Bakery Insurance
If you are in the bakery industry, there is a lot in your business that needs protecting. This includes equipment, space, the products you use to create your delicious confections, and those creations themselves. A bakery is a different business genre, so it needs a tailored insurance policy that covers what you need and doesn’t include the features you don’t. Below we will talk about what bakery insurance is, what it covers and why it is beneficial to have as someone in the bakery business. If you want to know how to protect your dough (pun intended), keep reading below.
If you would like to read more information or learn more about the pricing of business insurance, you can do so here.
What Is Bakery Insurance & What Does It Cover?
Bakers and bakeries insurance is a specialized kind of insurance tailored to cover you and your bakery. Many policies even adjust to change with the year, including a 25% seasonal increase in cover for the stock over busy periods like the holiday seasons. This specialized insurance can cover many aspects of your business.
These coverages typically are:
Bakery stock contents cover
Provides stock and contents insurance for your bakery products. This can also include goods in transit cover. Whether you lose products in a shipment or are damaged in-house, this coverage can ensure you don’t get stuck spending extra money on new.
Bakery product liability cover
Product liability covers food produced and sold by your bakery. It will also cover you in case a customer gets food poisoning. Additionally, it can also cover you for allergic reactions suffered by your customer. In a business using products that may be allergic to many people, including nuts, eggs, and the like, this is a valuable coverage to have.
Business interruption cover
Business interruption cover will help you get back up and trading to your current level if it causes you to cease business. In today’s world, so much can happen to interrupt business. This coverage makes it a bit less scary.
Free cover for legal expenses
Legal cover for your bakery of up to a standard should you need assistance is usually included in a policy. Hopefully, you will never need this coverage, but it will be a lifesaver if you do.
Who Needs This Insurance?
They are a multitude of bakery businesses that should be holding this type of insurance. It is not just for those who own brick-and-mortar bakeries as we commonly think of them. A mobile business such as a food truck can be covered as well. If you find yourself in any of the below categories, then this specialized insurance may be a perfect investment for you.
This insurance is for:
- Bakeries
- Cafés
- Home bakeries
- Donut & bagel shop
- Wedding cake shops
- Pastry shops
- Manufacturers for bread, rolls, pies, cookies, and pretzels
Do any of these fit you or your business? If so, keep reading below about the benefits of this insurance and what to look for when shopping. Your business may not fit precisely into one of these categories. That is ok. Speak to an insurance expert who can help you figure that out.
Benefits of Bakery Insurance
This insurance does not just cover those situations mentioned above. It can cover fire risks, damages to your expensive bakery equipment, employee injuries, and illnesses due to work. The benefits far outweigh the cost of a policy. If anything in your bakery is damaged, product ruined in transit, or there is an illness in either employees or customers, you can rest easy knowing those costs won’t be coming out of your pocket.
This is a massive benefit because missing equipment or stock can lead to lost time, cancelled orders, and ultimately your revenue suffering. Accidents happen, employees get sick, and customers react to a product, but that shouldn’t take your attention away from your business and do what you love. That is the most significant benefit, peace of mind.
What to Look For in Your Insurance
Your business is unique. You want to find an insurance provider that gets to know what your business needs. Look for a provider who takes the time to understand your unique business situation. They are more likely to tailor a policy that includes the business insurance coverages to help you run a successful bakery.
As someone in the bakery business, you make the world a bit sweeter or savoury and feed all of our biggest cravings. Without the proper insurance, you risk the products, space, and professional security of your business. Bakery insurance can help you protect the critical aspects of your business and allow you to focus on creating the delicious treats, bread, and cakes we all drool over.
Read more about bakers insurance here, and read more about what kind of business insurance you need here.
Other useful links about business insurance:
Public Liability Insurance
Retail Insurance
Property Insurance
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