KBD Insurance
KBD Insurance
KBD Insurance

KBD is an insurance broker that provides tailored insurance solutions
to protect businesses within the restaurant industry.




KBD works with multiple insurance markets and will shop for you to find the most competitive insurance rates and protections. We provide restaurant insurance solutions for:

  • Cafés and coffee shops
  • Family restaurants
  • Fine dining restaurants
  • Bar restaurants
  • Restaurant chains

Here are some helpful tips that all restaurant owners can benefit from to help keep their long-term insurance costs down as well as increase the safety of the premises:

The most important aspect of running a restaurant in terms of safety; you need to have an exhaust hood located above the stove where the cooking takes place that is cleaned at least 3-4 times per year, as well as CO2 extinguishers to put out a grease fire if ever one is to take place. Failure to clean the hood on a regular basis will result in a grease buildup, which will significantly increase your risk of fire. Most insurance companies will require that the hood be cleaned a minimum of 2 times per year in order to provide coverage.

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When you mop the floor or clean the toilets, proper warning signs should be installed to let your customers know that the floor is wet and that there is a chance they could slip and fall. Ideally, cleaning should take place after business hours.

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Most customer transactions today are by credit card, but there are still a considerable number of clients who will pay for their meals in cash. When your restaurant closes at the end of the day/night, this cash needs to be put in a hidden, secured vault to prevent any type of robbery whereby the thieves will steal your restaurant's cash. It should then be deposited into your business bank account as quickly as possible!

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As insurance brokers, KBD knows the ins and outs of the insurance industry, so trust us when we say "you don't want to make a $500 claim." Insurance companies view most restaurants as "high risk" in comparison to other industries because statistics show that they claim more frequently. Consequently, the insurance companies will penalize a restaurant for making a claim more severely than a barber shop, for example. We recommend paying for any small damages out of your own pocket instead of making a claim, which will ultimately keep your insurance costs down in the long run.

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Our cyber insurance policy will cover you for all the events listed above and more. Here's how it works:

KBD Insurance
KBD Insurance
KBD Insurance
KBD Insurance

Fire prevention

The most important aspect of running a restaurant in terms of safety; you need to have an exhaust hood located above the stove where the cooking takes place that is cleaned at least 3-4 times per year, as well as CO2 extinguishers to put out a grease fire if ever one is to take place. Failure to clean the hood on a regular basis will result in a grease buildup, which will significantly increase your risk of fire. Most insurance companies will require that the hood be cleaned a minimum of 2 times per year in order to provide coverage.
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Keep your premises tidy

When you mop the floor or clean the toilets, proper warning signs should be installed to let your customers know that the floor is wet and that there is a chance they could slip and fall. Ideally, cleaning should take place after business hours.
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+ Read more

Hide your cash vault

Most customer transactions today are by credit card, but there are still a considerable number of clients who will pay for their meals in cash. When your restaurant closes at the end of the day/night, this cash needs to be put in a hidden, secured vault to prevent any type of robbery whereby the thieves will steal your restaurant's cash. It should then be deposited into your business bank account as quickly as possible!
Find out more

+ Read more

Avoid making small claims

As insurance brokers, KBD knows the ins and outs of the insurance industry, so trust us when we say "you don't want to make a $500 claim." Insurance companies view most restaurants as "high risk" in comparison to other industries because statistics show that they claim more frequently. Consequently, the insurance companies will penalize a restaurant for making a claim more severely than a barber shop, for example. We recommend paying for any small damages out of your own pocket instead of making a claim, which will ultimately keep your insurance costs down in the long run.
Find out more

+ Read more

Here's a list of the protections we can offer for your restaurant:

KBD Insurance

Building

Restaurants or cafés that own their building to run their day-to-day operations will want to insure this real estate against insured perils like water, fire, vandalism, flood and earthquake. If you have a mortgage on your property, the bank will require that you purchase an insurance policy to protect it for the amount that it would cost to rebuild. It's not mandatory to purchase this protection if you do not have a mortgage, but is certainly highly recommended.

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Betterments

Applicable to restaurants who are tenants: many business owners don't realize that the betterments they make to a building are not covered by the landlord. If you are opening up a new restaurant, and you invest $150,000 in renovations, this investment will need to be covered on your own insurance policy.

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Contents

Coverage against perils such as fire, water, smoke, theft, and more for items such as your fridges, stoves, computers, tables, and chairs.

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Stock

Coverage against regular insured perils for the food and alcohol you store at your restaurant.

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Equipment breakdown

Having this protection would cover your business in the event of food spoilage due to a power outage. Equipment breakdown protection is an often-overlooked coverage that every insurance policy should have, and covers your restaurant from perils like electrical arcing or sudden mechanical failure of equipment. In lay man's terms, if an electrical surge fries your TV's or your fridge, you would be covered under this policy.

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Business interruption coverage

When your business can't operate due to a claim (like a fire), it is important that your revenue stream remains intact as you will still need to pay for your fixed costs like rent and electricity during the time it takes to make the restaurant repairs. In short, this protection covers your business for the loss of profits, fixed costs and administrative payroll while your business is closed due to a claim.

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Liability coverage

Arguably the most important protection that a business can have in terms of insurance protection, this covers your enterprise if someone (person or entity) attempts to sue you for an event that transpired relating to your business activities and that caused third party property damage or bodily injury. Common examples within the restaurant industry would be someone chipping their tooth while eating one of your meals, or a client slipping on a wet floor and injuring themselves.

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Cyber coverage

Your restaurant uses a POS (point of sale) system to keep track of sales, reservations, and to collect customer payments. If ever the credit card numbers of your customers were to be hacked, our cyber coverage would pay for the costs to notify your customers and to pay for credit monitoring services.

Receiving a competitive quote with the proper protections is easier than you may think.

Call us today to speak with one of our insurance brokers.

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See what others are saying about KBD Insurance

KBD is great and helped us consolidate and organize our insurance for all 7 of our locations.


Ye Olde Orchard Pub & Grill

KBD's expertise and professionalism led to competitive rates and better coverage for our home and commercial policies.


Climatisation Airvitech

We've been with KBD since the Killen Bullard Devine days; love these folks. So helpful and professional.


Construction Freres Riendeau




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