Controlling costs in your restaurant is vital for success. Whether its food costs, labor costs, or insurance.

Here are 3 ways to reduce the insurance costs in your restaurant.

1. Check your class codes. Insurance companies classify restaurants in many different ways. Do you have table service, a drive-thru, live music, a bar? Be sure your insurer understands the details so they can get you the correct rate. Sometimes saving money on your restaurant insurance is as simple as getting into a better class code.
2. Get the most from your buying power and leverage lower costs whenever possible. If you have multiple locations, explore combining coverage onto one policy. Offering to place your Workers Compensation with the same company that is writing your Property Insurance or General Liability Insurance may allow the underwriter to apply additional credits.
3. Work with a specialist. Does your current agent specialize in the restaurant industry? At Statement Insurance Agency, we quote restaurant insurance everyday. We stay on top which insurance companies have just taken a rate reduction (or a rate increase). Let us help you navigate the insurance landscape from year to year and let you know when the market has changed and it’s in your best interest to switch companies.