medical bills are $4,000. He is placed on MC for 4 weeks. Under WICA laws, you must pay his $4,000 medical bill, plus his salary while he’s on MC due to his work-related injury. WICA Insurance would pay for his medical bills, and his lost wages.
