Internet Cafe Insurance
Do you own an internet cafe? Then you know of all the risks that come with doing so. Thankfully, there is a way to protect your internet cafe shop against these risks, and that is with internet cafe insurance. Learn more about how ALIGNED can match your internet cafe with superior business insurance coverage.
What types of insurance coverage do internet cafes need?
The insurance needs of internet cafes vary. However, we generally recommend the following types of coverage:
- Commercial general liability insurance: Also known as slip and fall insurance, commercial general liability insurance protects your internet cafe from third party claims of bodily injury, property damage, false advertising, libel, and slander. With this type of insurance coverage, your insurer may cover costs like legal fees, medical expenses, repair bills, and more.
- Product liability insurance: Product liability insurance is often part of a policyholder’s commercial general liability coverage and is designed to protect businesses like internet cafes that sell products to customers. These products can be food and beverages, so if your cafe sells items to patrons, product liability insurance is important as it offers coverage for claims of property damage or bodily injury that arise from a product sold to a customer.
- Commercial property insurance: Commercial property insurance safeguards your internet cafe shop and any business-related contents against property damage caused by an insured peril. Insured perils vary from policy to policy but may include windstorms, fire, theft, vandalism, etc.
- Business interruption insurance: If your internet cafe is damaged, it could affect your business operations. Thankfully, business interruption insurance exists (and is usually part of commercial property coverage). This coverage can compensate you if your internet cafe is forced to close after suffering damage from an insured peril.
- Equipment breakdown insurance: This type of coverage is important for businesses, such as internet cafes, that rely on equipment. With equipment breakdown insurance, if a covered piece of equipment in your internet cafe suddenly breaks down to an internal failure, like a mechanical or electrical failure, your insurer may help cover the cost of repairing or replacing it. You can also be compensated for business income lost as a result of the equipment breakdown with equipment breakdown coverage.
- Cyber liability insurance: Finally, cyber liability insurance is often important for internet cafes, as this type of coverage can protect your business against cyber attacks, such as data breaches or hacks. By adding this type of coverage to your internet cafe insurance policy, you will receive compensation for the costs associated with a cyber attack, like legal fees, credit monitoring, customer notification, etc.
How is the cost of internet cafe shop insurance calculated?
In exchange for the financial protection that internet cafe insurance offers, customers must pay for their policies. But how much does internet cafe insurance cost? It depends. Insurance companies will consider a wide range of factors when calculating premiums for internet cafes. Some of the factors that may come into play include the size and location of your internet cafe, the number of people it employs, its annual and projected revenue, your personal claims history, the number of years of experience you have as a business owner, and the coverages, deductibles, and limits you choose to include with your internet cafe business insurance policy.
Where can I buy internet cafe insurance?
The great news is that internet cafe insurance is easy to purchase. It can be purchased directly from an insurance company or from an insurance broker, like ALIGNED. Many internet cafe owners choose to purchase insurance policies through brokers owing to the additional services they provide. An insurance broker can not only help you find a great policy but they can make coverage recommendations, give you tips on how to save money on your internet cafe insurance plan, and even help you with tasks like renewing your insurance or submitting a claim.
Considerations before purchasing internet cafe insurance
- Cost: The first and most important consideration for many policyholders is the cost. Before buying an insurance policy, it is important to think carefully about your budget and to share your preferred budget or price range with an insurance broker. An insurance broker has experience finding commercial coverage to suit a wide range of budgets. So no matter your chosen budget, an ALIGNED broker will find a policy that meets your needs.
- Insurance broker vs. insurance company: A second consideration you will need to make when buying internet cafe insurance is where to buy it from. You have two main options: to buy it from an insurance agent or from an insurance broker. Both have pros and cons. However, generally speaking, the pros of working with a broker far outweigh the cons. Brokers offer unbiased, expert advice and can find you great coverage at an affordable price.
- Insurance coverage: Finally, internet cafe owners like you will need to consider what type of coverage you need before you buy a policy. As a policyholder, you get to decide which coverage (and coverage limits) to add to your policy. However, to make the right decision, you must think about the risks your business faces. You can also ask an ALIGNED insurance broker for their professional opinion on which coverages make the most sense for your internet cafe.
Get ALIGNED with business insurance for your internet cafe
Let the ALIGNED team find a quality commercial insurance policy for your internet cafe. We are insurance experts who get the job done. Contact ALIGNED to learn more about how internet cafe insurance works or click here for a free quote.