Author Topic: What insurance do I need ?  (Read 1399 times)

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Offline all1knew

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What insurance do I need ?
« on: July 20, 2011, 03:37:39 PM »
Hello all,

 What insurance do I need to have setup prior to launching a new pizza business that will offer delivery and carryout?

Bill


Offline TXCraig1

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Re: What insurance do I need ?
« Reply #1 on: July 20, 2011, 04:08:59 PM »
You should have that discussion with your lawyer along with permits, licenses, etc. Spend a couple bucks and get your start-up done right. It could save you a bunch in $$$ and hassle later.

How do you plan to set-up your business. Please don't say sole proprietorship.

CL
Pizza is not bread.

Offline clkou

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Re: What insurance do I need ?
« Reply #2 on: October 05, 2011, 11:17:54 AM »
Rather than start a new topic, I'll try piggy backing off this one. Is there a good guide, list, or resource that talks about all the necessary hurdles to jump through to get your business off the ground from scratch? Off the top of my head, I'm thinking you need:

  • Food vendors license
  • Business license
  • Insurance
  • Liquor license if you plan to serve alcohol
  • Accountant

What do those licenses normally run? I live in Tennessee. Do you really need a lawyer, too?

Offline Tman1

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Re: What insurance do I need ?
« Reply #3 on: October 05, 2011, 06:47:57 PM »
You can find a lot of info at your state's website. It'll lay out some of the stuff you need to get going. OR call up your local health inspector and they'll put you on track. You're going to eventually have to talk to them.  Good luck!  :pizza:

Offline dhs

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Re: What insurance do I need ?
« Reply #4 on: October 05, 2011, 08:03:55 PM »
Tman1 - Talk to an insurance agent for this. Then talk to two more. Done.

My take - don't trust anyone's word as gospel when it is critical for your business and especially when involved with the bureaucracy of government. Your lawyer, accountant, inspector, whoever will respect you if you have an understanding of what they are discussing with you. But, more importantly, you can sense when something is not sitting right.

Offline Tman1

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Re: What insurance do I need ?
« Reply #5 on: October 06, 2011, 02:07:45 PM »
Tman1 - Talk to an insurance agent for this. Then talk to two more. Done.

My take - don't trust anyone's word as gospel when it is critical for your business and especially when involved with the bureaucracy of government. Your lawyer, accountant, inspector, whoever will respect you if you have an understanding of what they are discussing with you. But, more importantly, you can sense when something is not sitting right.

I don't get it.    ???

Offline dhs

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Re: What insurance do I need ?
« Reply #6 on: October 06, 2011, 09:17:23 PM »
Sorry that was confusing. What I am trying to say is there is a lot of advice to be had out there. This includes from professionals you will deal with. For critical items, such as insurance, do due diligence to form your own opinion based on many points of input. This is especially important when dealing with the government since it can be soooo complicated and even contradictory. In hindsight, asking on this board is probably good evidence you are already thinking in these terms.

Best of luck

Offline dhs

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Re: What insurance do I need ?
« Reply #7 on: October 06, 2011, 09:58:50 PM »
The above makes it sound like I am saying you should go out and learn all there is to know. That would be crippling to getting anything done and also harmful to your professional relationships if you questioned everything. With this insurance, for instance, it would be a mistake to go out and get one quote and run with it. I would go out and pick 3 agents. It will take time to get them to give you a quote but during this process you will get a feel for them and also be able to take what you learn and ask intelligent questions as well as come to an informed conclusion.

To add some real info based on my experience. I don't plan on doing delivery. However my insurance, in simple terms, was broken down into two aspects. Since I will be in a NNN lease, I will need to have property insurance. This will need to be in place from day one and will include the existing property as well as my improvements to the property. During build out there is also liability coverage that needs to be in place. Before opening, the restaurant will be reviewed in person by the insurance company but they should be able to give you a basic quote. For coverage without delivery, I will be looking at coverage for the property, improvements we made, general liability, liquor liability (if selling alcohol), and specific coverage such as food spoilage, employee theft, etc. The recommended amounts and specifics are something you will need to discuss with the agents and possibly the landlord.


 

pizzapan