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What type of insurance does my bakery need?

What type of insurance does my bakery need?

Have you ever been to a small Mom and Pop shop while visiting a different town and fallen in love with it? To this day, you still think about it and describe your experience to anyone who so as mentions the town’s name. You find yourself driving out of your way only to go back for their ooey-gooey cinnamon rolls and freshly baked bread!  

That is the dream for all small business owners and entrepreneurs; to have valued customers who genuinely enjoy their business and share their experiences with generations of friends and family. Becoming an entrepreneur and owning a business is an exciting step in one’s life. While it is exhilarating, it is quite eye-opening to see all that is required behind the scenes to build and maintain a successful business, such as finances, planning, and insurance. 

If you couldn’t tell from my reference above, my favorite spot is the cutest little bakery that you ever did see! Mmm, I swear I can smell the cookies baking now as I am writing this.  

It is important to me that this bakery survives the ebbs and flows of running a business stress-free. Stodaywant to discuss the insurance policies they need as it is a vital part in making sure everything runs smoothly 

What are the primary insurance policies that are important for your bakery? Read below for some examples and know that each business is different and may require more or less coverage.  

1. General Liability Insurance   

Often referred to as Slip and Fall insurance, this protects you and your business should Hank take a tumble while rushing in for his morning coffee and donut.   

2. Property Insurance   

Your bakery’s physical structure needs to be insured should Sheila forget to set the oven timer causing a fire with severe smoke damage. That poor bread!  

3. Worker’s Compensation   

If your employee, Timothy, were to burn his arm while taking sweets from the oven, a worker’s compensation policy would provide wage replacement and medical benefits. 

4. Professional Liability  

Should the gorgeous wedding cake your client thought they had ordered ended up looking like a cake made for a child’s birthday party, professional liability insurance would protect your business. This coverage is here if you perform or serve an improper product or service that was agreed upon.   

5. Cyber Security   

Julia stores her employees’ personal data on-site, not realizing that she is putting her business at risk if she does not have cyber insurance. Cyber insurance is necessary whether this data is stored on the cloud or in paper files.  

6. Auto Liability   

Auto liability coverage for a business is there to protect your employees and vehicles, and others that might be involved in an incident. Suppose Riley uses her car to make a quick trip to the store to grab some vital chocolate chips on the bakery’s behalf and rear-ends another vehicle. In that case, there can be coverage afforded if the policy is adequately written.     

To make sure you are fully covered and to better understand each insurance policy, fill out the contact form below, and a member of the Worthy team will reach out to you.  

Hopefully, this brought you back memories from your favorite shop, and maybe you will stop by for a much-needed visit. As for me, I will be traveling back to my hometown to buy a loaf of fresh-baked bread from my all-time favorite bakery! 

 

Interested in learning more? Please email us at hello@worthyinsurance.com or call 773-945-6000 

Worthy Insurance is a niche broker with a focus on providing insurance placement and risk management services to the Healthcare, Manufacturing, Social Service, and Main Street business communities. Here at Worthy Insurance, we love to provide you with exciting and fun articles to learn more about insurance and how it impacts your life. Visit our other blogs to find more information. 

While Worthy does offer a wide variety of insurance coverages, our main coverages include: property coverage, worker’s compensation insurance,general liability, professional liability, and cybersecurity coverage. To find out the best coverages for your company, use the contact form below so you can be at ease knowing your company is covered. 

 

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