benholz-ga,
There are a lot of factors in computing liability insurance for eating
places. How much insurance coverage you want (or are legally required
to have in your locale) is the biggest factor. Another large factor
is whether or not you serve alcohol. I assume this will not be the
case in a cafe. Location (which state, which city, which part of the
city) is another largely varying factor, so that I cannot quote any
particular numbers for your location. Number of employees, size of
payroll, and yes, gross income all enter into it. Also, how long you
have been in operation enters into rate calculation.
Your best bet is to ask some local insurance companies for some rate
quotes. If you are a member of the National Restaurant Association,
you can get a quote from them at
http://www.palmercay.com/pc/Restaurant+Insurance+Questionnaire?OpenForm
A sponsored Google link at http://www.mostquote.com
Some sample rates mentioned in the various articles I have read are
$5000-$8000/yr for 30-100 seat white-tablecloth restaurants in New
Jersey with no more than 25% of their income from alcohol (
http://www.agentandbroker.com/FSG/AgentBroker/Main+Nav/Articles/Archive/Restaurant+Insurance~A+winning+recipe+for+restaurant+insurance.htm
) In Victoria, Australia, restaurant liability insurance in August,
2001 was approximately 0.6% of gross revnue
(http://www.dsrd.vic.gov.au/CA256ADF00214A61/ImageLookup/PDF3/$file/Public%20Liability%20Survey%20Results.doc
page 10). Speciality Insurance offers liability insurance starting
with premiums of $2500 for up to $1,000,000 worth of coverage in 17 US
states. ( http://www.roughnotes.com/rnmag/january/p64.htm )
I hope this gives you some idea for your answer, but the best thing to
do is still to call your local insurance companies to find out rates
in your area.
turnip-ga
Search Terms:
"liability insurance" "sample premiums" OR "average premiums"
restaurant OR cafe
"liability insurance" rates restaurant OR cafe |
