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Restaurant Insurance in Colorado

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Business Insurance in Colorado

Protecting Your Colorado Restaurant With Business Insurance

Restaurant Insurance in Colorado quote

As a restaurant owner in Colorado, your passion for creating unforgettable dining experiences is undeniable.

From designing mouthwatering dishes to cultivating an inviting ambiance, every element of your establishment is done out of love and care.

However, given the nature of food and beverage business operations, even meticulous planning may face unexpected hurdles and setbacks.

According to the National Restaurant Association, one out of four restaurants will experience a slip and fall accident annually. 

\Centers for Disease Control and Prevention statistics reveal that foodborne illness outbreaks cost an average of $300,000 per incident.

These statistics highlight the significance of having an all-encompassing restaurant insurance plan – an investment to protect your business from financial ruin.

Common claims faced by restaurant owners in Colorado include foodborne illness outbreaks, customer slip-and-fall incidents, and liquor liability incidents. 

Without adequate coverage, one event could drain resources quickly and threaten your future.

Choosing the best type of insurance policy is crucial to safeguarding your reputation and investment.

That’s where The Allen Thomas Group can come to your rescue. Get an online quote for your restaurant today!

Table of Contents

What is the cost of restaurant insurance in Colorado?

The cost of restaurant insurance in Colorado can vary based on different factors and the specific coverage needed. On average, most restaurants pay around $4,000 annually for a combination of a Business Owner’s Policy, workers’ compensation insurance, and liquor liability insurance.

Getting The Right Coverage Mix

Colorado Business Insurance Requirements and Regulations 

Before diving deeper into small business insurance in Colorado, it’s essential to be familiar with its legal requirements. All employers in the state must carry workers’ compensation insurance that covers medical costs and lost wages for employees injured while working, failure to do so can result in costly fines or legal ramifications.

As a Colorado restaurant owner, you have access to valuable resources and benefits provided by the Colorado Restaurant Association.

Joining can provide discounts and benefits tailored specifically for the industry, such as discounts on insurance policies tailored specifically for restaurant ownership.

The Allen Thomas Group is well aware of Colorado state law and leverages its two decades of experience to help you find the right insurance to protect your restaurant.

Types of Restaurant Insurance Coverage in Colorado

A general liability policy covers costs associated with property damage or injury caused by your business operations.

A customer spilling wine onto expensive clothing belonging to another patron and causing costly property damage claims against your business.

Without this Colorado insurance coverage, one lawsuit could spell financial doom for your business. So, liability insurance provides protection for your business.

General liability insurance cost for restaurants: Around $900 per year, ranging between $500 and $2,500 annually.

Workers’ comp insurance is required in the state of Colorado to protect your business and employees in the event of an injury at the work site.

The insurance covers medical expenses and lost wages for employees injured on the job.

Getting this insurance provides coverage needed to help protect your restaurant from workplace injuries.

Your restaurant is more than a physical space—it represents your hard work and passion!

Commercial property insurance safeguards your investment by covering the costs associated with repairing or replacing damaged property, such as your building, furniture, equipment, or inventory, should they become damaged due to covered losses like fire, theft, or natural disasters. 

Commercial Property Insurance for Restaurants in Colorado averages about $62 per month or $742 annually, with typical premiums ranging from $500 to $2,500 annually.

Imagine being forced to close your restaurant due to fire, flood, vandalism, or another covered event. Sadly, the loss of income could be immense.

That’s when business income coverage comes into the picture, offering reimbursement for lost income and ongoing expenses during this closure period.

This ensures that your cash flow remains uninterrupted even in the event of a forced closure. 

If your restaurant serves alcoholic beverages, liquor liability insurance should be an absolute requirement.

It will protect against lawsuits that arise from intoxication-related incidents, such as fights or DUIs, caused by patrons indulging at your establishment.

In Colorado, liquor liability claims can be extremely expensive to defend against. This insurance may help mitigate financial risk.

Liquor Liability Insurance for Restaurants in Colorado is essential for restaurants serving alcohol, averaging about $50 per month or $620 annually, with a range from $350 to $3,000 annually.

Food Contamination Coverage

Power outages, refrigerator malfunctions, or human errors may all contribute to spoilage of your restaurant inventory, leading to significant financial losses for your restaurant business.

Food spoilage coverage reimburses for these lost inventory costs so your restaurant can bounce back from any setbacks without crippling its finances in the process.

Errors and Omissions Insurance, commonly called professional liability insurance, protects restaurants against negligence claims related to the professional services they provide. 

If someone becomes sick from food poisoning that originated in your kitchen, a professional liability insurance program will help cover legal fees and damages awarded against you. 

In today’s digital era, damage caused by data breaches and cyberattacks could be immense for a business. 

An important coverage option, cyber liability coverage may be the protection against the costs associated with these events, such as notifying affected customers of data loss incidents and recovering data.

Your business could use cyber liability as a safeguard against potential lawsuits arising from data loss or other losses due to cyberattacks.

For many restaurants, a BOP can be an economical way to protect essential coverages, like general liability insurance and commercial property insurance, in one policy with more manageable premiums.

Restaurant, Taverns & Bar Insurance in Denver Colorado
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business insurance colorado cost

At The Allen Thomas Group, we understand that protecting your restaurant means more than simply purchasing appropriate policies.

It means working with an insurance agency that understands the challenges and risks unique to the food and beverage industry—something that makes us the ideal partner for your restaurant insurance needs.

With over two decades of serving restaurants in Colorado, The Allen Thomas Group has developed an in-depth understanding of their specific risks and challenges. 

Our expertise allows us to tailor solutions specifically designed to address them, ensuring we speak your language.

 

Insurance Solutions Customized For You

Yes, It's Really That Easy

We know how frustrating and complex the process of finding the right insurance can be and how it affects your peace of mind when you don’t have the right coverage. Let us help craft a policy that works for you.

Step 1: Assess

Tell us about your specific needs and we will find the right policy for you.

Step 2: Review

Review the results of our search.

Step 3: Service

We will walk you through your new policy step by step.

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That allows us to find the best rates for your restaurant

Get Comprehensive Insurance For Your Colorado based Restaurant Now

We are a family owned insurance agency that works with a network of leading insurance carriers to help you securely operate a food business with the most cost-effective coverage at competitive rates. 

At The Allen Thomas Group, we understand that protecting your restaurant is critical to safeguarding your culinary passion and hard-earned investment.

With decades of experience serving the food and beverage industry, our knowledgeable and devoted team is here as your trusted partners when it comes to restaurant insurance policies.

Whether your restaurant is fine dining, casual eating, a food truck, or any other, we will work closely with you to create tailored restaurant insurance to meet your unique needs and find if you need additional coverage for peace of mind. 

We provide ongoing assistance and guidance to ensure your insurance remains up-to-date and that any claims are handled smoothly.

As an independent agent, we look forward to being your trusted insurance partner in the long run.

Call today at 440-826-3676 for an insurance quote.

Frequently Asked Questions

Get More Insights On Making The Right Insurance Decision For Your Restaurant 

Vehicle coverage is not mandatory for restaurants in Colorado.

However, legal verbiage is tough to comprehend so you may carry Hired & Non-Owned Auto Liability to cover vehicles used by the company and protect yourself from costly claims. 

Getting business liability coverage for your restaurant may help protect a business against liability resulting from non-performing product sold.

This coverage is also known as Casualty insurance, which may protect you against any damage or injury caused by business activities.

    • The Brown Palace Hotel & Spa – The Ship Tavern: A Denver landmark, The Ship Tavern offers a refined yet relaxed atmosphere and classic American cuisine. https://www.brownpalace.com/dining/restaurants/ship-tavern/
    • The Little Nell – Aspen: Located slopeside in Aspen, The Little Nell is a luxury hotel known for its upscale restaurant that features innovative interpretations of regional dishes. https://www.thelittlenell.com/dine
    • Casati’s Italian Kitchen – Denver: A Denver institution since 1958, Casati’s offers traditional Italian fare in a warm and inviting setting. They are known for their homemade pastas and extensive wine list. https://www.casatismodernitalian.com/menus
    • Euclid Hall Bar & Kitchen – Denver: This award-winning gastropub features a creative menu with seasonal ingredients and an extensive craft beer selection. http://www.euclidhall.com/
    • Yelp – Best Restaurants in Colorado: This is a curated list by Yelp users highlighting various top-rated restaurants across Colorado. It provides a good starting point to explore based on specific cuisines or locations: https://m.yelp.com/search?find_desc=Restaurants&find_loc=Denver%2C+CO

Colorado Cities We Serve

Alamosa

Applewood

Arvada

Aspen

Aurora

Avon

Battlement Mesa

Berkley

Berthoud

Black Forest

Boulder

Brighton

Broomfield

Brush

Cañon City

Carbondale

Castle Pines

Castle Rock

Centennial

Cherry Creek

Cherry Hills Village

Cimarron Hills

Clifton

Colorado Springs

Columbine

Commerce City

Cortez

Craig

Dacono

Dakota Ridge

Delta

Denver

Derby

Dove Valley

Durango

Eagle

Eaton

Edgewater

Edwards

Englewood

Erie

Estes Park

Evans

Evergreen

Fairmount

Federal Heights

Firestone

Fort Carson

Fort Collins

Fort Lupton

Fort Morgan

Fountain

Frederick

Fruita

Fruitvale

Glendale

Gleneagle

Glenwood Springs

Golden

Grand Junction

Greeley

Greenwood Village

Gunbarrel

Gunnison

Gypsum

Highlands Ranch

Johnstown

Ken Caryl

Lafayette

La Junta

Lakewood

Lamar

Littleton

Lochbuie

Lone Tree

Longmont

Louisville

Loveland

Manitou Springs

Milliken

Montrose

Monument

New Castle

Northglenn

Orchard Mesa

Parker

Pueblo

Pueblo West

Redlands

Rifle

Roxborough Park

Salida

Security-Widefield

Severance

Shaw Heights

Sheridan

Sherrelwood

Steamboat Springs

Sterling

Stonegate

Stratmoor

Superior

The Pinery

Thornton

Trinidad

Twin Lakes

Vail

Welby

Wellington

Westminster

Wheat Ridge

Windsor

Woodland Park

Woodmoor