Be careful if your liquor receipts are over 40%.

Many insurance companies will not like restaurants if the liquor sales are over a certain amount, some say 30%, some say 35% and some say 40%. But for a higher-end restaurant, with an expensive wine list, that can be explained easily to an underwriter. That is the advantage dealing with an experience independent insurance agent - we have the ear & relationship with our underwriters.

Explaining certain risks to them, painting the complete picture of the risk, helps get quality restaurants written in New York. Just going to an online portal for your restaurant business just doesn’t work the same. Everything there is black & white, when all things inside a restaurant risk is anything but black & white! Past claims history, changes to the liquor being served and then adding live music are all factors that can change a restaurant risk.

We took a local, Buffalo, NY risk over because the prior insurance agent had them on a receipts basis for the liability portion of the risk…and they were doing very well! Increasing receipts meant increase costs to the restaurant. When we changed them to a New York based insurance company that had a flat charge basis, we saved them $10,000 a year!

You, Mr & Mrs Restaurant Owner, should know how your liability is being charged to your business. We can help out with that.