If you’ve ever worked in food service you know: from slipping on a greasy floor to the walk-in breaking down, the risks can be substantial. That's why partnering with an independent insurance agent can be a game-changer for restaurant owners. Here are some key benefits of working with an independent insurance agent:

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1. Tailored Coverage: Independent insurance agents specialize in understanding the unique needs of restaurants. They can craft insurance packages tailored to your specific risks and requirements, ensuring that you're adequately protected without paying for unnecessary coverage.

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2. Access to Multiple Carriers: Unlike captive agents who work for a single insurance company, independent agents have access to a wide range of insurance carriers. This means they can shop around on your behalf, comparing policies and prices to find the best options for your restaurant.

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3. Expert Guidance: Navigating the complexities of insurance can be daunting, especially for restaurant owners who are focused on running their businesses. Independent agents provide expert guidance, explaining your coverage options in plain language and helping you make informed decisions.

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4. Claims Assistance: In the event of a claim, independent agents serve as your advocate, guiding you through the claims process and ensuring a swift resolution. They work closely with insurance companies to expedite claims and minimize disruptions to your business operations.

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5. Risk Management Advice: Beyond insurance coverage, independent agents can offer valuable risk management advice to help prevent losses before they occur. Whether it's implementing safety protocols or addressing potential liabilities, their expertise can help mitigate risks and protect your bottom line.

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6. Personalized Service: Independent agents prioritize personalized service, building long-term relationships with their clients based on trust and reliability. They're readily available to address your concerns, answer your questions, and adjust your coverage as your business evolves.

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7. Cost Savings: Contrary to common misconceptions, working with an independent agent doesn't necessarily mean paying higher premiums. In many cases, they can help you find cost-effective insurance solutions that fit within your budget, potentially saving you money in the long run.

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8. Continued Support: As your restaurant grows and your insurance needs change, independent agents are there to provide ongoing support and guidance. Whether you're expanding your menu, adding new locations, or facing regulatory changes, they'll adapt your coverage to ensure you remain protected.

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Partnering with an independent insurance agent offers numerous benefits for restaurant owners, including tailored coverage, access to multiple carriers, expert guidance, claims assistance, risk management advice, personalized service, cost savings, and continued support. By entrusting your insurance needs to a knowledgeable and dedicated professional, you can focus on what you do best – serving delicious meals and creating memorable dining experiences for your patrons.

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If you’re looking for excellent business insurance for your restaurant, Rainbow can connect you with a local independent agent–submit your request here.

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The restaurant industry has been through historic changes since the start of the pandemic.

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While these impacts have created new challenges and frustrations for both agents and their clients, there are positive trends that make now a better time than ever to target restaurants.This guide breaks down some of the top trends within the restaurant industry and the restaurant insurance market, and how agents can face these challenges and opportunities head on to tap into the lucrative restaurant market. Let’s dive in.

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Restaurant industry trends

The pandemic, inflation, hiring problems, increased wages, and changing behaviors have all made the time period from 2020 to 2023 one of the most tumultuous times in restaurant history. Miraculously, restaurants are still gaining steam in midst of these challenges.

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Despite all of these difficulties, restaurants are still seeing momentum. This market is resilient and excited for the future.

New restaurants are increasing

45,000 new restaurants, net of permanent closures, opened in the past three years. This is more than any other comparable period over the last 25+ years.

Restaurants are still pressing ahead and hopeful for the future.

75% of the restaurant operators plan to adopt new technology in 2023, and nearly half plan on pursuing a loan to support business growth.

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Restaurant Insurance trends

While the restaurant industry is ever evolving, the insurance market is traditionally stagnant and slow to change. With outdated products, lack of customizable coverages and dated processes, agents and their customers face many hurdles along the way.

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To read the complete e-book guide to the Restaurant Insurance Market, download here! Then log on and get a quote started--our Underwriters are available live to help answer any questions you have. Happy quoting!

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Rainbow's Business Owner’s Policy (BOP) for restaurants is live in Nevada! 

Here at Rainbow, we take our mission to build a superior restaurant BOP just as seriously as Nevada takes being spoooooky. You probably know about Area 51, but did you know that Nevada has more ghost towns than populated towns--in fact, there are over 600 abandoned mining and boomtowns.

Rainbow helps restaurant owners effectively navigate the rises and falls of the industry and make informed decisions about insurance coverage, and is 100% built for restaurants. 

Rainbow agents offer restaurant owners: 

• Diverse payment plan options that fit every restaurant’s needs, including monthly, annual, and the industry’s first Pay-As-You-Go BOP
• Discounted premiums for demonstrating safe business practices
• Credits for affinity memberships that promote improved loss control
• Free access to training and safety resources

Rainbow agents empower restaurant owners to evolve their operations to address the new set of risks present in the space and navigate the shift to digital technology. Rainbow can work with a restaurant owners’ existing agent or refer them to one of our preferred restaurant experts. 

If you’re an agent looking to partner with Rainbow, get appointed here. You’ll be connected with Brandi, Rainbow’s manager of business development.

So you or your client are about due for a health inspection. With the proper prep, you and your client can get through it smoothly as possible. Follow this guide to know what to expect.

What is a restaurant health inspection? 

Health inspection reports are intended to prevent conditions that could harm people in your restaurant. The regulations pertain to storage, production, processing, preparing and packaging food products. If you own an establishment that serves food, you’re required to comply with the code regulations enforced by your state and/or city. Although there is no national code, the U.S. Food and Drug Administration (FDA) has a guide to help you find your state’s health food code.

When do they happen? 

If you operate a year-round restaurant, you can generally expect an inspection every 6 months. If you operate seasonally, you may have one per year. 

What do I do if an inspector walks in?

• Verify the inspector’s credentials. If you’re unsure about anything, you can contact your local department of health inspection
• Be actively cleaning. If an inspector sees you doing this, they are likely to believe it’s routine
• Check cooking and storage temperatres. Make sure they are set to their proper levels
• Follow the inspector. If the inspector raises any concerns, you ill ant to witness the violations yourself, and ask for any clarification you may need
• Act in the moment. If there are quick fixes, act immediately to rectify them
• Do not offer any food or drink to the inspector. This could be seen as a bribe. And needless to say, bribery is froned upon. Just be kind, courteous and professional
• Sign the inspection report. This is not an indication of agreement in the inspector’s findings, only evidence that you received a copy of the report.

The following are a few great tips from Rainbow's Ultimate Guide to Passing a Restaurant Health Inspection. Follow this guide to pass your health inspection and keep your customers safe. Download the guide to get the full information!

‍Pretend you're a customer Evaluate your restaurant from the point of view of someone visiting your restaurant. Is the bathroom clean? Is the silverware spotless? Ask your customers or a friend for honest feedback.

‍Inspect yourself Perform surprise evaluations of your restaurant and your staff yourself. Be as meticulous as a health inspector.

‍Review past issues Use past reviews to spot your historical weaknesses. Share them with your staff so they can also be more diligent.

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Looking for the right insurance  coverage to protect your restaurant and employees? 

Rainbow offers customized insurance policies for all types of  restaurants, from sandwich shops to wine bars. With hassle-free  policies that connect to your POS and  premiums that adjust with your business revenue, you can gain peace of mind knowing your restaurant is covered. Plus, our policies come with free risk prevention resources to help you avoid costly and time consuming claims. Give us a shout to learn more about how Rainbow can help you protect your restaurant.

Rainbow's Business Owner’s Policy (BOP) for restaurants is live in Illinois! 

Here at Rainbow, we take our mission to build a superior restaurant BOP just as seriously as Illinois takes desserts. Not only has Chicago earned the title as the “Candy Capital of the World,” Illinois is the birthplace of two dessert icons: the ice cream "sundae" and Twinkies.

Rainbow helps restaurant owners effectively navigate the rises and falls of the industry and make informed decisions about insurance coverage, and is 100% built for restaurants. 

Rainbow agents offer restaurant owners: 

• Diverse payment plan options that fit every restaurant’s needs, including monthly, annual, and the industry’s first Pay-As-You-Go BOP
• Discounted premiums for demonstrating safe business practices
• Credits for affinity memberships that promote improved loss control
• Free access to training and safety resources

Rainbow agents empower restaurant owners to evolve their operations to address the new set of risks present in the space and navigate the shift to digital technology. Rainbow can work with a restaurant owners’ existing agent or refer them to one of our preferred restaurant experts. 

If you’re an agent looking to partner with Rainbow, get appointed here. You’ll be connected with Brandi, Rainbow’s manager of business development.

As the cost of living rises and challenges such as staff shortages and environmental concerns loom large, restaurants face a tough road ahead. Operating on narrow profit margins, many eateries are seeking ways to tighten their belts without compromising the quality of their offerings. Here we’ll explore eight effective methods to cut costs without sacrificing quality.

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1. Seek Small Opportunities for Savings

In the realm of cost reduction, it's often the tiny adjustments that yield significant savings over time. Drawing inspiration from American Airlines' legendary olive-saving move, consider identifying micro-cost-saving opportunities in your operations. Whether it's reducing the number of condiment packets or napkins for takeout orders, these subtle changes can accumulate into substantial financial benefits while also aligning with eco-friendly practices.

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2. Engage Your Staff

Implementing cost-saving measures requires more than just issuing directives; it demands active involvement and buy-in from your team. Transparency is key: explain the rationale behind cost-cutting initiatives and demonstrate how they impact the restaurant's bottom line. By empowering your staff with knowledge and training, you can foster a culture of accountability and inspire meaningful action toward cost reduction.

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3. Combat Food Waste

Addressing food waste isn't just an environmental imperative; it's also a savvy financial strategy. Evaluate your inventory management practices to minimize excess stock and spoilage. By monitoring and measuring waste, you can pinpoint areas for improvement and implement measures to optimize efficiency in your kitchen operations.

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4. Embrace Energy Efficiency

Investing in energy-efficient appliances and promoting mindful energy usage can translate into significant cost savings on utility bills. Encourage staff participation by raising awareness of energy-saving practices and incentivizing responsible energy consumption in the workplace.

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5. Streamline Your Menu

Trimming down your menu not only simplifies kitchen operations but also reduces inventory costs and minimizes food wastage. Focus on retaining high-profit, popular dishes while periodically reassessing and culling less successful items. A leaner menu enhances the dining experience for customers and improves operational efficiency.

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6. Optimize Staffing Levels

Align your staffing levels with peak business hours to avoid overstaffing and unnecessary labor expenses. By understanding the fluctuations in customer traffic, you can strike the right balance between adequate staffing and efficient resource utilization. Regularly review staffing patterns to adapt to evolving consumer behaviors and market trends.

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7. Prioritize Staff Retention

Investing in employee retention is a strategic move that pays dividends in the long run. By nurturing a supportive work environment and addressing employee concerns promptly, you can foster loyalty and reduce turnover costs associated with recruiting and training. Recognize the value of your staff as indispensable assets to your restaurant's success.

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8. Stop Overpaying for Insurance Coverage

For new or seasonal restaurants, traditional insurance payment plans often don’t take into account fluctuating or uncertain business. Look for insurance companies (like Rainbow) who offer Pay-As-You-Go policies, which connect with your POS system to adjust your monthly premium based on real-time revenue. 

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In navigating the challenges of cost management, adopting a holistic approach that balances short-term savings with long-term sustainability is paramount. By implementing these strategies with diligence and foresight, restaurants can navigate economic uncertainties while preserving their commitment to quality and service excellence.

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Rainbow's Business Owner’s Policy (BOP) for restaurants is live in Minnesota! 

Here at Rainbow, we take our mission to build a superior restaurant BOP just as seriously as Minnesota takes their water sports. Not only land of (over) 10,000 lakes, Minnesotans invented waterskiing and also rank #1 in the country with one recreational boat per six people.

Rainbow helps restaurant owners effectively navigate the rises and falls of the industry and make informed decisions about insurance coverage, and is 100% built for restaurants. 

Rainbow agents offer restaurant owners: 

• Diverse payment plan options that fit every restaurant’s needs, including monthly, annual, and the industry’s first Pay-As-You-Go BOP
• Discounted premiums for demonstrating safe business practices
• Credits for affinity memberships that promote improved loss control
• Free access to training and safety resources

Rainbow agents empower restaurant owners to evolve their operations to address the new set of risks present in the space and navigate the shift to digital technology. Rainbow can work with a restaurant owners’ existing agent or refer them to one of our preferred restaurant experts. 

If you’re an agent looking to partner with Rainbow, get appointed here. You’ll be connected with Brandi, Rainbow’s manager of business development.

As a restaurant owner, your sole focus is providing the best dining experience day in and day out for your customers. But while you may spend so much time perfecting the outward-facing portion of your business, it might be easy to overlook what happens behind the scenes — specifically, we’re talking loss prevention.

Whether you operate a new restaurant or your restaurant has been handed down over generations, a loss prevention plan is critical in maintaining your business. But what exactly does loss prevention mean?

Essentially, loss prevention cushions the blow in the event of theft, employee fraud, and more. And no matter what type of restaurant you run, there are steps you need to take to ensure you have an effective loss prevention plan. Here are some loss prevention tips that will protect you and your restaurant.

Make sure you’re compliant with NFPA 96 and UL AES 300

When you navigate what type of insurance is best for your restaurant, you’ll come across two common standards: UL AES 300 and NFPA certificates. Both of these are fire safety-related, which is essential in a commercial kitchen. Your insurance provider may require you to meet specific certifications before granting you a property insurance policy. Here’s what each certificate entails:

UL AES 300 is a fire-safety standard for commercial kitchens, which helps restaurants reduce their risk of fires by ensuring that minimal grease is collected into equipment, ductwork, and air. To earn this certification, you must have:

• Fire-extinguishing nozzles in the hood, ducts, and above all, cooking appliances
• Automatic fuel shut-off capabilities for gas and electric power sources
• Fuel shut-off for all power sources
• Wet-chemical fire extinguishing system

NFPA 96 is from the National Fire Prevention Association, which aims to prevent fires in restaurants. It outlines safety guidelines for kitchens, including how much distance should be between exhaust hoods and cooking surfaces, the angle of hoods, and what kind of exhaust filters you should have.

Invest in a POS system

A Point of Sale (POS) system will keep a record of what exactly is going in and out of your restaurant. This system will help you track voids, walk-outs, compensations, claimed tips, and more to ensure nothing is missing. Run daily reports on how your restaurant performs, which employees are late, or what your daily sales are. A POS system is a layer of support in protecting yourself from theft, which can also be accomplished through various insurance policies that we’ll go through below.

Install a security camera

If theft is a concern of yours, install a camera on top of having the correct policies in place. This is an additional layer of protection if you feel customers or employees are stealing from you.

Take control of your inventory

Make sure you control how your inventory is tracked and who has access to it. Inventory should be kept in a controlled place and audited regularly. Regular audits will help you identify if inventory is missing or if you’re buying too much, leading to additional unnecessary costs.

Create a safe working environment for your employees

It’s essential to have safety procedures in place, so your employees know exactly what to do in unsafe situations — what happens if glass breaks in your kitchen? What’s the clean-up procedure for spills? Should your employees be mandated to have non-slip shoes? These are the types of questions your safety policies should answer. Make operation safety procedures a part of ongoing training for both new and current employees to ensure they’re up to date on all safety standards and hang them in the kitchen and employee common areas, so they’re always accessible.

Train your employees on how to serve alcohol properly

Alcohol server training is critical if your restaurant sells alcohol. The goal of alcohol training is to educate your employees about local and state laws and ensure your employees know how to handle and serve alcohol legally. Most restaurants in the United States require a license or certification before your restaurant can legally serve alcohol, so make sure you check in with your state to see what requirements you need. Here’s what to consider when building on an alcohol training program:

• Does your state legally require alcohol training for employees?
• How old are your employees? In most states, employees under 18 cannot serve alcohol.
• How should your employees go about checking IDs for customers?
• How should employees handle a customer who seems overly intoxicated?  

Find the right insurance to protect you

As a restaurant owner, several insurance coverages can protect you in the event of food contamination, your equipment breaking down, and more. Some of the most popular types of insurance coverages include:

• Property Insurance: Property insurance is essential for a restaurant since it’s a physical space. This type of insurance policy will cover your business in the event of a fire, theft, and more, and will help protect you financially in an emergency.
• Food Spoilage Coverage: This type of insurance can protect you in the event of a power outage that affects your food supply.
• Business Income: Business income insurance, also called business interruption insurance, covers lost income when you have to stop business at your restaurant suddenly. This could be due to a fire, a theft, or another emergency that would cause you to shut your restaurant’s doors temporarily. This type of insurance helps you while you repair damages by helping to pay your lost income.
• Employee Dishonesty: This type of coverage will protect you from fraud and embezzlement by current or former employees.
• Worker’s Compensation: This type of insurance coverage is mandatory for all businesses and is especially important in the restaurant industry. If an employee gets hurt — they burn themselves on a grill, they cut themselves and need stitches, etc. — this type of insurance will not only protect them, but it will protect you from potential lawsuits.

When in doubt--reach out to your local independent insurance agent. They can help you navigate different coverages an choose the best one for your restaurant. If you don't know where to look for an agent, reach out to Rainbow! We're happy to connect you with a Rainbow agent in your neck of the woods.