Bakery Insurance
Insurance Coverage for Bakeries
The bakery insurance coverage from Lloyd Sadd Insurance is designed to encompass both retail and wholesale operations, offering comprehensive coverage for their unique needs.
Premises Liability
This covers injuries or property damage that may occur in your bakery. For example, a customer that slips on a spill and is injured, then decides to sue you for the damages. With premises liability included in your bakery insurance policy, you will be compensated for the court costs as well as the compensation you are required to pay as a result.
Product Liability
The custom baking insurance policy that we have for you also includes product liability to protect you against allegations that your food may have caused someone to be ill or have an allergic reaction.
Business Interruption
If your bakery must close due to an insured loss, it does not mean the bills will stop coming and your employees will no longer want to be paid. If your location is shut down as a result of damages caused by flooding or a fire, then your bakery insurance will pay your continuing expenses. This includes key salaries, even hourly wages if you wish, as well as your net profit before taxes.
Building and Contents
This element of protection covers the physical location of your bakery. The counters, furniture and décor as well as finished stock and raw materials are also covered.
Equipment Breakdown
You have invested a great deal of money in your equipment. If your equipment fails, that means that your business would have to stop production. Equipment breakdown coverage included in your baking insurance policy provides you with protection against such a breakdown and you will be covered for repairs or replacement costs for your equipment.
Spoilage Coverage
This coverage included in your insurance policy will compensate you for the cost of contaminated food products that are unsafe to eat. For example, if your fridge breaks down overnight without your knowledge. You come to work the next morning only to find that thousands of dollars’ worth of goods is ruined. In an event such as this, your spoilage insurance will cover the cost.
Product Recall
From time to time, you may have a need to recall, inspect, re-stock and dispose of the defective products. With product recall coverage included in your baking insurance policy, the expenses will be covered. This endorsement alone could save you hundreds or even thousands of dollars.
Crime Coverage
You can do all that you can to hire honest, hardworking employees, however you may one day have to deal with theft by employees. If this is ever the case, our crime coverage will protect your finances to soften the blow of such disloyalty.
Goods in Transit
If your bakery provides delivery or catering service, you will need this type of coverage included in your insurance policy to make sure that all of the stock that you have in your delivery vehicle is covered in the event of theft or accidental damage.
Commercial Vehicle Insurance
You may have to use a company vehicle for picking up ingredients or for the delivery of freshly baked goods. This is essential if you want your business keep moving forward and continuing to grow. In addition to your bakery insurance, we would be happy to provide you with an estimate for custom coverage on your delivery vehicles.